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News
Top London Hotel and Club sold
Far-Eastern investors have bought the St James’s Hotel and Club.
The five-star property was sold for £60 million, or £1m a room, in a deal which was announced this week.
A member of the Small Luxury Hotels of the World and managed by pan-European hotel operator the Althoff Hotel collection, the hotel opened in August 2008 after an 18-month refurbishment.
St James’s is the latest in a long line of top London hotels and establishments to have been bought or are in the process of being bought by overseas investors.
Three bidders are reportedly in talks with RBS to buy the Grosvenor House Hotel on Park Lane and in May of this year three firms, Gracemark Investments, US hotelier Amerimar Enterprises and US private equity firm Angelo Gordon & Co collaborated to buy the Jolly St Ermin’s Hotel in St James’s for £65m.
Not to mention this year’s sale of Harrod’s to the Qatari royal family and the sale of the Stafford Hotel to an Egyptian hospitality company for £77.5m last year.
Rupert Millar, 09.11.2010