NH Hoteles enters the London market with the Harrington Hall Hotel, which has been acquired together with the real estate company Losan…
NH Hoteles enters the London market with the Harrington Hall Hotel, which has been acquired together with the real estate company Losan. This transaction has involved an investment of 72 million euros, 75% being provided by Losan and NH participating with 25%.
The Harrington Hall is a four-star-superior urban hotel located in the South Kensington area (Chelsea), one of the most exclusive areas of London, next to Hyde Park, Kensington Palace, Kensington Gardens, the Science Museum, the Natural History Museum and the Royal Albert Hall.
The hotel has 200 rooms and suites, a restaurant for 250 people, a bar in the lounge, a gym and 10 meeting and conference rooms, which occupy a total area of 1,200 square meters and can hold up to 700 people. The property is situated in a historical group of 12 inter-linked buildings and was totally rebuilt in 1997.
Losan has reached an agreement with NH Hoteles (www.nh-hotels.com) whereby the latter participates in the acquisition and management of the Harrington Hall Hotel. This is the first hotel the company owns in the United Kingdom which means that NH Hoteles will now be present in 19 countries.
With this new acquisition, NH Hoteles continues its expansion plan in Europe having recently entered Hungary, Romania and Italy.
Christie & Co, International Hospitality Consultants, through their offices in London and Barcelona, acted as intermediaries on the acquisition operation of the Harrington Hall hotel in London.
With the closing of this transaction, Losan consolidates its development strategy in Europe, where the company already has hotels in different countries within the European Union. The real estate investment group centres its activity in the acquisition of hotels in the centre of the main cities and then hands their management over to important hotel chains. The company is formed by Caja de Burgos and the businessman, Mr. Cesar Losada Santamaria.
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