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Mayfair Hotel to be Turned Into International Club

LONDON-Marriott Grand Residence Club is to turn 47 Park Street in London's Mayfair into a timeshare for both visitors and investors. It is selling off the rooms at prices from 85,000-pounds ($122,200) a month.

By Charlie Jacoby | Updated on April 25, 2002

LONDON-Marriott Grand Residence Club has taken on the management of 47 Park Street Hotel, London W1. MGRC plans to offer it on a club or “fractional property ownership” basis. .

The 49-residence property will continue to operate as a luxury hotel. It will also provide convenient second home ownership as an alternative to conventional whole ownership with the full flexibility, services and amenities of a fine hotel.

The building is to be refurbished to 33 one-bedroom and 16 two-bedroom residences ranging in size from 710 to 1,108 sf. Ownership prices range from £85,000 ($122,200) to £202,800 ($291,500) per 28-day fractional interest, based on residence type and season.

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