Cola Holdings, the owner of the Westbury hotel in London’s Mayfair, intends to bring the property to market for more than £600m once the sale of the Ritz is completed, according to a report in Property Week.
Reports last month said the Barclay family, which owns the Ritz London nearby, is in discussions to sell the five-red-AA-star, 136-bedroom hotel to Saudi private investment group Sidra Capital.
Last year it was reported that the family was looking at options to offload the hotel for around £800m – a price tag that would make it the most expensive UK hotel sale in history.
The five-AA-star, 225-bedroom Westbury hotel is operated under Marriott International’s Luxury Collection soft brand.
Cola Holdings’ UK hotel portfolio also includes the 706-bedroom Holiday Inn London Kensington High and the 603-bedroom Hilton London Kensington hotel, which it acquired for £260m in 2018.