Jones Lang LaSalle Hotels is pleased to announce the sale of the Kensington Hotel to The Lancaster Landmark Hotel Company, a wholly owned Thai company. This acquisition represents the company`s third London property, complementing the five red-star Landmark Hotel in Marylebone and four-star deluxe Royal Lancaster Hotel.
Situated in West Kensington, The Kensington is one of London`s newest hotels having opened in 1998. It has gained international recognition including four silver crowns accreditation from the London Tourist Board, and been nominated for a European Hotel Design award.
Building on this already strong reputation, The Lancaster Landmark Hotel Company will be investing substantial resources to further improve the hotel with enhancements to its contemporary interior design.
Nick Marsh, Executive Vice President at Jones Lang LaSalle Hotels stated that “The Kensington was a hotly contested asset, highlighting investors` appetite for good cash-flow generating investments in London”.
He adds that “the bidders recognised the potential of the hotel`s location which is in a major infrastructure and transportation development phase. Plans are in place for a new shopping complex, leisure and entertainment facilities, office space and a new tube station. This new development is another avenue of potential revenue enhancement for the hotel”.
The Managing Director of The Lancaster Landmark Hotel Company, Mr Jatuporn Sihanatkathakul, stated that “We have been looking for some time for a suitable third London property that met our main criteria - `a quality hotel in an area of unrealised potential`. Considering that West Kensington is currently undergoing an extensive regeneration programme and has a need for first-class business accommodation, we are delighted to realise this project. Our two other London properties are established at the top of their respective markets, and The Kensington will provide an exciting opportunity for us to further develop our presence in one of the world`s most dynamic cities”
The Kensington`s guest rooms are amongst the largest in the four-star London market and include a high proportion of suites - 183 out of a total 226 rooms. All rooms feature the latest technology such as broad band internet access, multi-channel cable television, voice mail, fax machines and two telephone lines. Additional room facilities include private bar, trouser press and personal safe. The Hotel`s extensive health club has a full-service spa together with two gymnasiums, whirlpool, sauna, steam room and aromatherapy room.