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The Fattal Group – owner of Leonardo Hotels UK and Ireland – has acquired the historic Dilly Hotel in London for an undisclosed sum.
The group said it plans to invest £90m into the Dilly to create a leading luxury hotel. Opened in 1908, the Dilly Hotel is centrally located between Piccadilly and Regent Street in the heart of London and features over 280 rooms, indoor swimming pool, fitness and treatment rooms, and squash courts – as well as seven meeting rooms and event spaces.
With the deal, Leonardo Hotels UK and Ireland said it will “accelerate its momentum as one of the fastest growing hotel groups in Europe and strengthen its position as one of the UK and Ireland’s leading hotel brands”.
The acquisition is part of a recently announced €400m (£345m) fund, which Fattal raised in partnership with a number of institutional investors. Bank Hapoalim supported the transaction.
Fattal Hotels owns and operates over 200 hotels in over 100 destinations, with plans to “rapidly” expand its global presence.
The transaction was assisted by advisors Baker Mckenzie, Colliers, Eastdil, KPMG and Arcadis.
Jason Carruthers, MD of Leonardo Hotels UK and Ireland, said: “We’re very pleased to be adding another high performing hotel and yet another iconic hotel brand with a long rich history to the Leonardo portfolio.
“It’s a great hotel, with an experienced management team and dedicated employees, and fits very well into our broader portfolio and our strategy to position Leonardo Hotels as one of Europe’s most significant owner and manager of well invested, and strategically positioned hotels.”
In total, so far, Leonardo Hotels UK and Ireland has seen over 2,530 bedrooms refurbished across the group and has had more than 1,450 rooms added through new developments and acquisitions – including Leonardo hotels in Manchester, Bristol Glassfields, Chester, and new NYX Hotels opening in Dublin and Edinburgh.
The development pipeline is being supported by the rebranding of the Jurys Inn portfolio to Leonardo Hotels, creating one global brand.
The Dilly will join the group’s collection of hotels in Central London, which include Leonardo Royal Hotels at London City, Tower Bridge, and St Paul’s, and the NYX Hotel London Holborn.
