Acquisition of Marriott Marble Arch hotel investment
May 31, 2010
Coffer Corporate Leisure has acquired the Marriott Marble Arch Hotel investment on behalf of London & Regional Properties.
The acquisition, for a reported price around £50m, was made from a trust managed by the Noé family..
The Marriott Marble Arch comprises a 240-bedroom hotel over the first to twelfth floors with a bar and restaurant situated on ground floor with further conference facilities, a leisure complex and underground car park.
The property is secured on an 52 year FRI lease from March 1973 to a private company which has granted a long term management contract to Marriott Hotels and Resorts who operate the hotel.