Hotel Online  Special Report

 
Molinaro Koger Advises on £150 Million
Great Eastern Hotel Transaction

 

London, United Kingdom – 14 March 2006 – Molinaro Koger (MK) announced today that it acted on behalf of joint owners, Conran Holdings and the Blackstone Group, in the successful sale of the Great Eastern Hotel, London.  The grade II-listed property on Liverpool Street was sold to Global Hyatt Corporate and JER Partners for £150 million.  It is expected  that the hotel will re-brand as a Hyatt in January 2007.

“This is one of the most significant sales in London in recent years; it indicates the on-going buoyancy of the London market and strong interest in luxury properties,” said Eric Kudlak, Managing Director, Europe, Molinaro Koger.

“With the highest average daily rate in Europe, London remains one of the most attractive locations in the world for international investors and operators, all of whom want properties in the capital.  While other major brands have multiple properties, Hyatt’s presence here has been very limited, making the Great Eastern a logical fit.”

Originally a grand Victorian railway hotel, the 267-bedroom Great Eastern Hotel re-launched in 2000.  Located in the heart of the City, next to Liverpool Street Station, the hotel has 12 private dining and meeting rooms, four restaurants and five bars, a health club and two retail units.  Conran Holdings, which manages the hotel’s restaurants, bars and private dining rooms, will continue to provide advisory services on these activities to Hyatt/JER following the sale.  The Great Eastern Hotel is held on a lease from Railtrack.

Molinaro Koger was founded in 1959 to provide specialized hotel real estate advisory services to the industry.  Working exclusively in the hotel sector, the Washington DC-based company is one of the top three hotel real estate companies in the US, with 11 offices in the USA, Beijing, London and Shanghai.  Recent assignments in Europe include the Prague Marriott, Forte Village in Sardinia and various properties in the UK, France, Portugal and Poland.

For further information about these transactions and current listings, please contact Eric Kudlak at Molinaro Koger, Berkeley Square House, Second Floor, Berkeley Square, London W1J 6BD, United Kingdom, +44.207.887.6089  or via www.mkhotels.com.
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About Molinaro Koger

Molinaro Koger (MK) is an international hotel real estate brokerage, advisory and capital markets firm. The company structures hotel transactions of boutique through luxury market segment assets throughout the world. MK is headquartered in metro-Washington, DC, and has offices in London, Atlanta, Beijing, Chicago, Cincinnati, Dallas, Los Angeles, Phoenix, San Francisco and Shanghai. 

Founded in 1959, Molinaro Koger successfully markets hotel real estate, sponsors limited partnerships, and arranges financing for clients. Given the cyclical nature of real estate, the firm has weathered an array of highs and lows during the course of its 47-year history. Through this time, the company has grown and assisted clients in achieving their investment goals.

“With each lodging real estate cycle we gather strength, expertise and contacts enabling us to better serve the best interests of our clients, regardless of economic cycles,” says President Robert Koger. “The results we achieve are directly attributable to the commitment and expertise of our professional staff.”

Molinaro Koger can be accessed online at www.mkhotels.com.

###
Contact:

Berkeley Square House
Berkeley Square
London W1J 6BD
United Kingdom
 
 

Sharon Lemon
slemon@mkhotels.com
+1.651.324.8469 
or Eric Kudlak
ekudlak@mkhotels.com


 
Also See: Cincinnati Office of Molinaro Koger Sells Holiday Inn Cincinnati North / February 2006
Molinaro Koger Announces Record $2.2 Billion in Hotel Transactions in 2005 / January 2006
Sale of Chicago’s Omni Ambassador East Hotel Arranged by Molinaro Koger / December 2005
Hotel Monticello of Georgetown, A European-style Luxury, Boutique Hotel, Sold by Molinaro Koger / June 2005
Molinaro Koger Structures Sale of Sierra Suites® Portfolio / May 2005
Molinaro Koger Structures Sale of Hilton Deerfield Beach Florida / April 2005
Molinaro Koger Structures Sale of Two Residence Inns Portland, Oregon / February 2005
Molinaro Koger Structures Sale of Lenox Suites Hotel Chicago / February 2005
Molinaro Koger Structures Sale of Hilton College Station & Conference Center / January 2005
The Outstanding Year that Was: MK Records $1.3 Billion in Hotel Real Estate Transactions in 2004 / January 2005
Molinaro Koger Structures Sale of Marriott Suites Hotel Bethesda / December 2004
Molinaro Koger Arranges Sale of the Renaissance Jamaica Grande Beach Resort / December 2004
Hospitality Financier Edward Blum Joins Molinaro Koger / December 2004
FelCor Sells North Dallas Crowne Plaza Hotel, Advised by Molinaro Koger / October 2004
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Molinaro Koger Arranges Sale of Crystal City Marriott Hotel / July 2004
Molinaro Koger Facilitates Sale of Sheraton Bucks County Hotel to Ashford Hospitality Trust / July 2004
Molinaro Koger Structures Sale of Sheraton Hotel Washington, DC / June 2004
Molinaro Koger Advises in the Sale of Miami Beach Ritz Plaza Hotel — Kimpton to Rebrand and Manage / June 2004
Molinaro Koger Structures Sale of Hilton Hotel Pasadena, California / May 2004
Molinaro Koger Closes Holiday Inn East Columbus on Behalf of B.F. Saul Company / April 2004
Molinaro Koger Structures Sale of Radisson Hotel Charleston / April 2004
Molinaro Koger Closes 82 Transactions in 2003 / January 2004
Thompson Calhoun Fair and Molinaro Koger Brokers Sale of 15 - Hotel Portfolio / December 2003
Molinaro Koger Closes Sale of Renaissance Hotel St. Thomas to Palace Resorts of Cancun, Mexico / November 2003
Molinaro Koger Closes Four Full-Service Hotels / November 2003
Molinaro Koger Closes 46 Transactions Through Third Quarter 2003 / October 2003
Molinaro Koger Selected to Market 7-Property Holiday Inn Portfolio on Behalf of FelCor / May 2003
Simon Allison, Former Finance Director of Hospitality Europe BV, Named Vice President, Molinaro Koger / April 2003
Molinaro Koger Opens Atlanta Office / Oct 2002
Hotel Acquisitions Continue In Tight Market Molinaro Koger Announces 39 To Date Closings / Oct 2002
Molinaro Koger Opens Atlanta Office / Oct 2002


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