Tel Aviv-based Fattal Hotel Group has acquired the long leasehold of the 283-room Dilly Limited Edition for £66.5 million ($90 million).
The seller of the leasehold is The Crown Estate, essentially the British monarchy.
Fattal has operated the hotel since 2022, when it acquired its operations for £90 million ($121 million) from a joint venture of APG Asset Management (Archer Hotel Capital (BVI)) and the Singapore-based investor GIC.
The hotel is on Piccadilly, one of London’s principal streets, which links Piccadilly Circus and Regent Street to its east and Hyde Park Corner to its west.
The Grade II-listed hotel built in 1908 is open but undergoing a renovation “delivered in carefully phased stages” and due to be completed in 2028.
Fattal, whose brands include Leonardo and NYX, has 329 hotels and more than 58,000 rooms, according to its website. In Europe it now has 230 hotels, 48 of which are in the United Kingdom.
The firm said it has acquired more than 60 hotels across Europe since 2022.
In June 2024, Fattal acquired the entire 12-hotel portfolio of Dutch hotel brand Zien Group from owners KSL Capital Partners and Garden Capital Group.
That deal saw 28 hotels in Belgium and The Netherlands join the group and undergo conversion into Leonardo-branded hotels.
In a statement, Fattal’s Guy Vardi, director of mergers and acquisitions, and Yaniv Amzaleg, who has the same title, said the deal underlines the firm’s “broader global growth strategy” and underscores “its continued expansion across key European gateway cities.”