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June 25, 2015
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UK: Two NEC Hotels Set for Birmingham Council Sell-Off

Two hotels on the site of the National Exhibition Centre (NEC), in Birmingham could be sold off as the local council seeks to pay off a £1 billion equal pay bill.

Birmingham City Council holds leasehold interests in the Hilton Metropole and Crowne Plaza hotels at the NEC, and will consider a report recommending it sells them off, months after it sold the NEC Group, which includes the National Exhibition Centre (NEC) and International Convention Centre (ICC) to LDC, part of the Lloyds Banking Group, for £307 million. The transaction will help the council to service historical equal pay claims.

Cllr Ian Ward, deputy leader of Birmingham City Council, said: “We have an ongoing review of all of our assets to ensure they provide best value to the citizens of Birmingham.

“The decision to keep the hotel sale separate from the wider NEC Group deal is clear evidence of how we proactively manage our property portfolio to make best use of them."

Read more at MeetPie.com...

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