P&O to sell La Manga for £100m

P&O is to seeking £100 million for its luxury Spanish sport and leisure resort La Manga, as part of an ongoing strategy to focus on its “core businesses”.

The Murcia resort, a favoured destination of footballers which became embrolied in the Leicester City Football Club sex scandal earlier in March, has been owned by P&O for 17 years.

The 1,200-acre club on the Costa Calida offers two luxury hotels, three golf courses and an eight-pitch football centre. Also included are 1,675 luxury villas and apartments.

The sale is expected to start in September and is likely to take a few months, P&O said.

Meanwhile, P&O said conclusions of a review of its ferries business is expected to be announced on September 28.

In its interim results, out last week, the company said its ferries’ trading remained difficult.

Ferries reported a loss of £25.1 million, against a loss of £19.9 million the previous year. Tourist vehicle numbers dropped 5% on 2003