Queensgate Investments has completed the acquisition of four hotels to the Grange Hotels chain in London for an amount of 1,000 million pounds sterling (1,173 million euros), totaling 1,135 rooms.
These are the luxury establishments ‘Grange St Paul’s EC4’, ‘Grange Tower Bridge E1’, ‘Grange City EC3’, and ‘Grange Holborn WC1’, located in central London, which have space for meetings and conferences as well as such as spa and leisure facilities, according to the fund announced in a statement.
Grange Hotels is one of the largest private hotel groups in London that, after the transaction, will own and operate 13 hotels, mainly in London.
Queensgate has an agreement with Fattal Hotel Group, a hosting company valued at 2,000 million euros with 200 hotels in 18 countries, to operate the assets. Fattal Group will implement the renewal of all assets, which will be followed by the strategy of repositioning said assets to boost their performance. This will add seven hotels and 2,000 rooms in London.