Marriott Park Lane to be sold for £100m
25 August 2005
The London Marriott Park Lane hotel is about to be sold for close to its book value of £100m, according to industry sources.
The 157-bedroom property, which is currently owned by Marylebone Warwick Balfour, is set to be bought by a well-established overseas private property investor.
Jan-Willem den Ridder, Marriott's vice-president of international hotel development, said the deal would not affect the hotel or the company's management contract, which stands to run for more than 20 years.
Jones Lang LaSalle, the property agents handling the sale, declined to comment.
