Spanish firm Riu Hotels & Resorts has acquired The Westminster, Curio Collection by Hilton for £290m, marking London’s biggest single-asset transaction since 2021.
The 464-room hotel has now been rebranded as Hotel Riu Plaza London The Westminster, with Riu terminating its partnership with Hilton and taking on full operational control of the property.
Riu acquired the property from its previous ownership, a consortium including Westmont, BHP & PPF. The consortium acquired the property in 2018 for £187.5m and it underwent a major refurbishment in 2021, at which point it joined Hilton’s Curio Collection.
“Riu’s acquisition demonstrates how premier operators recognize the value proposition of London’s hotel market, particularly for assets with The Westminster’s caliber and prime positioning,” said William Duffey, senior managing director and head of hotels and hospitality, capital markets, Europe, Middle East and Africa, at JLL, which helped broker the deal.
The opening marks Riu’s second hotel in London, following the launch of Riu Plaza London Victoria in 2023.
The Hotel Riu Plaza London The Westminster becomes the 13th property in Riu’s urban portfolio, joining operational sites in Panama, Guadalajara (Mexico), Madrid, Miami, Chicago, San Francisco, New York, Berlin, London, Dublin and Toronto.
News Source: https://www.boutiquehotelier.com/the-westminster-hotel-london-rebranding/
