• Sofitel sold

Arora Hotels has sold the Sofitel at Gatwick airport in a deal reportedly worth GBP150m. Arora will continue to run the 518 room hotel under a long term lease with the new owner.

The hotel was bought by Schroder Real Estate Hotels on behalf of a JV between BAE Pension Funds and Immobilien Europa Direkt. The addition means Schroder now manages 51 hotels worth around GBP2bn.

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