£12.5 Million Renovation. 241 Keys. And London's Luxury Market Just Got Harder.
KKR and Baupost paid roughly $1.16 billion for 33 Marriott UK hotels including the freshly renovated County Hall, just as London's luxury ADR dropped more than 7% and 757 new five-star rooms flooded the market. The timing raises a question nobody in the press release wants to answer.