Chow Tai Fook purchases the Marriott London Grosvenor Square Hotel

Chow Tai Fook Group purchased the 237-room Marriott London Grosvenor Square Hotel in central London for $207.92 million.

The deal works out to $877,000 for each room, making it the second-most expensive hotel deal in London this year in terms of price per room.

New York-listed Strategic Hotels & Resorts announced it had sold the hotel to an affiliate of Hong Kong-based private equity firm Joint Treasure International.


Like this story? Subscribe to IHIF!

The hospitality industry turns to IHIF International Hotel Investment News as the must-read source for investment and development coverage worldwide. Sign up today to get inside the deal with the latest transactions, openings, financing, and more delivered to your inbox and read on the go.

Agents said Joint Treasure had seven partners, including the Wee family, owner of Singapore's United Overseas Bank, and David Chiu of Far East Consortium International. They said different partners were involved in different property purchases, depending on their preferences.

George Nicholas, EVP at property consultant Jongs Lang Lasalle's hotels and hospitality group, who was involved in the deal, said London was the most sought-after investment destination among hotel investors in Europe because of the strong and improving market fundamentals.