YTL acquires London Threadneedles hotel for £9.9m

YTL acquires London Threadneedles hotel for £9.9m

Malaysia-based YTL Hotels has acquired the 74-bedroom Threadneedles hotel in London.

YTL Corp, in a filing with Bursa Malaysia, said the group, through indirect unit Threadneedles Hotel, had bought RW Threadneedle Street for £9.9m.

Formerly the head offices of City and Midland Bank from the 1880s, the Grade II-listed Victorian building was restored to a luxury hotel in 2002.

The hotel was one of the first UK additions in 2013 to Marriott International’s Autograph Collection, its lifestyle brand for independent, luxury hotels. The hotel will retain its franchise affiliation with the collection under YTL’s ownership. It is the company’s second Autograph property in the UK following its acquisition of the Glasshouse hotel in Edinburgh last year. Its UK portfolio also includes the Gainsborough Bath Spa, Monkey Island in Berkshire and the Academy hotel in London.

The acquisition expands YTL’s worldwide portfolio of Autograph Collection properties to four, also including the Majestic Hotel Kuala Lumpur and Hotel Stripes Kuala Lumpur.

Close to the Bank of England and the old Royal Exchange, Threadneedles is situated in close proximity to the financial and economic heart of London’s Square Mile, and is also home to a Marco Pierre White Wheeler’s of St. James’s Oyster Bar and Grill Room.

Dato’ Mark Yeoh, executive director of YTL Hotels, said: “We are excited to secure yet another iconic Autograph Collection property in partnership with Marriott International to further expand our hospitality footprint within the United Kingdom. Our relationship with Marriott International has spanned over two decades through the ownership management and future development of ten properties across three major continents – Europe, Australia and Asia, and together we will continue to set new benchmarks for the hospitality industry for years to come.”

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