Ashkenazy Buys Iconic London Hotel
- Jul 10, 2017
Ashkenazy Acquisition Corp. added an iconic asset, The Grosvenor House Hotel in London, to its portfolio. Although financial terms have not been disclosed, the transaction constitutes, according to the buyer, the most significant single-asset hotel deal in U.K. history.
Built in the 1920s, The Grosvenor House Hotel opened its doors in 1929 and brings 350 years of London history and tradition to life in one of the most prestigious luxury markets globally. The asset is located on Park Lane, in close proximity to Hyde Park, Oxford Street and Buckingham Palace.
The eight-story asset offers 420 guestrooms and 76 suites, 64,110 square feet of meeting space across 26 rooms, a fitness center, a renovated lobby, multiple dining options, as well as other 5-star amenities. All of the rooms feature marble bathrooms, workspaces and panoramic views of Park Lane or Hyde Park.
Global Expanding Plans
Ashkenazy Acquisition Corp. has a portfolio valued at more than $10 billion, consisting of retail, hospitality, office and residential assets. The acquisition reflects the company’s plans to spend an additional $2.2 billion of equity in acquiring global iconic assets over the next two years.
Other iconic assets owned by Ashkenazy include Union Station in Washington, D.C., Faneuil Hall Marketplace in Boston, 625 Madison Ave. in New York and Bayside Marketplace in Miami.
Images courtesy of JW Marriott Grosvenor House London