A consortium led by Quinlan Private has bought 47 Marriott hotels for £1.1bn from the Royal Bank of Scotland. Financial Times.

Irish private equity property group Quinlan teamed up with three investors, Electra, First International Bank of Israel and Delek Real Estate, advised by Igal Ahouvi to secure the portfolio.

Quinlan invested 44% of the £200m equity while the remainder came from Ahouvi and his clients.

The hotels - 39 in England, five in Scotland and five in Wales - will be managed by Marriott International on 30-year contracts. The yield on the sale-and-management-back transaction is around 6%.