The largest hotel in London’s prestigious Mayfair, the JW Marriott Grosvenor House Hotel, is up for sale.
The luxury, five-star hotel went on the market this week and is expected to attract interest from the world’s wealthiest investors, who are increasingly seeking out ‘trophy’ hotel assets for their property portfolios.
“We expect the asset to appeal to a broad range of local and global investors,” said Mark Wynne-Smith, Global CEO of JLL Hotels & Hospitality Group, which has been appointed to market the hotel on behalf of the property’s Administrators and the LPA Receivers. “The hotel is set apart from its Park Lane hotel peers due to its extensive banqueting facilities and the impressive ballroom, which is undoubtedly a unique selling point and will appeal to certain investors.”
Overlooking Hyde Park, the hotel boasts the largest five-star ballroom in Europe as well as 420 rooms, 74 suites and 27 meeting rooms over a total of 56,700 square metres. It is home to some of the most famous bars and restaurants in London including Corrigan’s Mayfair, the Park Room & Library, Bourbon Bar and Park Lane Market.
Wynne-Smith added: “The last hotel transaction on Park Lane took place two years ago and as the market has strengthened since then we are looking forward to engaging with investors in an open marketing process.”
The Grosvenor underwent a £135 million refurbishment between 2005 and 2008 and it became the largest hotel transaction in London on record when it sold in 2010.
The hotel became the first in Britain to introduce en-suite bathrooms and running iced water in each bedroom when opened in 1929. It was built on the site of Grosvenor House, the former London residence of the Dukes of Westminster, whose family name is Grosvenor.