The announcement further builds on Katara Hospitality’s vision for “iconic properties” in strategic markets to commit significant investment over the long term. The group recenlty bought of one of New York’s iconic Plaza Hotel for around $600m (£458m).
The acquisition brings Katara Hospitality’s portfolio of properties in operation or under development to 40 and marks the company’s third acquisition in London after The Savoy, A Fairmont Managed Hotel and the Adria Boutique Hotel.
Opened in 1929 and operated by Marriott International under the JW Marriott brand, the hotel is a five-star hotel that offers 496 luxurious guest rooms, extensive facilities including five-star amenities, a fitness centre and 31 meeting rooms.
Katara Hospitality said its vision is to build a portfolio of “leading hotels in key destinations around the world” and Grosvenor House is the “ideal opportunity to expand the company’s footprint into the vibrant and exciting London market”.