MORE ASCOTT APARTMENTS FOR LONDON
There were seven wonders in the ancient world and soon there will be seven Ascott properties in London. Singapore-based serviced residence operator Ascott has bought the Cavendish London on Jermyn Street, in Mayfair, from Sir David and Sir Frederick Barclay for £158.8 million. Ascott is to take over the four-star, 230-room property, which the Barclay brothers purchased for £100 million in 2006, at the end of the year,
and it plans to transform the hotel into the Ascott St James London serviced residences – the group’s seventh property in the UK capital. Ascott’s chief executive officer, Chong Kee Hiong, commented that the acquisition is in line with the group’s strategy to “seek investment opportunities in key growth cities in Asia and Europe.” “We see the potential to transform this property into one of the best luxury serviced residences in London,” he said. THE BELLS RING FOR KSL CAPITAL US-based resort owner and operator KSL Capital Partners has acquired its first property in Europe. KSL has purchased the Belfry, a hotel and golf resort near the town of Sutton Coldfield in England’s West Midlands region, from an affiliate of the Quinn Group for an undisclosed sum. The 550-acre resort was put on the market at the end of 2011 for £70 million. De Vere Group (which sold the property to the Quinn Group in 2005) has secured the management contract for the resort, which will remain open whilst KSL undertakes an extensive renovation of the 324-room hotel over the next few months. The resort was originally a manor house dating from the 12th Century, and its golf course is the only course in the world to have hosted the Ryder Cup four times. RENAISSANCE NUMBER FIVE FOR RUSSIA Marriott International has signed an agreement for a new hotel in Russia: the Voronezh Marriott Hotel, which is expected to open in 2015 as part of a mixed-use commercial, retail and residential development on Prospekt Revolyutsii in the city of Voronezh, in west Russia. The 220-room hotel will be managed by Ojsc Tsum-Voronezh. Marriott currently operates 14 hotels in Russia, but this will be its first property in Voronezh. Marriott also opened its ninth hotel in Turkey this week. The 212-room Renaissance Istanbul Bosphorus Hotel is on the European side of the city’s iconic Bosphorus River. The 20-storey hotel is the product of a franchise agreement with Polat Holding, signed in summer 2011, and it is the group’s fifth Renaissance hotel in the country.
Source
and it plans to transform the hotel into the Ascott St James London serviced residences – the group’s seventh property in the UK capital. Ascott’s chief executive officer, Chong Kee Hiong, commented that the acquisition is in line with the group’s strategy to “seek investment opportunities in key growth cities in Asia and Europe.” “We see the potential to transform this property into one of the best luxury serviced residences in London,” he said. THE BELLS RING FOR KSL CAPITAL US-based resort owner and operator KSL Capital Partners has acquired its first property in Europe. KSL has purchased the Belfry, a hotel and golf resort near the town of Sutton Coldfield in England’s West Midlands region, from an affiliate of the Quinn Group for an undisclosed sum. The 550-acre resort was put on the market at the end of 2011 for £70 million. De Vere Group (which sold the property to the Quinn Group in 2005) has secured the management contract for the resort, which will remain open whilst KSL undertakes an extensive renovation of the 324-room hotel over the next few months. The resort was originally a manor house dating from the 12th Century, and its golf course is the only course in the world to have hosted the Ryder Cup four times. RENAISSANCE NUMBER FIVE FOR RUSSIA Marriott International has signed an agreement for a new hotel in Russia: the Voronezh Marriott Hotel, which is expected to open in 2015 as part of a mixed-use commercial, retail and residential development on Prospekt Revolyutsii in the city of Voronezh, in west Russia. The 220-room hotel will be managed by Ojsc Tsum-Voronezh. Marriott currently operates 14 hotels in Russia, but this will be its first property in Voronezh. Marriott also opened its ninth hotel in Turkey this week. The 212-room Renaissance Istanbul Bosphorus Hotel is on the European side of the city’s iconic Bosphorus River. The 20-storey hotel is the product of a franchise agreement with Polat Holding, signed in summer 2011, and it is the group’s fifth Renaissance hotel in the country.
Source