Spanish hotel group buys in London
04 May 2004 by Samantha McClary
Spanish hotel group Derby Hotels has bought its first hotel in the UK and is looking to expand further outside its home territory.
The group has just bought the 160-bedroom Caesar hotel near London's Hyde Park for €30m (£20.3m), its first hotel outside Spain. Christie & Co was the agent.
Derby, which has 10 foue- and five-star hotels in Madrid and Barcelona, plans to refurbish the hotel, losing a few bedrooms, and making public areas and some of the bedrooms bigger. It will also add its trademark Egyptian art to the property's interiors.
As well as London, Derby is looking to expand into Paris and New York.
The Caesar was bought in partnership with Spanish investor Gruppo Metropolis.
