US investment group Gencom has acquired the 308-key Rosewood London, securing its first luxury hotel asset in the UK city.
Although the deal’s financial terms were not disclosed, Gencom said HSBC and Santander financed the transaction.
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HSBC UK Real Estate Finance – Hotels senior director Chris Liddiard and Santander Hotels Financing senior director Jose Minguela said: “HSBC and Santander are delighted to have worked with Gencom, to provide a £225m ($302m) senior debt financing package to support the acquisition and development of Rosewood London.
“Gencom are an existing long-term client of Santander, and the acquisition of the renowned Rosewood London further strengthens their portfolio and reflects their strategy of investing in landmark properties in a key global gateway.
“As one of London’s most prestigious five-star hotels, and a long-term HSBC client, Rosewood London financing will support a focused CapEx plan to further enhance the asset.”
Gencom said that the hotel previously underwent an extensive refurbishment programme between 2011 and 2014, overseen by Tony Chi Studios.
Its food and beverage facilities include the flagship restaurant Holborn Dining Room, which operates as a British brasserie, and the Mirror Room, an all-day dining venue offering artist-themed afternoon tea.
The site also houses Scarfes Bar, which runs live jazz sessions alongside cocktail service, and The Gin Bar, which stocks more than 300 varieties.
Gencom founder and principal Karim Alibhai said: “Rosewood London has earned its place among the world’s premier luxury hotels, distinguished by its iconic setting in one of the most important global gateway cities and by an exceptional guest experience that continues to resonate with the most discerning travellers.
“This acquisition reflects our strong conviction in the long-term strength, resilience and global appeal of the London hospitality market.
“It also represents an important milestone in our growing relationship with Rosewood, one of the world’s preeminent ultra-luxury hospitality brands.”
