The St James's Hotel and Club](http://www.stjamesclubandhotel.co.uk/) has been bought by overseas family investors for an estimated £60m.
The five-star 60-bedroom property in London's St James's was sold for an undisclosed sum believed to be in the region of £1m per bedroom.
Despite the challenging economic conditions of recent years, the luxury hotel market in London has remained buoyant in comparison with other major European cities, which has attracted strong overseas buyer interest in the sector.
Henrik Muehle, managing director of the St James's Hotel and Club, said: "I am very excited that the St James's Hotel and Club has been acquired by a family who appreciate the potential of this beautifully redesigned five-star hotel and in particular the emphasis on our fine-dining restaurant, Seven Park Place, under the direction of William Drabble, executive chef."
The hotel and club re-opened in August 2008 following an 18-month refurbishment. It is a member of the Small Luxury Hotels of the World and is managed by the pan-European hotel operator the Althoff Hotel Collection.
"The new owners have a good understanding of the luxury hotel market and an appreciation of the importance of great food and good service in our industry," added Muehle.
"This will help the St James's Hotel and Club to grow in profile as one of the best and most exclusive luxury hotels in London and complement William as he works towards a Michelin star for our fine-dining restaurant."
By Janie Stamford
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