A second Hoxton hotel is set to open in London next year after the new owner of the design-led budget brand completed on a property deal earlier today.
Sharan Pasricha of private equity group Ennismore Capital is believed to have paid around £30m for a former BT office block in Holborn, close to Covent Garden and the City of London.
Building work will start early in the new year to convert the property, at a cost of £15m, to a 175-200 bedroom hotel.
On purchasing the original Hoxton hotel in Shoreditch in May this year for about £65m, Pasricha said that the brand had potential for expansion, with the opening of at least two more hotels in London before launching in New York.
"The key DNA of the brand will remain intact," he said at the time. "We love the bare brick walls, the slightly tatty leather sofas and the Soho House-operated food and beverage concept. This is something we want to continue to invest in and grow elsewhere."
It is expected that the new Hoxton will retain the look of the original hotel, but with some additional surprises.
Ennismore is also negotiating for a third hotel site in the capital, south of the river.
By Janet Harmer
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