GuestInvest, a hotel room investment company, has acquired two central London developments after securing a further £200m in equity and debt from partner Bank of Scotland. Financial Times
The two hotels, near Hyde Park and Notting Hill, have been acquired for £100m. Hotels are one area of the commercial property market bucking the trend of a general downturn, according to consultant Deloitte. Hotel occupancy rates climbed to 83.6% in 2007, with revenue up more than 10%.
GuestInvest recently acquired celebrity haunt Blakes and now plans an international expansion.