HSH, which owns the Peninsula brand, had been developing the 190-room luxury hotel at London’s Hyde Park Corner in a 50:50 joint venture with the site’s freeholder Grosvenor.
But now HSH has taken 100% ownership of this project, while Grosvenor retains its role as freeholder.
Construction of the hotel, which will replace offices built in Grosvenor Place during the 1960s, is scheduled to begin next week with completion set for 2021.
“This restructure will result in our group funding all the remaining development costs, representing a significant increase in investment,” said HSH in a statement.
HSH takes full control of Peninsula London project
Luxury
Rob Gill
10 August 2016
Hongkong and Shanghai Hotels (HSH) has taken complete control of the funding and building of the Peninsula London hotel development.
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