Global real estate advisor, Colliers International’s Hospitality Asset Management division in the UK, has advised Sahara Grovenor House Hospitality Ltd, the sellers of The Grosvenor House Hotel, London, on the disposal of its long leasehold interest in the hotel to US private real estate investment firm, Ashkenazy Acquisition Corporation, for £575 million.
American hotel chain, Marriott International, will continue to occupy the hotel under its operating lease. Ashkenazy Acquisition Corporation has retained Colliers International’s Hospitality Asset Management team, which it has worked with for 15 years, for the ongoing asset management of the hotel.
, Director in Colliers International’s Hotels and Resorts Consulting
team, who acted on behalf of Sahara Grovenor House Hospitality Ltd, commented: “There have been various ongoing challenges with the sale of this property however this final transaction will enable the hotel to prosper and flourish under its new ownership. We look forward to delivering the investors’ expectations through hands on asset management of the hotel.”
Colliers International’s Hospitality Asset Management team was added to Colliers’ existing hotel capabilities following the company’s acquisition of Vision Hospitality Asset Management in January 2017.
Clive Hillier, adds: “The recently enlarged and comprehensive hotels capability at Colliers International has been extraordinarily successful in providing a full spectrum of services to major hotel investors. Our combined extensive knowledge of the hospitality sector has seen us entrusted to advise on some of the world’s most iconic hotels and we look forward to extending our influence in the market as the year progresses.”