Singaporean hotel group City Developments Limited has acquired a major London hotel
International news
Singaporean hotel investor City Developments Limited has acquired a major London hotel asset, in a GBP280 million deal. CEO Kwek Long Beng described his purchase of the Holiday Inn Kensington High Street as a once in a lifetime opportunity.
The hotel has 706 rooms, and is located in a key west London area, close to many tourist destinations. It is also close to one of CDL’s existing assets, the 833 room Copthorne Tara Hotel London Kensington, promising operational efficiencies. The addition builds on what is already a significant UK portfolio owned and managed by CDL.
CDL is already a major hotel owner in west London. Among its holdings are the Millennium Gloucester Hotel London, which has 611 rooms, the Biltmore Mayfair, Bailey’s Hotel London Kensington with 212 rooms, and the 158 room Chelsea Harbour hotel. The group also owns the Millennium Hotel London Knightsbridge, which is closed for refurbishment and due to relaunch into the market in 2026.
by Chris Bown