The hotel is a 236-room newly repositioned upscale hotel overlooking Grosvenor Square in the upmarket Mayfair area of central London. The hotel is adjacent to the American Embassy and a short walk from Hyde Park. The previous owners recently completed a euro 18.8-million ($23.9-million) repositioning of the lodging asset involving the renovation of guestrooms and lobby areas, expansion of meeting space and the creation of Maze restaurant, leased to celebrity chef Gordon Ramsay. The hotel also comprises 10,000 sf of high-tech meeting space and two premium food and beverage outlets.

In a separate deal, Strategic is also buying a 65% interest in the vehicle that owns the InterContinental Hotel in Prague, Czech Republic, for euro 53.8 million ($68.9 million). When the assumption of euro 44.2 million ($56.5 million) in debt is taken into account, the company's total investment to acquire the interest is euro 97.9 million ($125.4 million). The deal gives Strategic full ownership of the vehicle that owns the property.

The luxury hotel comprises 372 rooms and is located in the historic Old Town of Prague. It also comprises more than 10,000 sf of meeting space, four food-and-beverage outlets and a 27-suite extended stay facility adjacent to the property.