Swissotel’s London property, Swissotel the Howard, is set to close in September due to the property owner’s redevelopment plans.
As part of the Arundel Great Court development, the hotel will be torn down to make way for new commercial and residential buildings, as well as a new hotel, and is expected to be completed by 2015.
The five-star, 189-bedroom hotel has been managed by Swissotel Hotels and Resorts since 2001 and owned by real estate investment trust Land Securities.
The management have said the hotel will continue to operate as normal until its closure on 30 September 2011 and they will attempt to reemploy the hotel’s staff in other Swissotels and Resorts properties worldwide.
“We have had a close relationship with Land Securities and the company was always satisfied with our achieved business results here at Swissotel the Howard, London,” said Andreas Stys, GM of the Swissotel the Howard. “The decision to cancel the contract is solely based on the financial decision of the transformation of the development.”
Swissotel Hotels and Resorts said it is looking for an alternative site to open a new hotel in London.
Land Securities is the largest Real Estate Investment Trust in the UK on the basis of equity market capitalisation. In July 2006, the FTSE 100 company completed the purchase of Swissotel The Howard, London and extended the existing management contract between former owner Samosir and Swissotel and Resorts.
In 2001, Swissotel and Resorts signed the first management contract for the London property with MWB Howard Hotel which took over the independent Howard Hotel. In November 2004, MWB Howard Hotel sold Swissotel The Howard, London to Samosir until it became part of Land Securities’ portfolio in 2006.
“Our dedicated development team is currently looking into new exciting properties in London and the UK and we hope to get an appropriate deluxe hotel in the near future to be back in this important hospitality market,” says Meinhard Huck, President of Swissotel Hotels and Resorts.
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