Corbin & King has confirmed that it is to lose the management contract at the Beaumont in London's Mayfair, four years after the renowned restaurant group opened the five-AA-star, 73-bedroom property as its first hotel.
The news was revealed by Jeremy King who, with business partner Chris Corbin, has created one of the UK's most successful restaurant companies. Together, they initially ran the Ivy and Le Caprice before selling up and launching their current business which comprises seven standalone restaurants including the Wolseley, the Delaunay, Brasserie Zedel and Colbert.
As a result, in 2016 Corbin and King relinquished the leasehold it held on the Beaumont to the freeholder Grosvenor. The two parties then agreed that Corbin and King would "manage and operate the Beaumont and Colony Grill (the hotel restaurant) on a management contract for Grosvenor, replacing the previous landlord and tenant arrangement".
In June this year it was revealed that Grosvenor had put the leasehold of the hotel on the market, with a price tag of between £110m and £120m.
In a newsletter titled Maybe I have gone all "Que serÁ¡, serÁ¡", King said that the Barclay family, owner of the Ritz London was now the new owner of the hotel.
He wrote: "The new owners, the Barclay family, are experienced hoteliers and will in time take on the management. I am inevitably sad to let it go but it is the right course of action. Que serÁ¡, serÁ¡."
Ciaran Fahy, chief executive of Ellerman Hotel Company (EHC), which is owned by the Barclay family, confirmed that EHC had bought the Beaumont hotel.
"We are delighted to have the Beaumont and we are currently working with Jeremy King and the hotel team, headed by general manager Jannes Soerensen, during the transition period."
Fahy also confirmed that the hotel, which features the Colony Grill restaurant, will remain known as the Beaumont.