HBOS and Royal Bank of Scotland will together receive close to £2bn (€2.9bn) from the flotation of a hotel property company on the London stock market next month.

Vector Hospitality, which owns a portfolio of hotel properties across the UK, was largely created from the pooling of the real estate assets of HBOS, which will receive £1.1bn from its flotation, and RBS, which will net £956m.