Starwood acquires 10 London properties from Edwardian Hotels

Starwood Edwardian

[Credit: Radisson Blu Edwardian Bloomsbury Street Hotel]

UK: Global private investment firm Starwood Capital Group has acquired a portfolio of 10 properties from Edwardian Hotels for an undisclosed sum.

The portfolio represents 2,053 rooms, which Edwardian will continue to operate on a transitional basis. Edwardian will also retain and continue to operate The Londoner and its two Radisson Collection hotels: The May Fair and The Edwardian Manchester.

BHN understands that Axiom Hospitality has been appointed to manage the portfolio under Starwood. Bloomberg reported that the deal was worth around £800 million.

The acquisition adds to Starwood’s existing portfolio of European hotel investments, which following the transaction will comprise 47 hotels of circa 10,000 rooms.

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.”

On behalf of Edwardian Group, JLL provided real estate advisory services and Baker McKenzie provided legal services. Paul Hastings (Europe) LLP acted for Starwood Capital on the acquisition.

The hotels featured in the transaction include:

• 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

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