According to Laurence Geller, CEO, Strategic Hotel Capital, "Thesale is in line with our stated goals of selling assets that wefeel are not in keeping with our long-term strategic objectives."The firm will continue to focus on luxury properties in majorEuropean, Asian and U.S. cities.
Robert Seabrook, senior vice president, Jones Lang LaSallehotels, acted on behalf of Strategic Hotel Capital in the sale. Thesale "represents the largest transaction in the London market thisyear," according to SeabrookÕs statistics.
The St. Ermin is a historic four-store hotel in the heart of theWestminster tourist district in central London. It contains tworestaurants, three lounges and about14,000 sf of meeting andbanquet space.
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