Italian luxury hotel chain acquires the Gore and Pelham hotels

KPMG’s Corporate Finance practice has advised the owners of The Gore Hotel and The Pelham Hotel on a sale to Starhotels S.p.A.

The Gore and The Pelham are two leading boutique townhouse hotels located in Kensington, West London. The 5* Pelham has 51 bedrooms and is situated in South Kensington, while the 4* deluxe Gore has 50 rooms and is the closest hotel to the Royal Albert Hall, Kensington. The two hotels were owned by Con Ring and other private shareholders.

Starhotels is a family-owned Italian luxury hotel group with 22 hotels, including 5 prestigious Collezione hotels, located in exclusive destinations throughout Italy, Paris and New York. Each hotel reflects the spirit of the city and the Italian love of art, culture and gastronomy.

The acquisition of the Gore and Pelham mark its first entry into the rapidly-expanding London hotel and hospitality sector.

Con Ring said: “We are delighted to have sold the Gore and Pelham to Starhotels, as they complement perfectly the existing Starhotels portfolio of high quality luxury hotels. We have no doubt that Starhotels will continue to be great custodians of them.”

Neil Meredith, head of hotel and hospitality MA at KPMG, said: “From the outset, there was a lot of interest from international buyers and investors, resulting in a highly competitive sales process which achieved a price in excess of £43million. The deal further demonstrates the continuing strong appetite from overseas for well-located real estate in central London.”