Starwood Capital Group, a global private investment firm with a focus on real estate, has acquired a portfolio of 10 hotels with 2,053 rooms in Central London from Edwardian Group for an undisclosed sum via an off-market transaction.
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 plan to partner on additional opportunities and 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 European hotels totaling approximately 10,000 rooms.
“We are delighted to have had the opportunity to acquire this one-of-a-kind portfolio of Central London freehold hotels,” Tim Abram, managing director at Starwood Capital. “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.”