LONDON-The Ascott Limited, a business unit of CapitaLand, has inked a deal to purchase The Cavendish London, a 230-unit hotel in London, for GBP 158.8 million. Ascott will manage the hotel in Q4 2012.
The company will transform the hotel into a serviced residence under the Ascott The Residence brand and will rename the property as Ascott St James London. The Cavendish London is situated on Jermyn Street. It includes five meeting rooms for business travelers. For the full story, go to Europe Real Estate .
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