UK's MWB postpones hotels sale, blames market

MWB appointed Bank of America to sell the property assets of both hotel groups in July after it was forced to scrap a $3.6 billion initial public offering of Vector Hospitality, a separate vehicle it created with partners in a bid to float the UK's first dedicated hotel real estate investment trust (REIT). The failure to float Vector in June was also attributed to poor market sentiment following a rapid downturn in confidence in the outlook for European property stocks.