London's Jolly St Ermin's hotel sold for £65m
The 275- bedroom, four star Jolly St Ermin's hotel in London has been sold by Spanish hotel chain, NH Hoteles, to a group of international investors for £65m.
NH Hoteles acquired the hotel in Westminster in 2007 when it bought the Italian hotel chain, Jolly Hotels.
It has decided to dispose of the property as it regards the hotel as non-strategic to its portfolio of 393 hotels in 24 countries in Europe, America and Africa.
A spokesman for NH Hoteles said that a £27m refurbishment would need to be carried out at the St Ermin's in order to bring it up to the standards the group offers its guests.
NH Hoteles now operates three hotels in London. As well as the Kensington and Harrington Hall, both in Kensington, it has also just added the 212-bedroom, four-star Hesperia London Victoria to its portfolio following an agreement to take over the management of the 52-strong Hesperia chain of hotels.
NH Hoteles makes no comment on reported sale of Jolly St Ermin's hotel >>
NH Hoteles buys its first UK property >>
Spanish group Hesperia buys London hotel >>
By Janet Harmer
E-mail your comments to Janet Harmer here.
Caterersearch.com jobs
Looking for a new job? Find your next hotel job here with Caterersearch.com jobs
|
