BBVA puts EUR 122m London hotel on the market

The flagship Marconi building in London has reportedly received as many as 140 expressions of interest after its administrator PricewaterhouseCoopers (PWC) put it on the market last month with a price tag of EUR 122 mln.

Developed by the development arm of Spanish hotel chain Urvasco, the five-star hotel project was due to be operated under the Silken brand, part of the Urvasco group. The Spanish building company was put into administration in the summer by its main creditor bank, Spanish lender BBVA, which in July appointed PWC as administrator for the property.

Designed by Norman Foster, the development will offer 173 rooms and 79 apartments in the centre of London. Urvasco owns a total of 33 Silken hotels in Spain.