Business · Companies · 3 hrs ago
Nortia and Gencom buy London’s Rosewood hotel for more than £300 million
Nortia and US investment firm Gencom have bought the Rosewood London, with other investors also involved.
The hotel is in Midtown London, between Covent Garden and the City.
The deal was completed for more than £300 million, according to market sources.
The Rosewood has 308 rooms in a historic building dating to 1912; it reopened in 2013 after an £85 million renovation.
The purchase follows Nortia and Gencom’s investments in the InterContinental in Miami and the Ritz-Carlton Central Park in New York, bringing the three hotels’ combined valuation to about €1 billion.
Nortia plans to focus on landmark five-star hotels in major international cities as part of its long-term investment strategy.
Nortia and Gencom have bought London’s Rosewood hotel for more than £300 million, according to market sources cited by Expansión.
Other investors also took part in the acquisition.
The 308-room hotel is in Midtown, between Covent Garden and the City of London.
The deal expands the partnership between Nortia, the investment vehicle of Manuel Lao, and US investment firm Gencom.
Lao said the hotel fits Nortia’s long-term investment strategy focused on asset quality and value creation.
- Who
- Nortia, the investment vehicle of Manuel Lao, and US investment firm Gencom bought the hotel, alongside other investors.
- What
- They acquired the Rosewood London for more than £300 million.
- When
- Not stated.
- Where
- The Rosewood London is in Midtown, between Covent Garden and the City of London.
- Why
- Nortia said the hotel’s location, positioning and international importance fit its long-term strategy.
This story does not have two clearly opposing sides.
The historic building that now houses the hotel was built.
Rosewood London opened after a renovation costing £85 million.
Expansión reported that Nortia, Gencom and other investors had acquired the hotel.
- Purchase price
- More than £300 million
- Hotel rooms
- 308
- Location
- Midtown, between Covent Garden and the City of London
- Building
- Built in 1912
- Renovation
- £85 million; the hotel opened in 2013
What people are saying
Rosewood London has exceptional characteristics in terms of its location, positioning and importance within the international hotel sector, and fully fits our long-term investment strategy based on asset quality and value creation.