Location: Grosvenor Square, Mayfair, London, UK
Name: Marriott Hotel Grosvenor Square
No. of Keys: 237
The Property: The hotel started life as Grand Metropolitan’s Europa Hotel in the 1960s and changed hands several times, most recently to Hong Kong’s private equity firm Joint Treasure who paid £125m in 2014, to the then owner, Strategic Hotels of the USA.
Joint Treasure did try to sell the leasehold in July 2017 for £200m via Eastdil…the trouble being the leasehold only has 38 years left to run. They are now asking £180m.
Marriott have a long-term management agreement so forget flag-free! The new owned would need to acquire an leasehold extension from freeholder, Grosvenor (Estates).
Gordon Ramsay’s previously Michelin-starred Maze restaurant was located in the hotel until it closed in January, and is set to be replaced by a new concept.
The hotel is opposite the due-to-be-opened new Biltmore Mayfair, owned by Millennium Copthorne.
Main Photo: The exterior of the hotel
Tenure: Short Leasehold
Brand/Management: Under long-term HMA with Marriott
Current Owner: Joint Treasure
Guide Price: £180m
Date Posted: September 2019
THPT Comment: What a piece of real estate…if one could get the freehold, or at least 150 leasehold extension
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This is a new feature on the THPT site…. Hotel & Serviced Apartment owners can be naturally reticent in publicising their property is for sale…for confidentiality reasons, for staff and current client reasons, so the properties featured in this section will either be “generic” or “name specific”
Each fortnight we mail the opportunities posted that week, but check-out the tab “Hotels Available” and call us for details of “Under the Table” – deals not posted on the site at all
The Hotel Property Team (THPT) is a small group of highly experienced business professionals. Between us, we provide a range of skills and experience which is directly relevant to those involved in the hotel property market.
MISREPRESENTATION ACT 1967. This information is provided as a general guide and is not intended to be constructed as a statement of fact upon which interested parties can rely. All interested parties should make their enquiries by inspection or otherwise. Neither The Hotel Property Team (trading name of Impetus Marketing 2006 Ltd) nor any person in our employment has the authority to make, give or imply any representation or warranty whatsoever relating to the premises referred to in these particulars. These details do not constitute any offer, contract or any part thereof and all negotiations relating to the premises should be conducted through THPT.