The Lalit Suri Hospitality Group will open a high-end boutique hotel in London by the end of 2014, after paying £15 million to acquire a prominent site, which will be converted into a hotel.
Located near Tower Bridge in the City of London, the group has bought a ‘heritage’ building – St Olave’s was formerly a grammar school. The company will start the restoration and development work in 2013 to establish a 70-room luxury boutique hotel, investing an estimated further £12-13 million. The hotel will open by the end of 2014.
This is the third hotel property acquisition by an Indian company in London in recent years. After Sahara’s Grosvenor House and Bird Group’s purchase of Royal Park Hotel, the Suri Group is the third to make its presence felt in the dynamic London market.