Tue, 05 Oct 2010 | BUSINESS SALE
London's Blakes Hotel has been bought in a deal worth £20 million, financed by Barclays Corporate.
Leisure entrepreneurs Meir Abutbul and Navid Mirtorabi are the new owners and have plans to draft in Blakes Hotel’s founder Anouska Hempel to head a £2.5 million renovation project. Future aims include expanding the Blakes Hotel brand internationally.
Nick Worthington of Barclays Corporate commented on the deal, “The London boutique sector continues to perform very strongly, and the opportunity that an expansion of Blakes presents is a compelling one.”
The fashionable London hotel has been frequented by the likes of Princess Margaret, Diana Ross and Sadie Frost in the past. The 51-bedroom hotel was established in 1981 as one of the first boutique hotels in the world.
GuestInvest bought Blakes in 2007, and plans to convert the hotel to the firm’s model never materialised before it entered administration in 2008.
Mr Mirtorabi and Mr Abutbul already own several London hotels between them. Abutbul is also the founder of the patisserie chain Apostrophe.
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