Swedish pharmaceutical entrepreneur Lennart Perlhagen is acquiring a stake in London-based Firmdale Holdings, the owner-operator of Firmdale Hotels.
Firmdale, which has 11 hotels in London and New York City, completed the deal on Feb. 20 to send Perlhagen 359,455 shares from a total of approximately 2 million shares, according to business filings at Companies House. The Standard reported the transaction is valued at approximately £300 million ($380 million) and estimates Firmdale Holdings’ total value at approximately £1.5 billion.
Firmdale was founded in 1985 by husband-wife team Tim Kemp and Kit Kemp.
Perlhagen’s son, Richard Perlhagen, principal of investment fund Storford Family Office, has been on Firmdale’s board of directors since March 2021.
In its last set of earnings results, for the fiscal year ending Jan. 31, 2024, and published on July 31, Firmdale Holdings reported £198 million of revenue and £17.8 million of operating profit.
Firmdale Hotels’ portfolio consists of eight hotels in London and three in New York City.
The London Firmdale hotels are the 52-room Charlotte Street Hotel, 58-room Covent Garden Hotel, 38-room Dorset Square Hotel, 98-room Ham Yard Hotel, 53-room Haymarket Hotel, 44-room Knightsbridge Hotel, 41-room Number Sixteen Hotel and 96-room The Soho Hotel.
In New York City, the company has the 86-room Crosby Street Hotel, 69-room Warren Street Hotel, which opened in February 2024, and 86-room The Whitby Hotel.
Firmdale's townhouse-style hotels are noted for their interior design.