Chicago-based private real estate investor Walton Street Capital has purchased a 50% interest in the joint venture that owns the Morgan Hotel group's two London hotels - Sanderson and St Martin's Lane. The stake was purchased from MHG's previous partner, Burford Hotels, for $52 mln (EUR 40 mln).
Chicago-based private real estate investor Walton Street Capital has purchased a 50% interest in the joint venture that owns the Morgan Hotel group's two London hotels - Sanderson and St Martin's Lane. The stake was purchased from MHG's previous partner, Burford Hotels, for $52 mln (EUR 40 mln).
MHG introduced the 'boutique hotel' concept with the opening of its first property, Morgans on Madison Avenue in New York in 1984. The group owns or partially owns and manages a portfolio of nine luxury hotel properties in New York, Miami, Los Angeles, San Francisco and London, comprising over 2,500 rooms.
