London's Park Inn Hyde Park sold for £35m

08 July 2010 by
London's Park Inn Hyde Park sold for £35m

The 188-bedroom Park Inn Hyde Park has been sold to a private investor for a sum believed to be in the region of the £35m asking price.

Considerable interest was shown in the property, which is managed by the Rezidor Hotel Group under the Park Inn brand, with more than 40 viewings of the hotel taking place.

The hotel was sold by the Gresham Hotel Group, which wanted to offload the property to concentrate on its Irish and Continental European portfolio.

The sale was handled by Christie & Co, which last year sold the Park Inn London in Russell Square to Crimson Hotels for a sum in excess of £45m.

"This sale is further evidence that there is huge demand for true central London hotels from well-funded buyers," said Jeremy Jones, director at Christie & Co. "Interest for this hotel came from a variety of investors and operators. The upshot of this deal is that we have a variety of well-funded bidders who are keen to secure substantial central London hotels."

Gresham seeks £35m plus for the Park Inn Hyde Park >>

Crimson Hotels buys the Park Inn London >>

Rezidor Hotel Group to open more Park Inns >>

By Janet Harmer

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