Al Habtoor Group Acquires Hilton Hotel Wembley in International Expansion Plan
Date: February 2016
Location: Wembley, Middlesex, London, UK
Name: Hilton London Wembley – four star. The hotel overlooks the National (football) Stadium in the heart of Wembley Park, an 85-acre regeneration project involving the development of large-scale retail, residential, offices and entertainment facilities.
No. of Keys: 361, indoor swimming pool, and 693 sq. mtrs ballroom that can hold 700 pax.
Seller: Opened in 2012 by Oaktree Capital Management at a cost of £70m. Oaktree was advised by CBRE
Buyer: Al Habtoor Group, headed up by chairman Khalaf Ahmed Al Habtoor.
The purchase brings the total number of hotels, outside of their home country – Dubai/UAE, to six. The Group has two Hilton-branded hotels in Lebanon (Hilton Beirut Habtoor Grand Hotel, Hilton Beirut Metropolitan Palace), one in the United States (President Abraham Lincoln Springfield – a DoubleTree by Hilton Hotel). In addition the Group has two five-star hotels in Hungary (InterContinental Hotel Budapest, Elizabeth Park Hotel, Budapest, A Ritz-Carlton Partner Hotel).
In December 2015 Al Habtoor said he had allocated AED 2 billion for overseas investments in 2016. The Al Habtoor Group has been expanding its hospitality both internationally and locally over the past few years. The Group’s Dubai assets include the Habtoor Grand Beach Resort & Spa, Autograph Collection; the Waldorf Astoria Dubai Palm Jumeirah. It recently opened the first hotel in the much-anticipated Al Habtoor City complex – The St. Regis Dubai. Two more hotels within the multi-use development will open in the coming months (W Dubai – Al Habtoor City, and The Westin Dubai, Al Habtoor City).
In addition, the Al Habtoor Group is developing a large-scale project in DubaiLand – The Al Habtoor Polo Resort & Club, which will see a St. Regis as the centrepiece. It is also in the process of developing a new Metropolitan Hotel on Sheikh Zayed Road.
Price: Asking price was £95m
Price per Key: £263,158
THPT Comment: Fab property with 9th floor SkyBar with outdoor terrace, looking straight into the Stadium, until developers build some new flats obstructing the view!
First Seen: Al Habtoor website