The Arch London sold to Japanese buyers
By George Sell
UK: The Arch London has been acquired by Japanese group StayWell Holdings and its parent company Prince Hotels for an undisclosed sum.
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The 82-key hotel near Marble Arch will become the first property globally to operate under the Prince Akatori brand and will undergo a £3 million refurbishment and rebrand in 2019. The new owners said the property will “showcase the meeting of English heritage and global connectivity with the unique sophistication and hospitality of Japanese culture”.
Sold by the Bejerano family’s AB Hotels group, the Arch London opened in 2010 at a cost of £25 million following the development of two former two-star properties, the Concorde and Branston Court, with seven Georgian Grade-II-listed townhouses and two mews homes.
Abraham Bejerano said: “Although we had no intention of selling the Arch London, which is a very successful award winning business, having been approached by Staywell Holdings and understanding their vision for the property, we made the very difficult decision to agree to the acquisition. As a family run business we will all be very sad to hand over this wonderful hotel which we have seen blossom from its inception and are grateful to the entire team for the marvellous job in creating such a fantastic product and for their hard work, dedication, commitment and friendship. We are confident the Arch London will continue to thrive under the new owners.”
Masahiko Koyama, president of Prince Hotels, said the launch of the Prince Akatoki in London will help “to transform Prince Hotels from a Japanese chain into a global chain”.
Simon Wan, president and director of StayWell Holdings, said the brand will offer “mindfulness, service, tranquillity and a peerless aesthetic”.
Current general manager Ray Goertz will stay in the role.
StayWell Holdings’ portfolio of 75 hotels worldwide operates under nine brands: the Prince Akatori, the Prince, Grand Prince Hotel, Policy, Park Regis, Prince Hotel, Leisure Inn Plus, Prince Smart Inn, and Leisure Inn.