Bank taking another look at selling Menzies Hotels assets

City A.M. Reporter
LLOYDS Banking Group is said to be considering a fresh attempt to sell Menzies Hotels, nearly five years after inheriting the chain as part of its ill-fated takeover of HBOS.

The bank has spoken to several potential advisers about a sale, with a price tag of up to £100m, according to the Sunday Times.

Lloyds examined a sale in 2011, before the chain fell into administration and required a debt restructuring.

It first took on Menzies in 2008, as part of a portfolio of hotel assets owned by beleaguered bank HBOS.

Earlier in the year, Lloyds sold its interest in the Principal Hayley hotel and conference venue chain to a US investor, and in 2011 sold the Mint hotel group for £600m.

Lloyds is also a major lender to De Vere Group, which last week announced it had hired Lazard to sell its venues business for up to £300m.

Lloyds declined to comment on Menzies yesterday.