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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