Indian investor bidder for 42 Marriott Hotels

Little known Indian property investor Blue Mountain Real Estate Advisors has been selected as the preferred bidder for 42 Marriott hotels throughout Britain after it offered £750 million, a media report has said. The holding company for the portfolio of hotels collapsed under the weight of about £900 million of debt, most of it held by Royal Bank of Scotland (RBS). Blue Mountain Real Estate Advisors, a part of the Mumbai-based India Blue Mountain group, is understood to have been granted a period of exclusivity by RBS to put together funding for a deal, The Times said in a report.