Development
Primary
Mar 29
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.
Transactions
Primary
Mar 28
A new UAE-backed fund just committed £1.1 billion to two Mayfair hotel assets totaling 331 keys, implying a per-key figure that redefines what "luxury premium" means in London. The cap rate math on this deal tells you exactly what the buyer believes about the next decade of London hospitality.
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