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Ascott acquires London’s Cavendish hotel
Serviced apartment provider The Ascott Ltd has purchased The Cavendish Hotel in London’s Mayfair for £158.8 million.
Located on Jermyn Street close to St James’s Square, and Green Park and Piccadilly tube stations, the hotel currently offers 230 rooms and suites, with facilities including five meeting rooms, a business centre, Petrichor restaurant and a lobby lounge.
Ascott says it will take over the management of the property from the fourth quarter of this year, with plans to convert it into a serviced residence under its Ascott The Residence brand, under the name Ascott St James London.
The property will join six Ascott properties in the capital - Ascott Mayfair, Citadines Prestige Trafalgar Square, Citadines Prestige Holborn-Covent Garden, Citadines Prestige South Kensington, Citadines Barbican and St Marks serviced residence.
Report by Mark Caswell