StayWell Holdings, a subsidiary of Japan's Prince Hotels Inc., has acquired The Arch London, its first property under newly created The Prince Akatoki brand, whose signature is visual elements meant to evoke Japan.
The UK property will undergo a refurbishment, rebrand and repositioning in 2019.
“We are very thankful for being able to come across The Arch London,” said Masahiko Koyama, president of Prince Hotels, in a statement. “We will endeavor to transform Prince Hotels from a Japanese chain into a global chain.”
Simon Wan, president and director of StayWell Holdings, said the demand for luxury hotel accommodations in London, particularly the Marylebone and Marble Arch areas, remains “unparalleled,” making the opportunity to acquire The Arch Hotel one the group could not pass up.
“Demand in the London hotel market is strong and resilient; however with a shortage of supply and existing properties being tightly held, it is increasingly difficult for new brands to penetrate the market,” said Wan. “Based on the stable historical returns of the property and its recognized excellence in outstanding customer service, alongside the brand promise of The Prince Akatoki, I am confident this hotel will be a welcome addition to the vibrant neighborhood it will reside in.”