Tue, 24 May 2011 | BUSINESS SALE
Pret A Manger founder Sinclair Beecham has placed his Hoxton Hotel on the market for £70 million.
There have been whispers of a potential sale since November, but now Knight Frank has been appointed to market the property.
The Shoreditch-based hotel was founded by Sinclair Beecham in 2006. The hotel features 208 bedrooms, six meeting and event rooms, a bar and restaurant - the Hoxton Grill - run by the Soho House Group.
At the time of opening, new hotelier Beecham said it would "offer comfort and style without rip-off prices."
Mr Beecham commented, "With The Hoxton, we have demonstrated that quality does not need to be expensive and can also be highly profitable. Now is the appropriate time for the original investors, who had the vision to back this concept, to seek an exit for new owners to take the hotel forward."
Head of hotels at Knight Frank, Dominic Mayes believes there will be plenty of interest in the hotel, and that potential buyers are likely to include, "traditional hotel funds, international private investors and hotel operators looking to establish an immediate high-profile presence in London."
The Hoxton holds a sale of five rooms for £1 a night periodically throughout the year.
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