The 127-room Radisson Blu Hotel, London Leicester Square has been acquired by CLI Dartriver, according to business advisory CBRE, which helped broker the deal.
In a news release, CBRE confirmed the hotel's seller is an affiliate of Starwood Capital Group. Though undisclosed, the price is estimated at £120 million ($159 million), according to CoStar. The per-key cost equals £994,882. CBRE has not confirmed the total deal price when reached by CoStar News Hotels.
An outline of CLI Dartriver’s portfolio on its website suggests the Radisson Blu Leicester Square is its first acquisition of a hotel property.
CLI Dartriver was founded in February 2020 in a joint venture from Dartriver London, Conren Land and Indigo Invest, with the goal to “invest on behalf of significant private capital, focusing on the long-term strengths of the London market.”
Ellina Kraynik, director, hotel capital markets, CBRE, said in the news release the deal driver for London-based CLI Dartriver is “the opportunity to own a prime, freehold hotel in a Central London location that holds long-term appeal.”
The hotel is located in the center of London’s West End. It was acquired by Starwood Capital on Jan. 12, 2024, as part of a 10-hotel portfolio of Radisson Blu hotels previously owned by Edwardian Group.
According to CoStar data, those hotels — previously collected under the umbrella of Radisson Blu Edwardian — contained 2,053 rooms and had a combined purchase price of £800 million. The price of the Leicester Square hotel, operated by Axiom Hospitality, was not broken out specifically in that deal.
Edwardian Group retained three hotels from that portfolio, which it continues to own and operate — The Londoner and, under the umbrella of Radisson Collection, The May Fair and The Edwardian Manchester.