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.
