Manuel Lao, through Nortia, expands his alliance with Gencom after acquiring one of London's most exclusive hotels for over 350 million.
Nortia, Manuel Lao’s investment vehicle, is raising its bet on the luxury hotel sector and expanding its alliance with the American investment firm Gencom, alongside which it has purchased the Rosewood London, one of the city’s most exclusive establishments.
Located in Midtown, between Covent Garden and the City of London, the acquisition of this hotel—in which other investors also participated—was closed for an amount exceeding 300 million pounds (around 355 million euros at current exchange rates), according to market sources reporting to EXPANSIÓN.
The Rosewood London features 308 rooms and occupies a historic building constructed in 1912. Previously, this hotel was owned by the investment firm CTF Development, led by the Hong Kong-based Cheng family.
Following a comprehensive renovation that involved an investment of 85 million pounds, the Rosewood London opened its doors in 2013.