Grange Sells Four Hotels
Fattal to renovate, reposition the hotels
Queensgate Investments has completed its $1.3-billion acquisition of upscale hotels Grange St Paul's EC4, Grange Tower Bridge E1, Grange City EC3 and Grange Holborn WC1. The deal’s portfolio includes 1,345 guestrooms located in Central London with approximately 930,000 sq. ft. of real estate.
Seller Grange Hotels is a private company located in London. Following the transaction, the group will own and operate 13 hotels, mainly in Central London. Queensgate has an agreement with Fattal Hotel Group to operate the newly-acquired properties. Fattal will go to work renovating and repositioning the assets to join its London portfolio of seven hotels with 2,000 rooms. All told, Fattal has a portfolio of 200 hotels across 18 countries.
Photo, Grange St Paul's EC4: Courtesy of Grange Hotels