Hallmark will now be investing £2m in refurbishing the 109-bedroom venue, with a view of upgrading the historic property to a 4-star business, in line with Hallmark’s other hotels.
Opened in 1928, the Aerodrome Hotel was the world’s first airport hotel designed to be part of the Croydon Airport complex, London’s first international city airport.
David Creamore, director of property agents Christie + Co, who conducted the sale, said the acquisition “proves once again that in a market where the chances to acquire freehold properties of this quality are scarce, operators are keen to make the most of these rare opportunities.”
Hallmark expansion
Arnold Schnegg, managing director of Hallmark Hotels said the acquisition was strategically important due to its location, allowing the company to expand its business in the south of England.
“Hallmark Croydon marks the seventh hotel for us and fulfills a long held desire to continue our expansion into the South of England, alongside our property in Bournemouth,” he said.
“The hotel has a rich history in the area and we look forward to becoming a part of that as we update the property in the Hallmark style.”
Other hotels in Hallmark’s portfolio are located in Manchester, Carlisle, Derby, Hull, Gloucester and Bournemouth.
Refurbishment of the former Aerodrome hotel, which includes conference facilities and a restaurant, is due to be completed in August this year.
Hallmark said it plans to train the hotel’s staff in line with its company standards.