Singapore-based investment firm Sun Venture has acquired Hyatt Place London City East from Resolution Property.
Located in Aldgate, the 280-key hotel was previously an office. The hotel opened in 2021 with BREEAM Excellent certification and is on the Net Zero pathway in reference to the CRREM tool.
The purchase marks Sun Venture’s first investment into the hotel sector. While financial details were not disclosed, media reports price the deal at £100 million.
The hotel will continue to be managed by Cycas Hospitality.
JLL acted for Resolution Property.
Why it matters
Sun Venture's first foray into the hotel sector, with a substantial investment estimated at £100 million, signals strong international confidence in the hotel market, particularly in key locations such as London.
The move also indicates a broader trend where firms previously focused on other types of real estate are now recognizing the value and potential returns from the hotel sector.
What they said
Esther Siam, director, real estate at Sun Venture said: “Sun Venture is pleased to acquire Hyatt Place London City East, a quality hotel with strong trading performance and notable green credentials. This marks our first hotel acquisition and aligns with our strategy to expand and diversify our real estate portfolio. As a firm, we see great strength and resilience in the hotel sector in London and other gateway cities and look forward to growing our footprint in the sector.”
Scott O’Donnell, partner at Resolution added: “Resolution Property acquired the asset in 2015 and have successfully repositioned and refurbished it into one of London’s most high-performing sustainable hotels. Having guided the hotel through its opening and stabilisation period, we are pleased to have found a new owner who will continue its story going forward.”
Rekha Toora, senior vice president, EMEA Hotels Capital Markets at JLL added: “This iconic hotel exemplifies the dynamic growth of London's hospitality sector, and we are thrilled to have played a pivotal role in this transaction. The sustainability credentials of the hotel in an area undergoing continued transformation, makes it an incredibly attractive investment opportunity."