Sale of Hilton Glasgow Grosvenor Hotel

RNS Number : 7690N

Royal Bank of Scotland Group PLC

07 September 2011

 

The Royal Bank of Scotland Group plc - Sale of Hilton Glasgow Grosvenor Hotel

RBS sells Hilton Glasgow Grosvenor Hotel to private investor

The Royal Bank of Scotland Group plc ("RBS") today announced the sale of the Hilton Glasgow Grosvenor to a private investor for £9.45 million in cash.

This shows continued progress with the sale of the hotel portfolio in its Non-Core Division and the asset reduction element of its Strategic Plan.

The Non-Core Division has sold 10 of 11 hotels in the RBS Hilton portfolio so far. As at June 2011, RBS has reduced assets by £145 billion since the Non-Core Division's inception in 2009.

For further information:

Investor Relations

Alexander Holcroft

[phone]

[phone]

Media Relations

RBS UK Press Office

[phone]

 

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