Archer Hotel Capital has completed its purchase of the 210-key Hoxton Shoreditch and the 220-key Hoxton Holborn in London from Norlake Hospitality.
Archer, which is a specialist European hotel investment vehicle jointly owned by affiliates of APG Asset Management and GIC, purchased the hotels for around £215 million. The hotels will continue to be managed by Ennismore.
Archer was advised by Hogan Lovells, Pricewaterhouse Coopers, TFT Consultants, Lockton and Howden M&A.
Why it matters
The purchase amount bodes well for transaction sizes in 2024 and indicates continued confidence in the growth and stability of the London hotel market moving forward.
What they said
Dominic Seyrling, managing director of Archer Hotel Capital said: “We are delighted to return to London with two high-quality assets with strong brand recognition in the market and in highly sought-after locations. As Europe’s leading hotel market, London remains a key city for Archer’s long-term strategic vision. We are equally pleased to enter a new operating relationship with Ennismore, which has set the benchmark in the lifestyle space over the last decade.