Blackstone sees the pub sector as offering "lots of opportunities", Hamilton, James, vice chairman, tells The Independent on Sunday. James describes the US financial group as "omnivorous" in its choice of target, in that it is attracted to many different sectors. Its targets tend to be neglected, under-developed companies with potential. It stabilises them, fixes them up and sells them on within three to five years. It has just snapped up £2.5bn worth of pubs and restaurants from Scottish & Newcastle. The Sunday Telegraph claims Blackstone and co-owner Colony Capital, will sell the Savoy group of properties, which includes Simpsons in the Strand, within days for £750m-£800m. The Sunday Times says in the first paragraph of its article that it understands the hotels have been bought by a group of Irish millionaires headed by Derek Quinlan, a former Dublin revenue collector. But the next paragraph says the hotels will "soon" be sold for more than £800m. The Independent (Business) 04/04/04 page 5 The Sunday Telegraph (Business) 04/04/04 page 2 The Sunday Times 04/04/04 page 5