Starwood Capital Group, a US private equity firm specialising in real estate, has acquired a portfolio of 10 hotels from the Edwardian Group in a strategic off-market transaction, the financial details of which remain confidential.

Although the press release on the deal issued on Friday did not reveal the price, Bloomberg News reported around £800 million an hour before the deal was confirmed, citing unnamed sources.

The newly acquired portfolio comprises 10 hotels, with a total of 2,053 rooms. This acquisition strengthens Starwood Capital's presence in the European hotel market, bringing the total to 47 hotels and around 10,000 rooms on the continent.

Following the transaction, The Edwardian Group will retain ownership and management of The Londoner and its two Radisson Collection hotels, The May Fair and The Edwardian Manchester.

In addition to the acquisition, Starwood Capital and Edwardian Group have expressed their intention to collaborate on future opportunities. During the transition phase, Edwardian Group will continue to oversee the operation of the portfolio, while Starwood Capital will plan future investments to enhance the hotels.

List of hotels acquired :

1. Radisson Blu Edwardian Hampshire Hotel

2. Radisson Blu Edwardian Mercer Street Hotel

3. Radisson Blu Edwardian Bloomsbury Street Hotel

4. Radisson Blu Edwardian Berkshire Hotel

5. Radisson Blu Edwardian Kenilworth Hotel

6. Radisson Blu Edwardian Grafton Hotel

7. Radisson Blu Edwardian Vanderbilt Hotel

8. Radisson Blu Edwardian Hotel New Providence Wharf

9. Radisson Blu Edwardian Heathrow Hotel & Conference Centre

10. Radisson Blu Edwardian Sussex Hotel

“We are delighted to have had the opportunity to acquire this one-of-a-kind portfolio of Central London freehold hotels. London is one of the world’s most sought-after hotel markets, and this portfolio enables to us gain exposure on a unique scale to London. We plan to invest significant capex during our ownership into further enhancing the hotels.” - Tim Abram, managing director at Starwood Capital 

“Following the successful development of The Londoner and a period of strong trading across the portfolio, the sale represents an opportunity to refocus the group and position it for the next chapter of growth. Our three landmark properties – The Londoner, The May Fair Hotel, and The Edwardian Manchester – each mark our continued commitment to invest in and deliver distinctive experiences for guests in high-end, purpose-built, city-centre hotels.” - Inderneel Singh, CEO of Edwardian Group