Gencom buys Rosewood London with £225 million of senior debt

Gencom, a US investment firm with real estate holdings worldwide, has bought Rosewood London on High Holborn in central London. The 308-key luxury hotel is the firm's second Rosewood asset, following its purchase of Rosewood Bermuda in 2017.

HSBC and Santander supported the transaction with a £225 million senior debt financing package. HVS Hodges Ward Elliott represented the seller. The price Gencom paid has not been disclosed, and the source material does not name the seller.

The hotel is in a landmark 1912 building close to Covent Garden, the Royal Opera House, the British Museum and Somerset House. Between 2011 and 2014 it was transformed under the design firm Tony Chi Studios, which shaped much of what guests encounter inside today.

Karim Alibhai, Gencom's founder and principal, framed the deal around London's standing as a gateway market. "Rosewood London has earned its place among the world's premier luxury hotels, distinguished by its iconic setting in one of the most important global gateway cities," he said.

Alibhai added that the purchase reflects conviction in the long-term strength and resilience of London's hospitality market, and called it a milestone in Gencom's growing relationship with Rosewood, which he described as one of the world's preeminent ultra-luxury hospitality brands.

Alessandro Colantonio, Gencom's chief investment officer, said the hotel is the kind of opportunity the firm seeks: an iconic, irreplaceable asset in a premier hospitality market with strong fundamentals. He said Gencom focuses on gateway destinations and partners with best-in-class brands to unlock value.

What is inside the hotel

The guest rooms and suites blend contemporary design with elements drawn from British heritage and London living. The living spaces are tailored to both leisure and extended-stay travellers, and the hotel's seven houses span up to 185 square metres.

One of them, the Manor House Suite, has its own independent street entrance, giving guests a private way in and out away from the main lobby. The source does not say which house is the largest.

The food and beverage offer runs across several venues. Holborn Dining Room serves modern British brasserie cuisine in a Belle Époque-inspired interior designed by Martin Brudnizki, and it too has its own street entrance onto the pavement.

The Scarfes Bar serves cocktails with regular live jazz programming. The Gin Bar carries more than 300 varieties of gin. The Mirror Room hosts afternoon tea and is the hotel's all-day dining outlet.

How the partners see it

Radha Arora, president of Rosewood Hotel Group, said Rosewood London holds a special place in the collection as one of the first openings that helped define a new era for the brand. He said the group is delighted to build on its relationship with Gencom.

Arora described Gencom as a partner who shares the brand's commitment to distinctive places and exceptional hospitality. He said Rosewood looks forward to supporting the team as they keep delivering the thoughtful, personal experiences that make the hotel memorable.

Chris Liddiard, senior director of real estate finance for hotels at HSBC UK, and Jose Minguela, senior director of hotels financing at Santander, said Gencom is an existing long-term client of Santander. Rosewood London's owner is also a long-term HSBC client, they said.

The lenders called the hotel one of London's most prestigious five-star properties. They said the financing will support a focused CapEx plan to further enhance the asset, though no timeline or budget for the work has been published.

Rosewood Hotels & Resorts operates high-end hotels and resorts worldwide, and each property is meant to reflect the culture and heritage of its location. London is the brand's home-market flagship for Gencom, whose other Rosewood asset is in Bermuda.

Neither Gencom nor Rosewood has put a number on the value-creation potential Colantonio referred to. The lender line about a CapEx programme is the only concrete indication of what may change at the hotel.

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