Hotel Verta, the luxury London hotel formerly owned by Von Essen's Andrew Davis, has reportedly been bought by entertainment guru Simon Cowell's brother Nicholas and will be re-branded a Rhombus hotel.
According to the Evening Standard, the 70-bedroom hotel was bought by property consultant Cowell, director of The Estate Office and the Cowell Group of Companies off a guide price of £20m last week.
The hotel, which went into administration in July, following the collapse of Von Essen, will be managed by the Hong Kong-based Rhombus International Hotels Group and will be known as Hotel Verta by Rhombus.
In a statement the hotel group said it would maintain the hotel's 'stylish decor' but would introduce the group's service philosophy of 'delivering excellence' and offering its 'versatile and personalised services and products' to guests.
The management contract at Hotel Verta marks Rhombus' first move into the UK.
"The entire team at Rhombus International Hotels Group is excited to enter the London marketplace, one of the world’s most dynamic cities, alongside Hong Kong, an ideal destination to expand our hotel portfolio for our loyal guests," it said.
"Hotel Verta by Rhombus will also provide a diverse range of career opportunities and continuous professional development for our team."
Rhombus currently operates four hotels in Hong Kong; Hotel Panorama by Rhombus in Tsimshatsui, Hotel LKF by Rhombus in Central, Hotel de EDGE by Rhombus in Sheung Wan and Hotel Bonaparte by Rhombus in Wanchai.
It is also scheduled to open its flagship hotel in China - Rhombus Fantasia Chengdu Hotel - in 2012 along with two more properties in Hong Kong and sees London among its plans for international expansion.