The owner of the Kingsley by Thistle hotel has sold the freehold for the building to a private client of Citi Private Bank for around £40m.
The move to sell by private equity firm CIT follows an extensive refurbishment of the hotel. CIT owns and manages 20 hotels through the CIT UK Real Estate Limited Partnership.
The hotel will continue to run as normal, having been sold with a management contract with Guoman Hotel Management (UK).
The 129-bedroom hotel, which is close to the British Museum and Oxford Street, has a restaurant, separate bar and loung and seven air-conditioned meeting rooms.
CBRE Hotels acted for CIT in the sale. Owen Pritchard, associate director of CBRE Hotels in Europe, the Middle East and Asia, said: "CBRE Hotels received great interest for this hotel from our global buyer base. They were attracted by the high quality of the hotel and its excellent location."
By Neil Gerrard
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