Blackstone sells Marriott Grosvenor Square

02 August 2006
Blackstone sells Marriott Grosvenor Square

Private equity group Blackstone Real Estate Partners has sold the Marriott London Grosvenor Square hotel for £103m to Chicago-based Strategic Hotels & Resorts.

The Mayfair property has 236-bedrooms and has recently completed a £12.8m refurbishment.

It is also home to Michelin-starred Maze Restaurant, run by chef-patron Jason Atherton as part of the Gordon Ramsay stable.

The deal is expected to complete by September.

Strategic has also entered into an agreement to buy the 65% interest in the InterContinental Hotel in Prague for $68.8m (£36.7m) held by EU-Hotel, an affiliate of GIC Real Estate.

This will give it sole ownership of the luxury property in the city's old town area.

Blackstone to buy seven European Center Parcs sites >>

Center Parcs refused fifth site >>

Blackstone buys Center Parcs' UK property >>

Blackstone wins bidding war for Hospitality Europe >>

Maze - Return of the native >>

A minute on the clock: Jason Atherton >>

By Chris Druce

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