• Breaking news: Cumberland sold

The Cumberland hotel in London has been sold for close to its £215m asking price, according to news reports. The buyer is understood to be a joint venture between Starwood Capital and London & Regional.

Separately, the Times also reports today that Travelodge is close to agreeing a deal to lease most of the 80 lodges owned by pub group Mitchells & Butlers.

Article here: http://www.propertyweek.com/starwood-and-lr-buy-londons-cumberland-in-europes-largest-hotel-deal-this-year/5001981.article

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