The return of aparthotels sets hotel investors thinking
Hotel room ownership and rental pool projects are returning to the United Kingdom following years of decline after the financial slump of 2008.
In the most recent example, Frogmore Real Estate has put up for sale a five-star hotel in London’s Moorgate district — the South Place Hotel — at a price of £80 million (€113 million) for the whole hotel or £1 million (€1.4 million) for one of its 80 bedrooms.
Gerald Nolan & Partners have been running the sale. D&D, formerly Conran restaurants, manages the property.
Dan Larkin, a corporate lawyer at Bryan Cave LLP, thinks that this is an example of a growing trend toward the return of aparthotels. “This product has become quite common in recent years in the United States, and has been successfully developed in a variety of European and Asian countries,” he says.
Aparthotels are usually apartments or villas set within a full service hotel or resort. In terms of ownership, they are broken up