CDL acquires Holiday Inn London Kensington High Street for £280m

City Developments Limited (CDL), through its wholly owned subsidiary Copthorne Hotel Holdings Limited, has acquired the Holiday Inn London Kensington High Street for £280m. The purchase price equates to £396,600 per room.

CDL said the 706-room freehold hotel continues to perform strongly, reporting occupancy of more than 97% in the nine months to September 2025. 

Revenue in the 12 months prior to the acquisition exceeded £39m, and the asset is expected to deliver a running yield of more than 6%.

Executive chairman Kwek Leng Beng said the availability of a freehold site of this scale in the area was “uncommon”. 

The acquisition gives the group ownership of two large freehold sites in the Royal Borough of Kensington and Chelsea, alongside the Copthorne Tara Hotel.

The deal increases CDL’s Central London portfolio to more than 3,000 rooms. Its existing holdings include The Biltmore Mayfair, Millennium Hotel London Knightsbridge, Millennium Gloucester Hotel London, The Bailey’s Hotel London Kensington, The Chelsea Harbour Hotel and Spa and the Copthorne Tara Hotel London Kensington. 

Renovation work at the Millennium Hotel London Knightsbridge is due to begin shortly, with completion expected in 2026.

According to CDL, the acquisition aligns with its strategy of deploying capital into selective opportunities that offer long-term value. 

The group has secured around SGD1.9bn (£1.10bn) in contracted divestments so far this year, with investment in four assets totalling about SGD1.7bn (£980m) in 2025, including three government land sites in Singapore and the purchase of the Kensington High Street hotel.