Shiva Hotels buys London's Kingsway Hall Hotel

George Sell By George Sell
19 October 2014 | Updated 19 October 2014

UK: Cola Holdings has sold the Kingsway Hall Hotel in London to Shiva Hotels.

UK: Cola Holdings has sold the Kingsway Hall Hotel in London to Shiva Hotels.

Shiva now has more than 2,000 rooms under operation or development in London, and is targeting more.

Rishi Sachdev, managing director of Shiva Hotels said: "We realised we had stiff competition given the quality of this asset. We plan to carry out a major refurbishment of the property and increase bedroom numbers. We are very excited by the potential to re-brand and re-position this hotel in the market. Cola Holdings were very straight forward to deal with and this enabled us to meet a very tight timeframe to complete the purchase."
 
Azad Cola, managing director of Cola Holdings Limited, said: "Ever since we opened Kingsway Hall in 1999 the hotel has been a tremendous success. We had many approaches from both UK and international buyers. It was difficult to choose which party to engage with. We obtained planning permission two weeks ago to add an additional 20 rooms to the hotel which will release future potential from the property. This transaction has been a major milestone for me since taking over operations  from my father in 2005 and I am very proud of the staff and wish Shiva every success with the future of the hotel."
 
Savills advised Cola Holdings Limited, while Gerard Nolan and Partners advised Shiva Hotels.

www.kingswayhall.co.uk

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