London’s biggest deal since 2021

LONDON – Spain’s RIU Hotels & Resorts has set a benchmark for 2026 London hotel deals with the £290 million (£587,000 per key) freehold acquisition of the 464-room The Westminster, Curio Collection by Hilton, according to deal broker JLL. The deal is the biggest single-asset transaction in London since 2021.

The central London hotel sold by a consortium including Westmont, BHP & PPF and has been rebranded as the Hotel Riu Plaza London The Westminster. The consortium acquired the property in 2018 for £187.5 and the new deal signals London’s continued market resilience on the global stage.

RIU, managing 50,000-plus keys globally, will terminate the Hilton franchise and take full operational control of this premium asset.

This marks RIU’s second hotel in London after it opened Riu Plaza London Victoria in 2023.

Originally built in 2003, The Westminster underwent a complete renovation in 2021, at which point it joined the Curio Collection by Hilton. Following RIU’s acquisition, it has become part of the chain’s RIU Plaza portfolio of city hotels. Thanks to the recent refurbishment, the hotel will not require major adaptation works, according to RIU.

The Hotel Riu Plaza London The Westminster becomes the 13th property in RIU’s urban portfolio, joining those in Panama, Guadalajara (México), Madrid, Miami, Chicago, San Francisco, New York, Berlin, London, Dublin and Toronto.

RIU said it continues to focus on expanding in the world’s major cities and is currently building its third hotel in New York while continuing to explore new opportunities in Europe’s major capitals.