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Strategic Hotel Capital Sells St. Ermin Hotel

LONDON-Chicago-based firm sells the 290-room property it acquired in 1998. The hotel is in the Westminster district of central London, and includes two restaurants and 14,000 sf of meeting and banquet space.

By Bonnie Grota | Updated on April 11, 2001

LONDON-Strategic Hotel Capital, a global hotel investment company based in Chicago, announced that its U.K. affiliate reached an agreement to sell the first class London St. Ermin’s Hotel. The firm anticipates closing the transaction in late January 2001. Strategic purchased the 290-room hotel in 1998.

According to Laurence Geller, CEO, Strategic Hotel Capital, “The sale is in line with our stated goals of selling assets that we feel are not in keeping with our long-term strategic objectives.” The firm will continue to focus on luxury properties in major European, Asian and U.S. cities.

Robert Seabrook, senior vice president, Jones Lang LaSalle hotels, acted on behalf of Strategic Hotel Capital in the sale. The sale “represents the largest transaction in the London market this year,” according to SeabrookÕs statistics.

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