MADRID, July 30 Spain's NH Hoteles said
in a statement on Wednesday that it is in exclusive talks over
the sale of its luxury Sotogrande development in southern Spain,
sending shares 2 percent higher.
Earlier, website El Confidencial said NH Hoteles had sold
the luxury development, which includes golf courses, homes,
beaches and dining, to private investment firm Cerberus for 220
million euros ($295 million).
In May, the indebted Spanish hotelier said it was studying
asset sales, including Sotogrande, in a move to restructure debt
and raise funds for new investments.
Shares in NH Hoteles, which have fallen 7 percent this year,
were up 2 percent at 4.06 euros by 0830 GMT.
($1 = 0.7465 Euros)
(Reporting by Tomas Cobos, writing by Tracy Rucinski; editing
by Julien Toyer and Jason Neely)