Recent years have seen fresh names and brands move into London’s hotel scene, lured by the capital’s increasing popularity and profitability. This month however some of the better known names have been announcing plans to move onto the turf of the young pretenders.
The Doyle Collection already has a number of boutique hotels in London, including The Kensington and The Marylebone. Now the Irish-based hotel group has announced that it is currently on the lookout for additional London properties to add to its portfolio.
The group, which also owns hotels in Dublin, Bristol and Washington DC, has staged an impressive comeback recently. Having suffered losses of more than £3million just two years ago, the Doyle Collection has recently announced post-tax profits for last year of more than £4million. Clearly buoyed by this success, the company appears keen to plough its profits back into properties, and London is at the forefront of its machinations.
“We are highly committed to the London market and would like to grow our presence in London due to increasing demand from guests,” Chief Executive Pat King told the Evening Standard recently. No hints on specifics as yet, but King says that the group has, “strict criteria and would examine possibilities in developing areas of the capital.”
Another familiar franchise name meanwhile is set to expand its London presence soon, with the planned development of a Hampton by Hilton in the London Docklands. The hotel will be developed by Marick Capital, using £20million worth of funding from financial firm Topland, who have indicated that they plan to fund further hotel developments.
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Photo credits: The Kensington Hotel.