The Royal Bank of Scotland (RBS) has reportedly agreed to sell 47 hotels operated in the UK by the Marriot chain to a consortium led by Israel's Delek Belron International for EUR 1.6 bn. Delek Belron, a unit of Delek Real Estate, said it is to acquire a 17% stake.

The Royal Bank of Scotland (RBS) has reportedly agreed to sell 47 hotels operated in the UK by the Marriot chain to a consortium led by Israel's Delek Belron International for EUR 1.6 bn. Delek Belron, a unit of Delek Real Estate, said it is to acquire a 17% stake.

Israeli financial newspaper Globes reported that Israeli investor Electra Real Estate is taking a 9.9% stake. Other partners are said to include FIBI Holdings, the owner of the fifth-largest bank in Israel, businessman Yigal Ahuvi and Irish property investor Quinlan Private.

The portfolio of hotels includes the Regent's Park hotel in London. The 47 hotels have 8,456 rooms and will continue to be managed by Marriott under a 30-year agreement. Delek said it and its partners expect to earn EUR 115 mln annually after expenses for the next 10 years from the hotels.