Acquisition of landmark Central London hotel portfolio
LONDON, Jan. 12,
2024 /PRNewswire/ -- Starwood Capital Group
("Starwood Capital"), a global private investment firm with a
primary focus on real estate, announced today that a controlled
affiliate has acquired a portfolio of 10 hotels from Edwardian
Group for an undisclosed sum via an off-market transaction.
The portfolio comprises 10 hotels with 2,053 rooms. Edwardian
Group will continue to own and operate The Londoner and its two
Radisson Collection hotels, The May Fair and The Edwardian
Manchester, following closing of the transaction.
Alongside the acquisition, Starwood Capital and Edwardian Group
intend to collaborate on future opportunities together. As part of
this relationship, Edwardian Group will continue to operate the
portfolio on a transitional basis while Starwood Capital plans its
future investment into the hotels.
The acquisition adds to Starwood Capital's existing portfolio of
European hotel investments, which following the transaction will
comprise 47 hotels / c.10,000 rooms across Europe.
Tim Abram, Managing Director at
Starwood Capital, said: "We are delighted to have had the
opportunity to acquire this one-of-a-kind portfolio of Central London freehold hotels. London is one of the world's most sought-after
hotel markets, and this portfolio enables to us gain exposure on a
unique scale to London. We plan to
invest significant capex during our ownership into further
enhancing the hotels."
Inderneel Singh, CEO of Edwardian Group, said: "Following the
successful development of The Londoner and a period of strong
trading across the portfolio, the sale represents an opportunity to
refocus the group and position it for the next chapter of
growth."
"Our three landmark properties – The Londoner, The May Fair
Hotel, and The Edwardian Manchester – each mark our continued
commitment to invest in and deliver distinctive experiences for
guests in high-end, purpose-built, city-centre hotels."
JLL provided real estate advisory services and Baker McKenzie
provided legal services to Edwardian Group for the sale.
Paul Hastings (Europe) LLP acted for Starwood Capital on the
acquisition.
List of Hotels
- Radisson Blu Edwardian Hampshire Hotel
- Radisson Blu Edwardian Mercer Street Hotel
- Radisson Blu Edwardian Bloomsbury Street Hotel
- Radisson Blu Edwardian Berkshire Hotel
- Radisson Blu Edwardian Kenilworth Hotel
- Radisson Blu Edwardian Grafton Hotel
- Radisson Blu Edwardian Vanderbilt Hotel
- Radisson Blu Edwardian New Providence Wharf Hotel
- Radisson Blu Edwardian Heathrow Hotel & Conference
Centre
- Radisson Blu Edwardian Sussex Hotel
About Starwood Capital
Starwood Capital Group is a private investment firm with a core
focus on global real estate. The Firm and its affiliates maintain
16 offices in seven countries around the world, and currently have
over 5,000 employees. Since its inception in 1991, Starwood Capital
Group has raised over $75 billion of
capital, and currently has approximately $115 billion of assets under management. Through
a series of comingled opportunity funds and Starwood Real Estate
Income Trust, Inc. (SREIT), a non-listed REIT, the Firm has
invested in virtually every category of real estate on a global
basis, opportunistically shifting asset classes, geographies and
positions in the capital stack as it perceives risk/reward dynamics
to be evolving. Starwood Capital also manages Starwood Property
Trust (NYSE: STWD), the largest commercial mortgage real estate
investment trust in the United
States, which has successfully deployed over $91 billion of capital since inception and
manages a portfolio of $27 billion
across debt and equity investments. Over the past 31 years,
Starwood Capital Group and its affiliates have successfully
executed an investment strategy that involves building enterprises
in both the private and public markets. Additional information can
be found at starwoodcapital.com.
About Edwardian Group
Edwardian Hotels London is one of the UK's leading privately
owned hotel groups, which has been operating and developing its
hospitality portfolio since Jasminder Singh OBE began his career
within the hospitality industry in 1977; forming the beginnings of
what would become Edwardian Hotels London.
The Londoner, Edwardian Hotels London's latest opening in
London's Leicester Square, is the
world's first super boutique hotel and incorporates 350 bedrooms
and suites, six concept eateries and bars, The Residence, The
Retreat, private screening rooms, seven inspiring meeting spaces
and a stunning ballroom for 850 guests. The Londoner is a member of
Preferred Hotels & Resorts' prestigious Legend Collection.
Edwardian Hotels London also owns and operates The May Fair, and
The Edwardian Manchester, both part of premium lifestyle brand
Radisson Collection, and a range of luxury restaurant and bar
brands, including the award-winning bars and restaurants;
May Fair Kitchen, Peter Street Kitchen and May Fair Bar.
Media Contact for Starwood Capital:
Emma Prenn-Vasilakis
H/Advisors Abernathy
(212) 371-5999
emma.prenn-vasilakis@h-advisors.global
Media Contacts for Edwardian
Group:
Alex Simmons,
alex.simmons@edelmansmithfield.com / +44 7970 174353
James Geddes,
james.geddes@edelmansmithfield.com / +44 7811 752279
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SOURCE Starwood Capital