The Caterer
Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

MWB seeks £110m for the Marriott Hotel on Park Lane London

31 January 2005 by

Property investor Marylebone Warwick Balfour (MWB) has put the London Marriott Hotel Park Lane on the market for £110m.

<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /?>

MWB and co-owner the Sincere Group of Hong Kong have asked property agent Jones Lang LaSalle to seek buyers for the 157-bedroom Grade II-listed property, which opened in November 2002 following a £95m conversion into a hotel.

-

The move follows MWB's profitable sale of the Howard hotel in London last year for £75m. The group wants to focus on its two boutique brands, Malmaison and the Hotel du Vin chain it acquired last October for £66.4m.

-

It intends to double the combined number of boutique hotels from 15 to 25 or 30 over the next five years.

-

The planned sale will not affect Marriott's management contract with the Park Lane hotel, which runs until 2038 and guarantees the owner a minimum of £5m a year between 2006 and 2012.

-

MWB also owns the Marriott hotel at West India Quay in London, and the Radisson SAS hotel in Glasgow's Argyle Street.

-

by Angela Frewin

-

-

Buy this week's Caterer magazine for more industry news and analysis

The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Check mark icon
Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.

close

Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking