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...The $18bn distressed debt investor Strategic Value Partners seized control of the owner of US retail properties such as Rolling Oaks Mall in Texas and Tippecanoe Plaza in Indiana in a transaction approved...
...Almost by accident, the Texan billionaire had become the owner of an 80-year-old hotel at the south-east corner of Central Park....
...His mission was to sell the Plaza Hotel at the corner of Central Park, which his then boss, the Texas oil heir Robert M Bass, had bought as part of a larger deal....
...In the competitive market, owners are prepared to absorb losses as they chase glory....
...Having sold down assets, the company’s long-term strategy is to grow the brands of the group, which include InterContinental, Holiday Inn and Crowne Plaza....
...InterContinental Hotels Group, owner of the Crowne Plaza chain, firmed 0.6 per cent to 313.08p after the Barclay brothers declared a raised 5 per cent holding....
International Edition