Hoxton hotel, which is located on Great Eastern Street in Shoreditch, London, has recently changed its owner. Ennismore Capital, a firm that mostly works with boutique hotels, is the new owner of the popular property. The sum of the deal is not disclosed. However, the report issued by the seller, Sinclair Beecham and his private firm Bridges Ventures, proves that the final sum of the deal exceeded US$100 million.
The new owner has already made a comment concerning the purchase, saying no changes to operation of the hotel are to be made. The property will keep working in its usual day-to-day basis. Such step is perfectly understandable as the hotel has reached the average level of occupancy of 90% and higher since the debut in 2006. Such a tremendous popularity is the result of the combination of quality service and reasonable rates. Moreover, the new owner has plans concerning the launch of the Hoxton brand with properties in popular cities of Europe and New York. First hotels may appear within next 5 years.
Hoxton has already won recognition and popularity among budget hotels, and this is only a beginning as the hotel’s executive manager says. Guests of budget hotels usually expect to find boring rooms and limited number of services, so they are very pleased and surprised when they stay at Hoxton.