Date: November 2017. Completion due 2021
Location: London, UK – Belgravia
Name: The Peninsula, London, five star
No. of Keys: 190 plus 25 residential apartments
Seller: Freehold is owned by Grosvenor (Duke of Westminster)
Buyer: The Hongkong and Shanghai Hotels Ltd, purchased 50% of the lease of 1-5 Grosvenor Place, Belgravia for £132.5m in 2013. In 2016 HSH now have 100% of the project, with Grosvenor remaining the landlord.
Price: £132.5m plus £107.5m plus development cost!
THPT Comment: Clearly it will be among, if not The, best hotel in London when it opens. With The Peninsula Yangon, Myanmar and The Peninsula Istanbul, Turkey opening in the next few years, HSH will have 7 fabulously luxury hotels, with the main base being Asia. They also have a Golf Club in Carmel, USA and the Thai Country Club in Bangkok, Thailand and mirroring Belmond in some small way, The Peak Tram in Hong Kong.
There is a member’s club available at 6-7 Grosvenor Place, right next door (as at November 2017). Will be interesting to see who takes that and their relationship with Peninsula.
First Seen: HSH Website