The Caterer

Blackstone sells Marriott Grosvenor Square

02 August 2006
Blackstone sells Marriott Grosvenor Square

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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