Singh buys London hotel

After purchasing a historic Manchester property last month, British hotelier Jasminder Singh bought the upscale 169-room New Providence Wharf Hotel in London’s Canary Wharf development.

The hotel has been operated by Singh’s Radisson Edwardian Hotels, Hayes, U.K., for the past four years. It was built by the Ballymore Group and is situated on the banks of the River Thames.

The privately held Edwardian Group, the parent company of Radisson Edwardian, asserted that it has “ambitious targets for the hotel both from the upcoming Olympic Games and from the continued development of the Docklands area.”

The amount of the purchase has not been disclosed, although it had a guide price of £37.5 million (US$58.5 million).

“This latest purchase adds significantly to our portfolio. It also brings the hotel under our full control, which will allow us to broaden the scope of the hotel’s offering in due course. The group is well positioned to make further purchases when interesting opportunities present themselves,” said Paul Mansi, Edwardian Group COO.