A LEADING British Asian hotelier has sold 10 properties to Starwood Capital in a deal said to be worth around £800 million.
Jasminder Singh OBE sold his properties, including Radisson Blu Edwardian properties in central London, to the US private investment firm, a statement said on Friday (12)
The group will manage the portfolio during the transitional period. Also, it will retain and continue to operate The Londoner and its two Radisson Collection hotels, The May Fair, and The Edwardian Manchester.
A Bloomberg report suggested that the acquisition took place for approximately £800m, but there is no official confirmation on this.
Inderneel Singh, CEO of Edwardian Group, said, “Following the successful launch of The Londoner and a period of strong trading across the portfolio, this sale represents an opportunity to refocus the group and position it for its next chapter.
"Our three landmark properties - The Londoner, The May Fair Hotel, and The Edwardian Manchester – are perfect showcases of our vision for the future, and we remain committed to investing in and delivering distinctive experiences for guests in high-end, purpose-built, city-centre hotels.”
(L to R) Shailesh Solanki, Inderneel Singh, Sadiq Khan, Kalpesh Solanki
Since Jasminder Singh OBE embarked on his hospitality career in 1977, the Edwardian Group has been actively managing and expanding its hospitality portfolio, laying the foundation for what would eventually become Edwardian Hotels London.
The Londoner, the latest addition to Edwardian Hotels London's offerings, is situated in London's Leicester Square and stands out as the world's inaugural super boutique hotel. With 350 bedrooms and suites, six distinctive dining venues and bars, The Residence, The Retreat, private screening rooms, seven dynamic meeting spaces, and an impressive ballroom accommodating up to 850 guests, The Londoner is a member of the esteemed Legend Collection within Preferred Hotels & Resorts.
Edwardian Hotels London further oversees The May Fair and The Edwardian Manchester, both integral to the premium lifestyle brand Radisson Collection. Additionally, the group manages a variety of upscale restaurant and bar brands, including the acclaimed May Fair Kitchen, Peter Street Kitchen, and May Fair Bar.
Singh started out as a qualified accountant, investing in a rather run-down property in Kensington, west London and began to build a portfolio of hotel properties that developed into Edwardian.
He had first come to the UK in 1968, aged 17, having been born in Dar-es-Salaam in modernday Tanzania.
Like many he came intent on studying and gaining professional qualifications. His parents joined him in 1973 and initially ran a post office in Stamford Hill, north London.
The Londoner is very much a pinnacle property and an emblem of how far Singh has travelled. He was awarded an OBE in 2007. The hotel is reportedly the first to receive a £150m Green Loan from HSBC UK for such a hospitality project.
Singh and family was ranked 10th in the Asian Rich List 2024 published by Asian Media Group with an estimated wealth of £1.6 billion.
Rachel Reeves