Gresham seeks £35m-plus for the Park Inn Hyde Park hotel

05 March 2010 by
Gresham seeks £35m-plus for the Park Inn Hyde Park hotel

The Rezidor-managed Park Inn Hyde Park hotel, London, is up for sale with a price tag in excess of £35m.

Currently owned by the Gresham Hotel Group, the 188-bedroom listed building on Lancaster Gate is close to Hyde Park and Kensington Gardens.

"In recent months, the number of enquiries made to us from parties interested in our London hotel has escalated," said Patrick Coyle, chief executive of the Gresham Hotel Group.

"As we continue to focus on our group of Irish and continental European hotels we see this therefore as a perfect opportunity to conduct a structured sales process of our London asset."

The property is being marketed by Christie + Co. Jeremy Hill, head of hotels for Christie + Co said having just completed on the sale of the Park Inn Russell Square, the company has a large number of UK and international buyers desperately keen to secure a central London hotel.

"Rezidor's management of the Park Inn Hyde Park will encourage interest from those buyers looking to invest in a hotel with a global operator in place," he said. "Those buyers looking to reposition the hotel and capitalise on the various development scenarios will also be excited by this substantial opportunity."

Rezidor to open more Park Inns >>

Success at last in Gresham takeover saga >>

Crimson Hotels buys the Park Inn London >>

By Janet Harmer

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