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

August was the third consecutive month of year-over-year gross operating profit decline.

Columbia Sussex bought a Hilton Garden Inn, a Hampton Inn and a Homewood Suites by Hilton, adding 348 rooms to its portfolio.

The U.S. lifestyle hotel brand has 922 rooms across four hotels in New York City, Miami Beach, Los Angeles and Chicago.