Starwood capital Group a global private investment firm, has expanded its hotel portfolio in Europe with the acquisition of 10 hotels in central London from Edwardian Group.
According to a statement, Edwardian Group, which retains ownership of The Londoner Hotel and two Radisson Collection hotels, will continue to manage the acquired properties on an interim basis.
Stating that London is a leading hotel market, Tim Abram, Managing Director of Starwood Capital Group expressed his excitement about the acquisition by announcing plans for significant capital investment to develop the properties, while Inderneel Singh, CEO of Edwardian Group, stated that they see the sale as a strategic move to refocus on the group's future growth.
The acquisition increases Starwood Capital's European presence to 47 hotels with a total of nearly 10,000 rooms and is part of a broader strategy that has seen the company's global real estate portfolio raise more than $75 billion in capital since its inception in 1991.
The transaction was completed off-market for an undisclosed amount and resulted in the ownership of 2,053 rooms by Starwood Capital.
In the deal, Starwood Capital acquires 10 Radisson Blu hotels in London. Those hotels are:
Radisson Blu Edwardian Edwardian Bond Street Hotel, formerly the Radisson Blu Edwardian Berkshire Hotel
Radisson Blu Edwardian Bloomsbury Street Hotel
Radisson Blu Edwardian Grafton Hotel
Radisson Blu Edwardian Hampshire Hotel
Radisson Blu Edwardian Heathrow Hotel & Conference Centre
Radisson Blu Edwardian Kenilworth Hotel
Radisson Blu Edwardian Mercer Street Hotel
Radisson Blu Edwardian New Providence Wharf Hotel
Radisson Blu Edwardian Sussex Hotel
Radisson Blu Edwardian Vanderbilt Hotel
