LONDON In its third hotel acquisition in a week, Host Hotels & Resorts Inc. has purchased the 266-key Le Méridien Piccadilly, London, for £64 million. The purchase price includes the assumption of a £33 million mortgage.
The hotel is located in the prestigious Mayfair district of London, a central location for both business and leisure travelers and offers 12,000 square feet of meeting space as well as a large health club featuring one of the largest indoor pools in the London hotel market.
Earlier this week, Host reached an agreement to acquire the 424-key Westin Chicago River North for US$165 million. That follows last week’s announcement that Host led a joint-venture acquisition of W Union Square in New York City for an undisclosed price.