GuocoLeisure puts west London hotel up for sale

It has appointed JLL to assist with the sale.

The hospitality firm is bound for a huge payday as it sells Thistle Kensington Gardens Hotel, given its prime location and redevelopment potential.

According to a report RHB Research, the 175-room hotel was highlighted as one of the two hotels in GuocoLeisure’s portfolio with a notable redevelopment potential in an independent valuation report by Christie + Co two years ago.

Meanwhile, GuocoLeisure is also reviewing its plans for its mega hotel, the 800-room Tower Hotel, whether to push for refurbishment or consider a redevelopment.

“We expect the group to review its other non-core assets this FY (Clermont Club casino license, Molokai property interest and Bass Straits oil royalty),” RHB Research said.