Blue Mountain denies deal of 42 UK hotels

According to a report published in The Times, London, Blue Mountain Real Estate Advisors (BMREA), an Indian property investor has been chosen as the preferred bidder for the 42 Marriott hotels across Britain after the firm had offered 750 million pounds. The report further stated that the company collapsed under the heavy burden of about 900 million pounds most of which was due to Royal Bank of Scotland (RBS). Mr. Janak Vaswani, director, BMREA had completely denies all this and said that his company has nothing to do with the 42 UK hotels and his company has not made any sort of offer. In a statement Mr. Vaswani said that he was hearing about such a deal for the very first time himself and has nothing to do with this transaction at all. He also said that he is not familiar with any other company by the same name. Meanwhile RBS could not be reached for comments on this deal. The assets on this offer comprises of about 8000 rooms in 42 hotels in England, Wales and Scotland. All these hotels are operated by Marriott International under a 30 year management agreement that took place in 2006. These hotels have remained in news for much time now as earlier in February, 2012 they were in the buzz for participation of many companies in the bidding.