Search
 

Mayfair Marriott on the Market

LONDON-Against a backdrop of a slide in hotel occupancy throughout the UK, the prestigious Marriott Hotel in London's Grosvenor Square, has been put up for sale by its Japanese owners.

By Steve Killick | Updated on August 27, 2001

LONDON-The Marriott Hotel in Grosvenor Square, located next to the US Embassy, has been placed on the market by its Japanese owners, Adachi, with an asking price of £100 million.

The Marriott Grosvenor Square, in fashionable Mayfair, is one of the capital’s most prominent hotels, boasting 221 rooms, which are available for anything up to £950 per night. It is only the latest luxury hotel to come onto the market against a backdrop of fewer visitors to Britain from the US as the American economy continues its downward spiral. Adachi, the Japanese property group, owns the building with Marriott International controlling the management contract. Adachi is believed to have appointed Sanwa bank to advise on the sale.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.