Japanese hospitality firm Prince Hotels, and its subsidiary StayWell Holdings, have acquired The Arch Hotel in London.
The two groups said the property will be rebranded in 2019 as a five-star international hotel brand called the The Prince Akatoki, and added that it will “complement” the wider portfolio of brands managed by StayWell Holdings.
According to the groups the new brand reflects visual elements synonymous with Japan, and “signature experiences” that are unique to Japanese hospitality, and will also showcase the meeting of English heritage and global connectivity with the “sophistication and hospitality of Japanese culture”.
Masahiko Koyama, president of prince Hotels, said: “We are honoured to announce that our first overseas luxury brand, The Prince Akatoki will be opening in the world’s leading city, London.
“We are very thankful for being able to come across The Arch London, a well-known hotel loved by guests. Together with StayWell, we will strive to deliver the Japanese culture and hospitality through The Prince Akatoki brand to the world. Through this, we will endeavour to transform Prince Hotels from a Japanese chain into a global chain.”
Simon Wan, president and director of StayWell Holdings, added: “The demand for luxury hotel accommodation in London, particularly Marylebone and Marble Arch area, remains unparalleled, making the opportunity to acquire The Arch Hotel one that the Group had to seize.
“Demand in the London hotel market is strong and resilient, however with a shortage of supply, and existing properties being tightly held, it is increasingly difficult for new brands to penetrate the market.”