Hilton International sells LivingWell Premier healthclubs for £101m
9 August 2006

Hilton International has sold its portfolio of 24 standalone LivingWell Premier Clubs to Bannatyne for approximately £90m, following a successful auction process that also encompassed LivingWell’s three standalone Premier clubs in Australia, for which sale agreements have been exchanged with Fitness First.

Following the merger of Hilton Hotels Corporation with Hilton International, it was decided that the standalone Premier Clubs portfolio no longer offered a strategic fit within the enlarged global lodging business.

Upon completion, the combined Enterprise Value of the two disposals will total approximately £101m, which represents a multiple of trailing twelve months post-overhead EBITDA of approximately 11.7x.

McQueen Limited acted as financial adviser to Hilton International.

For the full text of the announcement please click here 

Enquiries:
Simon Croft-Baker 020 7484 8805

   

    

    

    

    

    

    
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