Palace Hotel bought back by Principal Hayley

12/01/2012 13:25:45

The Palace Hotel in Manchester has been bought back by a previous owner as part of a £200m deal.

Lloyds Banking Group-backed Principal Hayley has re-acquired six hotels – including the Russell in London, George in Edinburgh and the Royal York – from Active Asset Investment Management, in which Manchester United boss Sir Alex Ferguson and Simon Cowell are investors.

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