The acquisition will see Zurich-based GMH take over Signature Hotels’ four existing properties in London – Signature Townhouse Hyde Park, Park Avenue Baker Street, Park Avenue Bayswater Inn Hyde Park and Queens Park Premier London Hyde Park – along with two additional hotels currently under development in India and expected to open within the next 12 months.
Signature Hotels’ operational and management teams will be integrated into GMH’s existing structure, while Signature Hotels CEO Ramesh Arora will join the supervisory board of GMH.
The Signature Hotels brand will be maintained as part of GMH’s portfolio, which also includes independent brands such as Grand Metropolitan Hotels Collection, Castlewood Hotels and Resorts, Swiss Hospitality Collection, African Heritage Hotel Collection and Martinez Hotels.
The acquisition also marks GMH’s entry into the UK and India, and the group plans to further develop Signature Hotels as a ‘boutique lifestyle’ brand.
“London remains one of the most competitive hospitality markets in the world, and Signature’s operational strength there, coupled with its ties to India, provides GMH with an immediate and meaningful platform for growth,” said GMH founder and chairman Martin R. Smura.
Signature Hotels’ Arora added: “By joining GMH, we strengthen our ability to grow internationally while staying true to our purpose of delivering authentic, locally inspired experiences.”
By Lauren Arena
