City Developments (CDL), through its wholly-owned subsidiary, Copthorne Hotel Holdings, has completed the acquisition of Holiday Inn London - Kensington High Street for GBP280 million ($480.2 million), or GBP396,600 per room for the hotel’s 706 rooms.
The hotel, sited on freehold land, is located just two minutes within walking distance of Kensington High Street, which is known for its upmarket boutiques, department stores, restaurants and cafes, as well as access to various historical and cultural landmarks including Kensington Palace.
The hotel is also close to Imperial College and the Museum Quarter and is a 15-minute walk from Olympia London.
According to CDL, the hotel has achieved high occupancy rates of over 97% for the nine months to September 2025 and has consistently outperformed its competitive set in recent years.
The hotel’s revenue for the preceding 12 months exceeded GBP39 million and is expected to generate a running yield of over 6%.
With the acquisition, CDL will have over 3,000 hotel rooms in Central London. Its portfolio already includes the 307-room The Biltmore Mayfair, the 222-room Millennium Hotel London Knightsbridge and the 611-room Millennium Gloucester Hotel London.
See also: URA announces nine new sites under Confirmed List in 1H2026 GLS programme
“This is a once-in-a-lifetime chance to secure an ultra-prime freehold site in Central London,” says CDL’s executive chairman Kwek Leng Beng.
“Freehold sites in this location are exceptionally scarce, and it is even rarer to find one directly adjacent to our Copthorne Tara hotel,” he adds. “With this acquisition, the group will now own two of the largest freehold sites in London’s most affluent Royal Borough of Kensington and Chelsea.”
As at 12.30pm, shares in CDL are trading 6 cents higher or 0.83% up at $7.26.
