Le Meridien Piccadilly sold for £64m

23 July 2010 by
Le Meridien Piccadilly sold for £64m

The five-star, 266-bedroom Le Meridien Piccadilly hotel, London, has been bought by Host Hotels & Resorts for £64m.

The purchase price includes the assumption of a £33m mortgage. Previously owned by Starman Hotels, the hotel has recently undergone a £6m refurbishment and includes a health club featuring one of the largest indoor hotel swimming pools in London.

Starwood Hotels will continue to operate the hotel under the Le Meridien brand.

Felicity Black Roberts, property director for Starman Hotels, said: "In keeping with our divestment strategy, we are delighted with the sale of this property. We chose Host as our preferred purchaser owing to their track record and they have secured an excellent addition to their portfolio."

Host, a US-based company, is one of the largest owners of luxury hotels, which are operated under a variety of different brands. It currently owns 110 properties with a total of 61,000 rooms.

The sale of the property was handled by Jones Lang LaSalle Hotels.

Starman hotels seeks up to £70m for Le Meridien Piccadilly >>

Le Meridien on Piccadilly for sale for £90m >>

Starwood inches nearer to Le Meridien deal >>

By Janet Harmer

E-mail your comments to Janet Harmer here.

If you have something to say on this story or anything else join the debate at Table Talk - Caterer's new networking forum. Go to www.caterersearch.com/tabletalk

Caterersearch.com jobs

Looking for a new job? Find your next job here with Caterersearch.com jobs

[Newsletters For the latest hospitality news, sign up for our e-mail newsletters.
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 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