RHC The Real Hotel

    RNS Number : 6813Z
  The Real Hotel Company PLC
  23 July 2008
   

    The Real Hotel Company plc
    (the "Company", "Group" or "RHC")

    Completion of the disposal of the Comfort Inn Kensington & the Purple Hotel City of London

    Following the passing of the resolutions for the disposal of three hotels to a subsidiary of Whitbread plc for �18.6m at the
Extraordinary General Meeting of the Company, held on 11th July 2008, the board of the real hotel company plc are pleased to announce the
completion of the sale of the first two hotels (being the Comfort Inn Kensington and the Purple Hotel City of London) on 22nd July 2008 for
the sum of �11.0m.



    The third and final disposal in the transaction (being the disposal of the Quality Hotel Westminster for �7.6m) is anticipated to take
place no later than October 7th 2008.  

    Proceeds from the combined sales will be used to reduce bank borrowings by �14.5m and provide the Group with further working capital of
�3.5m after paying transaction expenses of �0.6m.


    For further information please contact

    
 RHC plc:                                                   020 8233 2001
 Michael Prager, Chief ExecutivePaul Mitchell, Chief Financial Officer
 
    
 Adhoc PR       020 7483 0030
 Deborah Parritt


    Notes to Editors:

    The Real Hotel Company plc (RHC)

    The Real Hotel Company is more than just a name. It is a statement of the Company's core values. To deliver the rich traditions of hotel
keeping to a 21st century market in a low cost environment. In short to be real hoteliers.

    The Company is an owner, operator and developer of branded hotels in the UK and Europe and operates 58 owned, leased or managed hotels
in the UK, France, Germany and Belgium. It also operates the New Connaught Rooms conference and banqueting suite situated in London's Covent
Garden.

    The Company owns the Purple Hotels* limited service brand - 'a real hotel for the price of an inn' which differentiates itself by adding
a touch of style and cool to a sector that has, so far, defined itself only by price.

    It also operates hotels under the franchise Choice brands of Quality, Comfort and Clarion as well as six Stop Inn hotels.

    The RHC management team has considerable experience in the hotel sector. Michael Prager was Managing Director of Utell International and
held senior positions in Intercontinental and Radisson Hotel groups. Paul Mitchell was formerly Vice President of Financial Planning and
Control for Europe, Middle East and Africa at Intercontinental Hotel Group in addition to holding senior finance positions in Granada, Forte
and Allied Lyons.

    
 

This information is provided by RNS
The company news service from the London Stock Exchange
 
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