Libyan-backed Corinthia London set to open despite sanctions threat

The Corinthia chain of hotels, including the Corinthia London, is owned and operated by the Malta-based company International Hotel Investments (IHI). The Libyan Arab Foreign Investment Company (Lafico) is a shareholder in IHI and owns around one third of Corinthia London.

Last month, the EU issued an order imposing “restrictive measures” against certain entities – amongst which was Lafico – that were under the control of Gaddafi and his family, and could generate funding for his regime.

However, a spokesperson for the hotel told BigHospitality that the sanctions will have “no practical day to day effects on the running of the Corinthia group or on the opening of the hotel”.

“The sanctions that have been announced by the UK, the EU and the US do prevent Lafico from selling or trading or moving any of its assets, and it will also not receive any dividends from those investments. But the sanctions have no impact directly on the Corinthia business.”

Corinthia London ​

Corinthia London is this month opening its doors on a soft launch, and plans to open to the public soon afterwards.

Located on Whitehall Place, the hotel is the eighth in the Corinthia Hotels portfolio. Other locations include Budapest, Prague, St. Petersburg, Malta, Lisbon and Tripoli, with a new opening expected in Sicily next year.

Corinthia London aims to offer “a 5-star experience with a contemporary edge”. It consists of 294 rooms, including 43 luxury suites.

It will have two restaurants: The Northall, which will focus on British artisanal produce; and Massimo Restaurant and Oyster Bar, headed up by Italian chef Massimo Riccioli, chef patron of La Rosetta in Rome.

The Corinthia London site was first opened as a hotel in 1886, and operated as the The Metropole until it was taken over by the Ministry of Defence in 1936. Later used as offices, the building was purchased in 2008 by Corinthia Hotels, and has since been under refurbishment to turn it back into a hotel.