French boutique hotel operator Touriste has acquired the Chrysos Hotel in West London.
The Chrysos Hotel in West London comprises two converted Georgian properties in Norfolk Square, Paddington.
Plans to extensively upgrade and remodel the hotel when it reopens post the Covid-19 lockdown, as well as increase the number of rooms are already underway.
The acquisition, the group’s first acquisition outside of France was closed on the 14th April 14 for an undisclosed sum.
The deal involved the purchase of the hotel business and all assets of the hotel through the acquisition of shares in an onshore real estate SPV (special purpose vehicle).
The deal team was led by Co-Leader of the global Hotels & Hospitality Sector, Bryan Cave Leighton Paisner LLP, Laura Wild.
It is encouraging to continue to see M&A activity through the current Covid-19 crisis.