MCR Property Group has acquired four London hotels for £150 million ($202 million), with plans on growing that quartet into a “new operational real-estate hospitality platform focused on income growth, yield optimization and scalable, brand-led expansion,” according to a news release.
It is the Manchester-based company's first foray into operational real estate and hotel branding.
The hotels are the 38-room Ashburn Hotel, 19-room Ashburn Court, 16-room Claverley Court and 14-room Chesham Court, which will soon be consolidated in an “independent lifestyle collection brand.” All four hotels are in the central London borough of Kensington & Chelsea, and refurbishments and renovations are now underway in all properties.
MCR Property Group said of the £150 million deal price, £123 million ($165 million) of it was invested in one property, most likely the Ashburn Hotel, on Cromwell Road.
According to CoStar, the hotel was last acquired in February 2025. In a standalone deal, the hotel transacted for £37.9 million, or approximately £997,400 per key.
Aneel Mussarat, MCR Property Group's founder, said in a statement that the acquisition — a blend of boutique hotel rooms and serviced apartments — is a “deliberate move into operational real estate, in a market where we see clear inefficiencies and significant scope for value creation.”
He added the strategy now is to “scale this platform to £500 million through further acquisitions across London and key United Kingdom markets, where we can apply the same model and deliver consistent, repeatable performance.”
MCR Property Group also confirmed it is negotiating and bidding on a range of hotel assets across the U.K. to grow its new platform.
“We are building a platform, not acquiring assets in isolation. That means putting the infrastructure, systems and brand architecture in place from day one, so we can scale efficiently as we deploy further capital,” Mussarat said in the release.