London and Regional Properties acquires first U.S. hotel

The Palm House Hotel in Florida sold for $39.6 million. Photo credit: Cushman & Wakefield

The U.K.-based investor and developer London and Regional Properties has made a foray into the United States, acquiring its its first American property: The Palm House Hotel.

The 79-unit, 82,648-square-foot Palm Beach, Fla., hotel sold for $39.6 million or $501,226 per key via a Section 363 bankruptcy sale facilitated by Cushman & Wakefield. The real estate services firm represented 160 Royal Palm, the court-appointed receiver.

The hotel is located on a 1.38-acre site on Palm Beach Island less than one block from the Atlantic Ocean. It was developed in 1961 and expanded in 1981. Significant renovations began in 2006 but came to a halt in 2014. The property is vacant.

Virtual Event

HOTEL OPTIMIZATION PART 2 | SEPTEMBER 10 & 24, 2020

Survival in these times is highly dependent on a hotel's ability to quickly adapt and pivot their business to meet the current needs of travelers and the surrounding community. Join us for Optimization Part 2 – a FREE virtual event – as we bring together top players in the industry to discuss alternative uses when occupancy is down, ways to boost F&B revenue, how to help your staff adjust to new challenges and more, in a series of panels focused on how you can regain profitability during this crisis.


"The Palm House Hotel represented an intriguing investment opportunity in one of world's premier travel destinations," said Robert Given, Cushman & Wakefield’s vice chairman of capital markets for South Florida. "The auction process attracted a global audience of qualified bidders and helped achieve exceptional value for the seller."

London and Regional Properties' plan to to restore and reposition the asset, according to C&W.

Suggested Articles

The project encompassed a real-time, two-way integration between Infor HMS and Glowing’s Digital Engagement Cloud at Mandarin Oriental hotels.

Two upcoming hotels (and one historic property) in sunshine destinations have announced new leaders for their F&B programming.

Many hotel owners will find themselves in the uncomfortable and unfamiliar position of deciding on a course of action for negotiating with their lende