London's Thistle Kensington Gardens Hotel goes on the market

In West London, GuocoLeisure is selling the Thistle Kensington Gardens Hotel, with JUL assisting. 

According to SBR, the hotel is poised to command a good price given its "prime location and redevelopment potential." A report from RHB Research (citing an independent valuation report by Christie + Co. from two years ago) suggested that the 175-room hotel was one of the two such properties in GuocoLeisure’s portfolio with a notable redevelopment potential.

GuocoLeisure is also reportedly reviewing its plans for the 800-room Tower Hotel, and debating whether to push for refurbishment or consider redevelopment.

FREE DAILY NEWSLETTER

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.

“We expect the group to review its other non-core assets this FY (Clermont Club casino license, Molokai property interest and Bass Straits oil royalty),” RHB Research said.
 

Suggested Articles

As of October, on a year-over-year basis, GOPPAR was down 2.8 percent, according to data from HotStats.

The 1.25-million-square-foot property, slated to open in December 2020, will include 777 guestrooms and an outdoor pool amphitheater.

Following its purchase of Seiler & Partenaires Holding SA, Aevis Victoria has bought eight Swiss hotels, including the InterContinental in Davos.