Radisson Edwardian Hotels today announced it has reached agreement for the purchase of the prestigious five-star InterContinental May Fair London Hotel for $181.5 million (115 million pounds sterling). This brings the group`s total number of four and five-star hotels in London to 11.
The five-star Radisson Edwardian May Fair Hotel is located on Stratton Street in the heart of Mayfair. The transaction is expected to be finalized on September 11.
Jasminder Singh, Chairman and Chief Executive Officer of Radisson Edwardian Hotels, said, “We have sought the addition of a hotel in Mayfair to complement our group`s extensive coverage of London for some time, and I can think of no better freehold property than the famous London May Fair Hotel to achieve this goal. Once refurbished, it will become one of the finest hotels in the capital, and will further strengthen our group`s position in the luxury market segment, as well as demonstrating my belief in the long-term vitality of the London hotel market.”
The acquisition of this 289-room hotel will increase Radisson Edwardian`s London room count to 2300. Since its historic opening in 1927 by His Majesty King George V, the May Fair Hotel has enjoyed a loyal following by the fashionable and famous. Facilities today include a penthouse suite with private lift, two restaurants, 290-seat theater auditorium, ballroom and fitness club complete with swimming pool.
Planning consent has already been obtained to extend and refurbish the May Fair, involving construction of a new six-floor wing of rooms and an 8th floor extension, adding 80 rooms, as well as upgrading and expanding conference and meetings facilities.
“The May Fair Hotel is a significant addition of a landmark hotel in a key city center gateway market that exemplifies our global growth strategy,” said Jay S. Witzel, President and Chief Executive Officer of Carlson Hotels Worldwide, parent of Radisson Hotels and Resorts. “The acquisition of this hotel will expand Radisson`s presence in the vital London market, and the hotel will further enhance the Radisson brand with global travelers.”
Rate information for the Radisson Edwardian May Fair Hotel will be disclosed following conclusion of the sale. For more information and reservations, call 1-800-333-3333 or log onto http://www.radisson.com/.