LONDON, Dec 20 / Private equity group Nomura Principal Finance has hired one of the hotel industry's most experienced executives to head its bid for Granada Compass's (quote from Yahoo! UK & Ireland: GCP.L) three billion pound ($4.4 billion) Forte hotels auction, the Times reported on Wednesday.
Juergen Bartels, former chief executive of America's Starwood Hotels & Resorts [NYSE: HOT] , was understood to be overseeing the bid by Nomura, the newspaper said.
Industry sources told Reuters last week that other bidders included Bass (quote from Yahoo! UK & Ireland: BASS.L), Hilton (quote from Yahoo! UK & Ireland: HG.L), Marriott [NYSE: MAR] and Starwood [NYSE: HOT] . Two other private equity players Doughty Hanson and Blackstone had shown interest.
The Times said Nomura was thought to be among the front-runners, having submitted a bid for the Meridien and the Posthouse chains as well as some of the London Signature hotels.
SOURCE: Reuters
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