UK-based Crimson Hotels has acquired the Hesperia London Victoria hotel from Spanish hotel operator Hesperia, advised by CBRE Hotels. The financial details were kept confidential, but CBRE said that the sale was in line with current market values. London Victoria was Hesperia's only UK asset.
UK-based Crimson Hotels has acquired the Hesperia London Victoria hotel from Spanish hotel operator Hesperia, advised by CBRE Hotels. The financial details were kept confidential, but CBRE said that the sale was in line with current market values. London Victoria was Hesperia's only UK asset.
The scheme has been sold vacant, with the buyer planning to carry out an extensive refurbishment of the asset which in the future will be operated by Hilton under its Double Tree brand. The hotel offers 212 rooms as well as three conference rooms with a capacity for up to 300 people. It is located near Victoria's train station.
'This transaction shows how active the hotel market is in London due to its stability and strength,' Jorge Ruiz, a director at CBRE Hotels, told PropertyEU. 'We had a lot of interest from a number of parties, confirming the liquidity of the market and strong investor appetite for hotel assets.'
