The St. James’s Hotel and Club in London, home to William Drabble’s Seven Park Place, has been sold to an overseas investor for £60m.
The five-star hotel, which joined the Small Luxury Hotels of the World brand last December, was bought by a private family from previous co-owners, David and Elliot Rosenberg, Alan and Gary Landesberg, and Galliard Homes.
The purchase comes as the luxury hotel market in London continues to attract strong interest from overseas buyers, as the sector performs above expectations despite the economic recession.
It will remain under the management of pan-European operator the Althoff Hotel Collection.
Henrik Muele, managing director of St. James’s Hotel and Club who joined the hotel in June 2009, said the new ownership would help the hotel “grow in profile”.
“I am very excited that the St. James’s Hotel and Club has been acquired by a family who appreciate the potential of this beautifully redesigned hotel and in particular the emphasis on our fine dining restaurant, Seven Park Place.
“The new owners have a good understanding of the luxury hotel market and an appreciation of the importance of great food and good service in our industry. This will help the St. James’s Hotel and Club to grow in profile as one of the best and most exclusive luxury hotels in London and complement William as he works towards a Michelin star for our fine dining restaurant.”
The Althoff Hotel Collection currently holds 11 Michelin stars within its stable, with two restaurants near Cologne both holding three stars each.
Last December Muele told BigHospitality that the Althoff Collection was looking for a second London property, and hoped “to find one very soon”.
Drabble joined the hotel in September 2009 following his departure from Aubergine, where he maintained a Michelin star for ten years.