Scottish bank sells 47 Marriott hotels

The Royal Bank of Scotland Group (RBS) has struck a £1.1 billion deal to sell 47 Marriott hotels across the UK to a subsidiary of Israel’s Delek Real Estate Ltd. and a selection of partners, according to The Daily Telegraph newspaper. RBS had bought 46 of the hotels from a joint venture between Whitbread PLC and Marriott International Inc. (MAR) last April for GBP951 million, paying an additional GBP30 million for a separate Marriott development, according to the newspaper.