Eureka Funds Management - Excel by aaq20251

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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.

								
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