Wednesday, August 2nd 2006, 15:44
Private equity group Blackstone Real Estate Partners has sold the Marriott London Grosvenor Square hotel for £103m to Chicago-based Strategic Hotels & Resorts.
The Mayfair property has 236-bedrooms and has recently completed a £12.8m refurbishment.
It is also home to Michelin-starred Maze Restaurant, run by chef-patron Jason Atherton as part of the Gordon Ramsay stable.
The deal is expected to complete by September.
Strategic has also entered into an agreement to buy the 65% interest in the InterContinental Hotel in Prague for $68.8m (£36.7m) held by EU-Hotel, an affiliate of GIC Real Estate.
This will give it sole ownership of the luxury property in the city’s old town area.
Blackstone to buy seven European Center Parcs sites >>
Center Parcs refused fifth site >>
Blackstone buys Center Parcs’ UK property >>
Blackstone wins bidding war for Hospitality Europe >>
Maze – Return of the native >>
A minute on the clock: Jason Atherton >>
By Chris Druce
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