The Beaumont Hotel in London is believed to have been put on the market, with a price tag of between £110m and £120m.
Located in the heart of Mayfair, the five-AA-star, 73-bedroom hotel was opened by seasoned restaurateurs Jeremy King and Chris King as their first foray into hotel-keeping. The sale of a long lease is now set to be sold by the property group Grosvenor.
Corbin and King initially held the leasehold on the Beaumont, but in 2016 they relinquished it to Grosvenor after running into financial difficulties stemming from an over spend on the hotel’s opening costs. As a result the two parties agreed that Corbin and King would “manage and operate the Beaumont and Colony Grill (the hotel restaurant) on a management contract for Grosvenor, replacing the previous landlord and tenant arrangement”.
According to The Times, bids have already been put forward by offshore investors and the Barclay brothers, owners of the Ritz London and The Daily Telegraph. The sale is being handled by JLL.
More from NEWS
CHANEL launches fragrance ad campaign by Martin Scorsese featuring Timothée Chalamet
CHANEL's short film campaign for perfume, Bleu de Chanel, directed by Martin Scorsese and starring Timothée Chalamet has finally been launched at Cannes Film …
Richemont Group Q4 growth slows down
Slowing demand for luxury goods, especially in the Asia Pacific region, hindered Richemont’s growth in the fiscal fourth quarter and full …
Brunello Cucinelli opens new store in Venice (Italy)
In the city that symbolises Italian art and craftsmanship throughout the world, the new Brunello Cucinelli store in Venice was …