Starwood set to acquire Principal Hayley for £360m

City analysts predict Starwood Capital is set to announce an estimated £360m acquisition of the hotel and conference centre operator Principal Hayley from Lloyds Banking Group.
 
The deal could become “a platform for a possible bid for De Vere Venues”, according to The Times newspaper, whose Business Editor Dominic Walsh said on Twitter that over £1bn of hotel assets could change hands in the coming weeks as talks over the future of three of Britain’s biggest hospitality companies conclude.
 
Principal Hayley owns London’s Hotel Russell and the Palace in Manchester.
 
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