Slough, Berkshire-based Crimson Hotels, a private owner and operator of 10 hotels, has bought the 131-room Trafalgar Square St. James London, Curio Collection by Hilton from London + Regional Hotels.
In a news release on the sale from business advisory JLL, the price tag is undisclosed, but CoStar reports the sale price is 130 million pounds sterling ($153 million), or 992,366 pounds sterling ($1.17 million) per key.
The sale comes one day after Whitbread PLC acquired a site at 5 The Strand, approximately a two minute walk away on the other side of Trafalgar Square, for approximately 200 million pounds sterling ($236 million), which includes construction prices. That site is due in 2027 to house a Hub by Premier Inn hotel.
In a news release, Neil Kirk, COO of L+R, said “the [hotel] has performed magnificently over the last year despite all the legacy challenges from the pandemic. We are sorry to see the hotel leave L+R … but we received a compelling proposal from a buyer who performed as they said they would, and who will have the opportunity to take the performance to the next level.”
Other hotels in the Crimson portfolio include seven in the United Kingdom, one in Portugal and one in the United Arab Emirates.
Brand flags flying over its doors include Accor, Hilton and IHG Hotels & Resorts.