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Mar 24, 2006
Global Hyatt Corporation and JER Partners has announced the closing of the purchase of London's Great Eastern Hotel from Conran Holdings and the Blackstone Group for £150 million. The joint acquisition between Global Hyatt and JER was announced in mid-February 2006.
The historic, 267-room Great Eastern Hotel sits adjacent to Liverpool Street Station. Originally opened in two phases in 1884 and 1901 respectively, the stunning Victorian hotel was fully renovated and reopened in February 2000. Today, it boasts five restaurants, four bars and 12 private dining and event rooms.
Upon closing the purchase, Hyatt assumed management of the Great Eastern Hotel's operations. The hotel will continue to operate as the Great Eastern Hotel through December 31, 2006 and, in January 2007, will be rebranded under the Hyatt Regency name.
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