MARRIOTT GROSVENOR SQUARE SOLD FOR £125 MILLION

A Hong Kong-based private equity firm, Joint Treasure, has acquired the leasehold of the Marriott Hotel Grosvenor Square in London from Strategic Hotels & Resorts for £125.1 million (£530,000 per room). The 237-room hotel, in the city’s exclusive Mayfair district, has been sold with a long-term management agreement with Marriott International in place and remains subject to a ground lease with 43 years remaining on the term. The deal marks Strategic’s departure from the European hotel market.

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