Le Méridien Hotel
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Le Meridien Piccadilly
21
Piccadilly,
West End
London, W1J 0BH
The Le Méridien Hotel 5 Star - Rooms 267
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Historic Grade II Listed 5 Star Hotel can be acquired for £95m 12 years left on the hotel management agreement and the lease is circa 74 years left with right to extend for another 26 on a Crown Lease.
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Recent operating statistics at the Hotel indicate an occupancy level above 87 per cent, with an ADR in excess of £213, resulting in a Rev PAR of above £187. In 2007, the hotel had a strong year, generating £18 million in room revenues and more than £23.7 million in total revenues, with an NOI of £5.1 million. How ever, this year the NOI went down to £1.5 million due to international financial crises.
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Clients needs to show a letter outlining their profile and proof of funding then I am then in a position to arrange a meeting face to face with the owner’s representative.
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The management contract terms can be negotiated, this would be a great opportunity to acquire a 5 star hotel in an AAA location at a sensible price.