Nomura to spend £170m on London hotels

23 July 2001
Nomura to spend £170m on London hotels
Three of London's top hotels are to benefit from a £170m makeover. Nomura International, the Japanese bank that recently acquired hotel group Le Méridien, plans to give the Grosvenor House, Cumberland and Waldorf hotels a more modern style. The 448-bedroom Grosvenor House will receive an investment of £90m to upgrade its function room and add a further 243 bedrooms and 80 apartments. The 900-bedroom Cumberland gets £70m and the 292-bedroom Waldorf will be refurbished with an investment of £10m. A spokesman for Nomura said that a total of £350m would be invested across the Le Méridien estate over the long term. Nomura bought the international hotel chain last month in a £1.9b deal with the Compass group. Méridien has 4- and 5-star hotels with over 40,000-bedrooms in more than 55 countries.
The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Check mark icon
Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.


Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking