UK - Nikko Principal Investments exits Menzies Hotels Group Ltd

Nikko Principal Investments Ltd (NPIL), has sold the four star hotel chain, Menzies Hotels Group Ltd, to property investors aAIM and R20, for £180m. This exit combined with the sale of the Salcombe Hotel in the summer of this year, takes the total exit value to in excess of £190m. Under NPIL’s ownership Menzies acquired the Menzies Glasgow Hotel in May 2005 and the Menzies Cambridge Hotel in January 2006. In addition NPIL supported a substantial investment in the Welcombe Hotel and Spa, which underwent a major refurbishment, including the creation of a luxury Spa and health club.