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The Old War Office building once occupied by Winston Churchill is being transformed into Raffles’ first hotel in London.
The UK Ministry of Defense sold a 250-year lease on the building in March 2016 to Hinduja Group and Spain’s Obrascon Huarte Lain SA for £350M. The 581k SF property will be operated by Raffles and include 50 apartments.
The Raffles brand was bought by Accor SA, Europe’s largest hotel operator, earlier this year, according to Bloomberg.
Accor shelled out $2.9B in shares and cash to buy FRHI Holdings, the owner of the Fairmont, Raffles and Swissotel brands to boost its luxury hotel business. [Bloomberg]
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