Chrysos Hotel purchased by Touriste Collection

Eloise Hanson Eloise Hanson Uploaded 16 April 2020

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UK: Christie & Co has completed the sale of Chrysos Hotel in Paddington, London, to French hotel group Touriste Collection in excess of the guide price.

Established over 25 years ago, the hotel operates from converted Georgian properties on Norfolk Square. 

Previous owners, the Souglis family, originally acquired one building before purchasing the neighbouring property a decade later.

Touriste Collection, first established in Paris in 2008, is looking to expand its portfolio in the UK market. The group plan to upgrade and modernise the hotel, as well as increase the number of rooms.

Andrew Evangelou, director at Christie & Co, said: “From the outset, the hotel generated tremendous interest from both UK and overseas buyers. Paddington has always been a popular area amongst hoteliers, however it has seen a high increase in demand for assets of this size of late, as the whole area is being extensively developed.”

Jeremy Jones, head of brokerage for hotels at Christie & Co, said: “We had a whole range of competitive interest in the Chrysos Hotel from both domestic and overseas buyers. Despite the very real market challenges at the moment, we are delighted to announce this important sale which underlines the continued global appeal for London hotels.”

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