- Gencom acquired Rosewood London.
- HSBC, Santander provide $302.77M in debt.
- HVS Hodges Ward Elliott represented the seller.
The deal is Gencom’s second Rosewood asset, after it acquired Rosewood Bermuda in 2017. HSBC and Santander financed the deal with $302.77 million in debt, while HVS Hodges Ward Elliott represented the seller. Gencom is a long-term Santander client, while Rosewood London is held by a long-term HSBC client.
The hotel occupies a 1912 building near Covent Garden, the Royal Opera House, the British Museum and Somerset House. It features dining venues, bars and event spaces. It underwent a renovation led by Tony Chi Studios from 2011 to 2014, Gencom said in a statement.
“This acquisition reflects our strong conviction in the long-term strength, resilience and global appeal of the London hospitality market,” said Karim Alibhai, Gencom’s founder and principal. “It also represents an important milestone in our growing relationship with Rosewood.”
Chris Liddiard, HSBC U.K.’s senior director for real estate finance and hotels and Jose Minguela, Santander’s senior director for hotels financing, said the financing will support a capital expenditure plan to further enhance the hotel.
“At Gencom, we focus on acquiring hotels in leading gateway destinations and partnering with strong brands and operators to help them reach their full potential,” said Alessandro Colantonio, Gencom’s chief investment officer.
Rosewood London is part of Rosewood Hotels & Resorts, the luxury hotel brand of Rosewood Hotel Group, which is privately owned by Chow Tai Fook Enterprises.
Gencom recently acquired the 652-key InterContinental Miami with White Bridge Capital, expanding its hotel investments in Florida, U.S.
