Caterer and Hotelkeeper – 26273

London's luxury Regent hotel (above), which has been on the market virtually since the day it opened more than two years ago, has finally been sold.

The buyer, for a rumoured £72m, is the Thai Landmark group, owner of the Landmark of Bangkok, which made its first foray into the London market last year with the purchase of the 418-bedroom Royal Lancaster Hotel for £64m.

The exchange of contracts last week brings to an end months of speculation, during which rival Far Eastern groups CDL Hotels International and Dusit Sindhorn had appeared to be close to signing deals. Agent in the sale was Jones Lang Wootton.

Four Seasons/Regent Hotels & Resorts, which currently operates the 309-bedroom property under contract on behalf of Japan's Hazama Corporation, will not be retained.

It is understood Landmark will take direct management control and market the property through a consortium. The hotel will probably be renamed the Landmark of London.

Total investment since the project was conceived is put at more than £125m.