US-based investment firm Gencom has made its debut entry into the European luxury hotel market with the acquisition of the 308-key Rosewood London for an undisclosed sum.
The acquisition of the Grade II-listed UK hotel at 252 High Holborn is supported by a £225m (€269.6m) senior debt financing package provided jointly by HSBC and Santander.
Miami-based private investment firm White Bridge Capital said it co-invested in the transaction together with its international network of private investors and family offices.
The deal further strengthens White Bridge Capital’s strategic partnership with Gencom following their recent acquisition of the InterContinental Miami.
Rosewood London joins Gencom’s portfolio of luxury assets, operated alongside brands such as Four Seasons, The Ritz-Carlton and Fairmont.
Karim Alibhai, founder and principal of Gencom, said: “This acquisition reflects our strong conviction in the long-term strength, resilience and global appeal of the London hospitality market. It also represents an important milestone in our growing relationship with Rosewood, one of the world’s preeminent ultra-luxury hospitality brands.”
Chris Liddiard, senior director, real estate finance - hotels, HSBC UK, and Jose Minguela, senior director, hotels financing, Santander, said: “Gencom are an existing long-term client of Santander, and the acquisition of the renowned Rosewood London further strengthens their portfolio and reflects their strategy of investing in landmark properties in a key global gateway.
“As one of London’s most prestigious five-star hotels, and a long-term HSBC client, Rosewood London financing will support a focused capex plan to further enhance the asset.”
Alessandro Colantonio, Gencom’s CIO, said: “At Gencom, we are focused on acquiring exceptional hotels in leading gateway destinations and partnering with best-in-class brands and operators to unlock their full potential.
“Rosewood London aligns perfectly with that strategy, combining one of the world’s most sought-after luxury hospitality brands with a landmark property in a market where we maintain strong conviction in long-term growth and demand.”
Tommy Campbell, founder and CEO of White Bridge Capital, said: “This investment marks an important step for White Bridge Capital as we extend our platform beyond the Americas and continue to give our family office partners access to exceptional opportunities alongside leading sponsors.”
Regina Garcia Handal, co-founder and CIO of White Bridge Capital, said: “We see London as one of the world’s most attractive and enduring luxury hospitality markets, supported by a unique combination of international leisure demand, a strong corporate base, and year-round cultural and sporting events.
“Rosewood London’s exceptional location, between the West End and the City, positions the property, under Gencom’s leadership, to benefit from these demand drivers while giving our partners a long-term stake in a landmark asset in one of the world’s most established hotel markets.”
Radha Arora, president of Rosewood Hotel Group, said: “We are delighted to build on our relationship with Gencom, a partner who shares our commitment to distinctive places and exceptional hospitality.
“Together, we look forward to supporting the team as they continue to create the thoughtful, personal experiences that make Rosewood London so memorable.”
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