AEVIS Hotel Division Acquires Hotel L’Oscar In Central London For £60m
Main Photo: Hotel L’Oscar
Date: March 2022
Name: Hotel L’Oscar
Location: Bloomsbury, Central London, England, UK
Number of Keys: 39
Seller: Aggregate Holdings
Buyer: AEVIS Victoria
AEVIS VICTORIA SA’s (AEVIS) hotel business is expanding its portfolio with the acquisition of its first international outlet, the five-star hotel L’Oscar in Southampton Row, in London’s Bloomsbury. Victoria Jungfrau AG acquired the operating company and Swiss Hotel Properties SA, AEVIS’ hotel real estate company, acquired the freehold of the historic hotel building and an adjacent property. The total investment amounts to GBP 60 million, with a total surface area of 5’200 sqm.
Located in the former home of the English Baptist church, built in 1901/03, two miles from both Buckingham Palace and Big Ben, the hotel is expected to ultimately generate annual revenues in excess of £20 million and will be consolidated as of 1 March 2022. The acquisition of L’Oscar further strengthens the partnership with Michel Reybier Hospitality, which also manages other hotels in AEVIS’ hotel division.
L’Oscar opened for the first time in spring 2018, after a complete renovation. It currently offers 39 spacious rooms and suites, two bars, a 74-seat restaurant and several function rooms. The renovation was carried out by architect Jacques Garcia, also known for his collaboration with Michel Reybier at La Réserve Genève, La Réserve Paris, La Chartreuse du Cos d’Estournel and more recently La Réserve Ramatuelle. An extension, including a Spa and a dozen rooms and suites, will be created in the adjacent building in 2023.
AEVIS VICTORIA SA invests in healthcare, life-style and infrastructure. An important holdings of AEVIS VICTORIA encompass Swiss Medical Community SA (90%), the one personal hospitality group in Switzerland with a presence in all three language areas; from Victoria Jungfrau AG, with 9 luxurious hotels in Switzerland, including La Reserve Eden au Lac, Zurich, Seiler Hotels in Zermatt and Crans Ambassador Hotel. Infracore SA (30%), an organization specialising in hospital and healthcare infrastructure, Swiss Lodge Properties AG, an organisation specializing in lodge infrastructure, Medgate AG (40%), the undisputed chief in telemedicine in Switzerland, and NESCENS SA, a model for prevention and betteraging. AEVIS VICTORIA is listed on the SIX Swiss Exchange within the Swiss Reporting Customary beneath the abbreviation AEVS.SW
Triangle Hotels & Resorts were originally involved in acquiring the site and opening the hotel in 2017/18, but somewhere the ownership changed to Aggregate Holdings, who sold the hotel to Aevis.
Price: £60 million
Price per Key: £1.54 million
THPT Comment: Another up-scale property changes hands in central London. Tasty price, but good if they can add another 12 rooms and suites and a Spa
First Seen: Hotels.mag
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