DOCKLANDS DOUBLETREE BY HILTON HOTEL SELLS TO CHINESE INVESTORS
CBRE Hotels and JLL Hotels & Hospitality Group have advised HIG Capital and CS Hotels on the sale of the DoubleTree by Hilton Hotel London – Docklands Riverside, to Junson Capital from China.
The 378 guestroom internationally branded hotel is located on the banks of the river Thames in Central London, opposite the global financial centre of Canary Wharf. In July 2015, HIG Capital and CS Hotels completed a transformative refurbishment, delivering a distinctive DoubleTree by Hilton, including an inspired and modern redesign of the rooms and public areas. The re-design has seen a ramp up in trading with an ever increasing number of visitors.
Whilst there have been a number of hotel transactions following the referendum decision including, the Travelodge Liverpool Street and Kings Cross, the DoubleTree by Hilton Hotel London – Docklands Riverside, is the first trading hotel operating under a management agreement to trade.
This transaction demonstrates that despite any concerns following the referendum, the demand for quality London hotels from international investors remains strong. There is a sense that despite any short term concerns, London is still one of the most desirable locations for any hotel investor.
Jileen Loo, Head of Asia desk, CBRE Hotels said: “The drop in sterling following the referendum vote has made UK assets more attractive to overseas investors and to tourists looking for overseas holiday destinations. We have seen an influx of Chinese visiting the UK fueling investor demand in the hotel sector from Chinese buyers. However, hoteliers and traditional estate investors are not the only ones capitalising on this surge in inbound Chinese tourism.
As highlighted by this sale to a family office from Chengdu, who are first time buyers in the UK market, we are seeing increasing interest from a range of different buyers. Even investors who may have not have previously owned hotels before are happy to place their capital in this growing sector, and outsource operations to third party professionals.”