Edwardian Hotels has sold all ten of its Radisson Blu Edwardian hotels to private equity firm Starwood Capital.
Reports by Bloomberg price the sale of the hotels, representing 2,053 rooms, at about £800 million.
Edwardian Hotels London will retain and continue to operate the five-star hotels The Londoner and its two Radisson Collection hotels The May Fair and The Edwardian Manchester.
Why it matters
Private equity investment in the hotel sector is expected to increase in 2024, with Will Duffey head of EMEA Hotels & Hospitality Capital Markets at JLL telling Hospitality Investor that he believes private equity capital will really get going in Q2 or Q3, with bigger deals being done.
What they said
Inderneel Singh, CEO of Edwardian Group said: “This sale represents an opportunity to refocus the group and position it for its next chapter. Our three landmark properties - The Londoner, The May Fair Hotel, and The Edwardian Manchester – are perfect showcases of our vision for the future, and we remain committed to investing in and delivering distinctive experiences for guests in high-end, purpose-built, city-centre hotels.”