A Qatari state-backed company is to buy the Grosvenor House hotel on London’s Park Lane, the latest in a string of acquisitions of the capital’s trophy assets.
Katara Holdings, which is owned by the Qatar Investment Authority (QIA), has bought Grosvenor House for an undisclosed price from private American property investment firm Ashkenazy Acquisition Corporation.
Ashkenazy bought the Mayfair property, which overlooks Hyde Park, in 2017. The firm had previously owned a stake in New York’s Plaza, for which Qatar paid a reported $600m earlier this year.
Ben Godon and Joseph Kassouf of Colliers International’s hospitality asset management team, which advised Ashkenazy on the deal, said: “This transaction demonstrates a growing appetite from Middle Eastern investors for core hotel real estate in London due to high liquidity, a dynamic market and a comprehensive understanding of our local tax and legal systems.”
Colliers International has been retained to asset manage the hotel on behalf of its new owners.
