Park Inn Hyde Park London sells for 'in excesss' of £35m

8th July 2010, 9:48am

Acting on behalf of Gresham Hotel Group, agents Christie + Co has sold the Park Inn Hyde Park, London, for an undisclosed sum, with offers in excess of £35 million sought.

Located at 66-71 Lancaster Gate, W2, opposite Hyde Park, this 188-bedroom hotel has long been established as one of the highest profile hotels in this increasingly fashionable part of central London.

This freehold property has benefited from London's ongoing strong trading performance which is due to continue as the capital prepares for the 2012 Olympic Games.

Jeremy Jones, director at Christie + Co, said: "Following on from the sale of the Park Inn London, Russell Square this sale is further evidence that there is huge demand for true central London hotels from well-funded buyers. Interest for this hotel came from a variety of investors and operators. The upshot of this deal is that we have a variety of well funded bidders who are keen to secure substantial central London hotels."

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