Global private investment firm Starwood Capital Group has confirmed the acquisition of a portfolio of 10 hotels from Edwardian Group in a discreet off-market transaction.
The deal, for an undisclosed sum, includes a diverse range of hotels in central London and marks a significant expansion for Starwood Capital in one of the world’s premier hotel markets.
The portfolio comprises a total of 10 hotels with a combined room count of 2,053.
While financial details of the transaction remain confidential, the move aligns with Starwood Capital’s strategic focus on real estate investments, particularly in the European hotel sector.
The acquisition solidifies the company’s presence in the competitive London market.
Edwardian Group retains key properties
Despite parting ways with the majority of its hotel portfolio, Edwardian Group will continue to own and operate three key establishments: The Londoner, The May Fair, and The Edwardian Manchester.
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By GlobalDataThe decision to keep these properties aligns with the group’s commitment to investing in and delivering distinctive experiences for guests in high-end city-centre hotels.
Starwood Capital and Edwardian Group expressed their intention to collaborate on future opportunities.
Strategic collaboration and future plans
To ensure a smooth transition, Edwardian Group will continue to operate the recently acquired portfolio for a transitional period, allowing Starwood Capital time to strategise and plan its future investments in the hotels.
The collaboration is expected to foster a constructive relationship between the two entities.
The acquisition adds 10 hotels to Starwood Capital’s existing European hotel investments, bringing the total to 47 with 10,000 rooms across the continent.
JLL provided real estate advisory services and Baker McKenzie served as legal counsel for Edwardian Group during the sale. Paul Hastings (Europe) LLP acted for Starwood Capital.