Africa-Israel may join UK Hilton deal

By YIGAL GRAYEFF
December 14, 2005 07:19

Africa-Israel Properties is considering joining Igal Ahouvi's Managed Hotels Unit Trust and Delek Real Estate in their purchase of 16 Hilton hotels in the UK.




Africa-Israel Properties is considering joining Igal Ahouvi's Managed Hotels Unit Trust and Delek Real Estate in their purchase of 16 Hilton hotels in the UK. Africa-Israel said on Tuesday it is in talks to buy into 10% of the deal, which is worth a total of NIS 3.5 billion. Last month, Hilton said it completed the sale of the first 15 hotels to Managed Hotels but that it would keep its banner on the buildings and continue to manage them as full Hilton hotels for at least the next 30 years. It also has two options to continue managing the hotels for 10-year periods after that.


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