Israeli investor Igal Ahouvi has completed the purchase of a £1bn portfolio of Marriott hotels
Ahouvi exchanged on the portfolio 10 days ago and has subsequently agreed deals with investors to co-invest in the portfolio.
RBS bought the 46 Marriott hotels in a £965m purchase in April last year from holding company Condor, a company jointly owned by Whitbread and Marriott International.
Ahouvi then agreed a deal to buy the portfolio and subsequently sold stakes in the portfolio to quoted Israeli company Delek, a subsidiary of Delek Israel Fuel Corporation, and Electra, which will become passive investors, and Irish investor Quinlan Private, which will be involved in the management of the hotels.
Marriott Hotels will continue to run the hotels.
RBS sold the freeholds of 137 NCP car parks in 2003 to an Ahouvi-led syndicate, and in 2005, RBS and Ahouvi bought 16 Hilton hotels together.
Barrs Freer Smith advised Ahouvi.