Eureka Funds Management - Excel
Eureka Funds Management document sample
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Disposal Newsflow Hotel / Portfolio Buyer Price Further Detail 13 Jul 06 Sale of 7 InterContinental hotels in Continental Morgan Stanley Real €634m Sold with 30 year management contracts with two 10 year Europe Estate Funds renewals. 13 Mar 06 Sale of 24 Continental European hotels Westbridge Hospitality €352m Sold with 15 year franchise contracts. Proceeds to IHG are Fund €345.2m with the balance €6.8m relating to 3rd party minority interests. 31 Jan 06 European InterContinental portfolio 7 InterContinentals placed on the market 25 Jan 06 SBS Las Colinas & HI Montego Bay, Jamaica HPT $35m Sold to HPT with management contract, subject to final due diligence 24 Nov 05 CP Birmingham City Centre Island Birmingham £24.4m Sold with a 20 year Crowne Plaza franchise agreement 1 Nov 05 IC Paris & ANZ Portfolio completion See below Legal completion of previoiusly announced disposals. 8 Sep 05 IC Paris GIC €315m Expected to complete in quarter 4, hotel will leave the system. 1 Sep 05 ANZ Portfolio of 9 hotels Eureka Funds £164m Sold with 10 year management contract with option to Management extend for further 10 years 1 Sep 05 HI Suva, Fiji Fiji National Provident Fund £6m Sold with 10 year management contract with option to extend for further 10 years 11 Aug 05 HI Dublin Airport Adelphi Way Developments €33.5m Sale of the company which owns the Holiday Inn. Hotel will & Investments leave the system. 23 Jun 05 IC George Edinburgh Principal Hotels £34m Will be operated as part of the Principal Hotels portfolio 23 Jun 05 CP Brussels Europa Atenor Group Sold with CP franchise agreement 25 May 05 CP United Nations, New York Halifax Holdings $34m Sold with a 10 year Crowne Plaza franchise agreement. 25 May 05 73 UK properties LRG Acquisition Ltd Completion with receipt of £960m cash 4 Apr 05 10 assets in Asia Pacific predominantly in Placed on the market Australia 4 Apr 05 IC Miami & IC Chicago Strategic Hotel Capital Completion with receipt of $287m cash 10 Mar 05 73 UK properties LRG Acquisition Ltd £1bn Sale of 73 hotels with management contracts (with estimated fees of £12m per annum in the first full year). 20 yr management contracts with 2 options to extend for 5 years. 4 Mar 05 CP American Amsterdam The Eden Hotel Group €37m Sale of the company which owns the Crowne Plaza. The hotel will leave the system 28 Feb 05 IC Miami & IC Chicago Strategic Hotel Capital $287m Sale of 85% interest in the hotels. 20 year management contract retained 17 Feb 05 12 North American hotels HPT Completion of 12 of 13 sold to HPT. IC Austin still to complete 17 Dec 04 13 North American hotels HPT $450m Signed long term management contracts with $25m of proceeds to be invested in the hotels over the next 3 years. Existing guarantee with HPT increased by $5m. This will burn off over time. 9 Sep 04 76 hotels predominantly in the UK and including Placed on the market IC Paris 12 Jul 04 20 hotels in North America Placed on the market 15 Mar 04 IC Central Park South, New York Anbau Enterprises Inc $63.5m Sold, hotel will leave the system 1 Feb 04 CP Midland Manchester Quintessential Hotels Ltd £20m IHG sold its share of Midland Hotel and Conference Centre Limited (the holding company for the Crowne Plaza The Midland Manchester) to Quintessential Hotels Limited. 22 Aug 03 IC Mayfair, London Radisson Edwardian Hotels £115m Sold, hotel will leave the system 1 Jul 03 16 Staybridge Suites in US Hospitality Properties Trust $185m Management contract retained on all assets for 20 years (HPT) with options to extend. Guarantee given of $50m which burns off over time.