Search
The Caterer

Westmont set to acquire Blackstone's Westminster DoubleTree hotel for £190m

25 January 2017 by
Westmont set to acquire Blackstone's Westminster DoubleTree hotel for £190m

American private equity company Blackstone is set to sell its 460-bedroom DoubleTree by Hilton London-Westminster hotel for around £190m to US-based Westmont Hospitality Group.

The sale will leave only one hotel remaining in Blackstone's once eight-strong Mint portfolio. Blackstone acquired the hotels from Lloyds Banking Group in 2011 for around £600m and is reducing its investment in the hotel sector having sold four former Mint hotels to Marathon Asset Management last year for around £160m.

Mint Hotels, founded by David Orr and his father Sandy and Donald MacDonald in 1995, was forced into selling the business after building up debt of £417m, largely stemming from the development of the Mint hotel in the City (now the DoubleTree by Hilton London-Tower of London) and a 553-bedroom hotel in Amsterdam. Following their sale to Blackstone, each Mint hotel was rebadged under Hilton Worldwide brands.

Westmont Hospitality Group was founded by Majid Mangalji in 1975 and today is believed to be one of the largest privately owned companies in the sector with more than 500 hotels, operating both independently and under a diverse portfolio of brands from InterContinental Hotels Group, Hilton Worldwide, Accor, Starwood, Wyndham and Best Western.

Blackstone sells Doubletree by Hilton - Tower of London for over £300m >>

Two Mint hotels in London rebranded as Doubletree by Hilton >>

Newly sold Mint Hotels to be branded as Hilton Worldwide properties >>
Are you looking for a new role? See all the current hospitality vacancies available with The Caterer Jobs

The Caterer Breakfast Briefing Email

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

Sign Up and manage your preferences below

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.