Qatari Sheikh Explores Sale of US$869 Million London and Paris Hotels

By Dev Anand | 8 August 2019

Location: Two in London – St Martins Lane and Berners Street, W1, UK…and Etoile, Paris, France

Name: St Martins Lane, The Sanderson and Hyatt Regency Paris Etoile

No. of Keys: 204, 150 and 995 = 1,349

The Properties: The two in London are managed/branded under SBE (was Morgans), now 50% owned by Accor and were high-profile boutique additions to the London hotel-scene when they opened in the 1980’s.

The Hyatt Regency Etoile, one of the largest hotels in Paris, originally opened as the Concorde Lafayette, had a total refurb in 2017.

At this stage Sheikh Hamad bin Jassim Al Thani is said to be “only considering the sale” of the three hotels.

Sheikh Hamad, often referred to as HBJ, served as Qatar’s prime minister from 2007 to 2013 and was head of the Qatar Investment Authority, the country’s sovereign wealth fund. Both the fund and the Qatari royal family have been among the most prolific investors in luxury property in the world, snapping up trophy hotels, office buildings and stores in cities including London, Paris and New York.

The Sanderson and St Martins Lane hotels in London’s Soho and Covent Garden districts were last traded in 2011 for about 192 million pounds, according to a filing from QInvest LLC, the Qatari bank that advised on and helped finance the deal.

Main Photo: A bedroom at the Hyatt Regency Paris Etoile

Tenure: TBA

Brand/Management: Brands and management in place

Current Owner: The former Qatari Prime-Minister

Guide Price: London: around £250m for the two; Paris: €500m

Guide Price per Key: London: £706,215; Paris: €502,513

Agent: JLL for London and Eastdil for Paris

Date Posted: August 2019

THPT Comment: Interesting time to sell….Market at a high?

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