Going private: Public-to-private transactions in the hotel sector in the UK

Abstract

The 1990s saw a large number of hotel groups listed on the Stock Exchange, as they regarded the public markets as a way to raise funds for their future expansion and development. But more recently there have been several moves in the opposite direction as listed hotel groups are taken private. Examples within the past year include Jarvis Hotels, Macdonald Hotels, Thistle Hotels, Queensborough Holdings and Hanover International. Market gossip now anticipates more groups making the same decision in the coming year. This paper looks at three issues. –Why have so many hotel groups decided to go private? –What are the practicalities involved in the process of going private? –Is this likely to continue? [ABSTRACT FROM AUTHOR]