Grosvenor Kensington sold to Spanish hoteliers

13 May 2005
Grosvenor Kensington sold to Spanish hoteliers

Hotusa, the Spanish hotel company, has bought its first property in the UK - the Grosvenor Kensington hotel in London.

The 107-bedroom three-star hotel was sold by London group Muirgold for more than £18m after only 18 months of ownership.

It had previously been part of the Queens Moat House group.

The Grosvenor is the second hotel in the South Kensington area to be sold to a Spanish group in the past three months.

Colin Hall, of agents Colliers Robert Barry, who handled the sale said: "This is yet further evidence of the current strength of the London hotel market…which is being driven largely by Spanish and Irish investors who seem to be able to outbid virtually all other buyers."

Hotusa was set up in 1977 as an independent hotel consortium now has more than 1,500 associated hotels in 31 countries worldwide.

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