London hotel on the market for more than £350 million

In London, the Kensington Close Hotel is on the market for an estimated price of more than £350 million.

Savills and CBRE have reportedly been appointed to sell the hotel after Cola acquired the freehold to the property back in 2002 for £70 million in a purchase from InterContinental Hotels Group.

Virtual Event

HOTEL OPTIMIZATION PART 2 | Now Available On-Demand

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.


Owned by Kurdish businessman Bakir Cola, the hotel has more than 708 rooms and is located close to High Street Kensington close to a tube station. In addition to Kensington Close, Cola has owned Kingsway Hall and The Westbury.

EY's global hospitality report, released at the beginning of 2015, suggested that 2015 would be a strong year for the industry thanks to growth and increasing levels of innovation and demand. In conjunction with this, M&A activity in the sector has seen solid year-on-year growth and is expected to continue at a healthy rate.

 

Suggested Articles

Two conferences traditionally held in the first half of each year are rescheduling for the second half.

Brands have opened new properties in Illinois, Ohio and New York City.

A new entity will combine a number of brands, including Hoxton, Gleneagles, Delano, SLS, Mondrian, SO/, Hyde, Mama Shelter, 25h and 21c Museum Hotels.