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

Crimson Hotels buys the Park Inn London

19 November 2009 by
Crimson Hotels buys the Park Inn London

The Park Inn London in Russell Square has been sold to the Crimson Hotels Group, the independently-owned, UK-based hotel company, for an undisclosed sum.

The sale of the 214-bedroom hotel, which includes a restaurant, bar and 14 conference and meeting rooms, was handled by Ernst & Young, administrators for WG Mitchell, the Northern Ireland-based property company owned by brothers Patrick and Hugh Hegarty.

Formerly known as the Bonnington, the property was bought by WG Mitchell in 2007 for £70m.

Crimson, which currently owns and manages 11 hotels in the UK, Portugal and Dubai, plans to upgrade the property' reception, food and beverage outlets and meeting rooms. It is also looking to re-brand and re-position the hotel, which is currently operated by Rezidor under the Park Inn brand.

In the UK, Crimson operates six hotels including the Crowne Plaza Gatwick-Crawley and the Holiday Inn Woking, and is currently building the largest Holiday Inn Express in Europe with 300 bedrooms, near London Heathrow Terminal 5.

Director of Crimson, Aly Kassam, said: "This is a time of growth and expansion for our company and the addition of this central London property to our portfolio is an exciting opportunity for us."

More than 50 formal tours of the hotel were carried out by the agents Christie + Co, culminating in a combined £1b-worth of funded offers through a multi-stage bidding process.

"What this sale clearly identifies is the huge demand for true central London hotels from well-funded UK, Far East, Middle East and US buyers," said Jeremy Jones, director at Christie + Co.

Administrators seek £50m for two Park Inn hotels >>

Largest Holiday Inn Express in Europe to open at Heathrow >>

Crimson Hotels in Top 100 Hotels >>
By Janet Harmer

E-mail your comments to Janet Harmer here.

If you have something to say on this story or anything else join the debate at Table Talk - Caterer's new networking forum. Go to www.caterersearch.com/tabletalk

Caterersearch.com jobs
Looking for a new job? Find your next hotel job here with Caterersearch.com jobs

Blogs on Caterersearch.com](http://www.caterersearch.com/blogs) Catch up with more news and gossip on all Caterer's blogs
[Newsletters For the latest hospitality news, sign up for our e-mail newsletters.
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 Group 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