…as CDL moves in to buy hotel
THE seemingly bottomless coffers of CDL Hotels International are about to be raided again.
Caterer has learnt the Singapore-based company is in final negotiations to add the 162-bedroom Bailey's Hotel to its burgeoning London portfolio.
The four-star-standard Victorian property is currently operated by Securum Hotels Holdings, a company set up 18 months ago to manage - and ultimately sell off - the properties of a failed Swedish bank.
Securum managing director Kai Ringenson, who is based in London, confirmed to Caterer that he was in "serious discussions" with CDL over the freehold property but declined to elaborate.
The acquisition of Bailey's would take CDL's number of bedrooms in the capital to 935 following the acquisition of the Gloucester and Chelsea hotels last year for a total of £92m.
The property, which forms part of the same Kensington block as the 548-bedroom Gloucester, also has planning permission for another 113 bedrooms. It is not yet known how CDL would run the two hotels given their proximity.
