UK: Hotel operator and lease provider AGO Hotels has opened the four-star Rove London Paddington Hotel, the group’s first city centre property in the UK capital.
The Rove London Paddington Hotel offers 75 rooms and is located close to the Paddington train station on Norfolk Street.
It marks the fifteenth hotel in the AGO portfolio. The company predominantly operates Ibis budget hotels across the UK.
Lionel Benjamin, co-founder of AGO said: “In the competitive central London hotel market, this is an especially exciting opening for AGO and we are delighted to have secured this property. Now with the doors open to the newly refurbished The Rove London Paddington Hotel, we are looking forward to providing guests with a comfortable and convenient place to stay whether they are travelling for business, enjoying a staycation or visiting families and friends.”
Viv Watts, co-founder of AGO added: “These past few years have presented the hotel investment market with challenges, but this new opening is an indication the market is recovering and there are new hotel deals to be done. We are confident the new hotel will deliver the returns expected by the owners.”
AGO Hotels formed in 2019 in response to the Covid-19 pandemic. The business model is based on a lease structure that aligns the interests of landlords and tenants by giving landlords a share in the profits generated by their assets, underpinned by a guaranteed rent.