Marriott has agreed the sale of the London hotel, together with two other Edition hotels currently under development in Miami Beach and New York, for $815m (£496m) - a figure which is roughly equal to the total development costs of all three hotels. The company will continue to operate all three hotels.
The Miami Beach Edition and the New York Edition are due to open in the second half of 2014 and the first half of 2015 respectively.
Arne Sorenson, president and chief executive officer of Marriott International, said that the sale of the hotels is a powerful endorsement of the Edition brand. "This transaction is a key component of our strategy to build the Edition brand by selectively developing spectacular, brand-defining hotels in gateway cities. We look forward to managing these hotels for many years."
The London Edition, which features Berners Tavern operated by Jason Atherton, joined the Istanbul property to become the second hotel in Marriott's lifestyle brand. Future Edition hotels are planned for Los Angeles; Abu Dhabi; Sanya, China; Gurgaon, India; and Bangkok.
Marriott International operates a total of 18 brands including the Ritz-Carlton, JW Marriott, Bulgari, Renaissance, Autograph Collection, and Courtyard.