Earlier this month, the owners of the 208-bedroom hotel announced they were considering the prospect of a sale as per the terms of their original investment agreement.
Knight Frank, which was appointed to advise the process, said that expressions of interest are already being received and suggested that overseas buyers could be particularly attracted by the offer.
“The hotel business in London is currently trading strongly and as a consequence the appetite for hotel property in the capital from investors, in particular from overseas, is strong,” said Dominic Mayes, head of hotels at Knight Frank.
“International buyers are leveraging off the relative weakness of the pound and see good growth prospects in the hotel sector in London, particularly now that the 2012 Olympics are not far away and some early signs of economic recovery apparent. The Hoxton Hotel is an extremely attractive investment with significant growth potential which is likely to generate a high level of interest in the market.”
High occupancy
The award-winning Hoxton Hotel, which was founded by Sinclair Beecham in 2006, also houses seven meetings rooms and The Hoxton Grill, which is operated by the Soho House Group.
According to its operators, the venue has consistently maintained high occupancy levels, primarily due to its central location, competitive prices and positive reputation.
Philip Newborough, chief executive of Bridges Ventures and director of the hotel, said: “Since its launch, The Hoxton Hotel has become an established, profitable and enduring brand, which combines a resilient property investment opportunity with a strong operational platform.”
“In light of the current strength of the hotel market in London, we believe that now is the time for the right owner to build on the value which has been created.”