Rooms sale: Splendid puts £200m London hotels on market

Splendid Hotel Group has put a portfolio of seven properties in London up for sale as it looks to move upmarket.

It has hired property agent DTZ to find a buyer for five Express by Holiday Inn and two Holiday Inn hotels in a move that could raise close to £200m. Splendid's hotel range is moving to the premium end of the market, with a five-star Hilton in Westminster planned. Splendid hopes to complete a sale by the summer.