London hotels sell for over asking price
01 January 2000
Two London hotels put into receivership in February this year have been sold through property agent Knight Frank & Rutley for substantially in excess of the £3m asking price.
The 42-bedroom Byron Hotel and 41-bedroom Hotel Tria, both in Bayswater, were formerly part of Sty-Al Hoteliers. The buyer, believed to be from the Far East, is running the hotels through its own management team.
In a separate sale, also in London, Knight Frank is understood to have secured close to £3.5m for the Hotel Lexham in Kensington. The 66-bedroom property was sold by private vendors to developers who are expected to turn the building into flats.
