London-based hotels operator Signature Hotels has been acquired by Zurich-based hotel management company Grand Metropolitan Hotels for an undisclosed amount.
Signature Hotels currently operates boutique and upper-midscale properties across London, with two additional properties set to open during the next twelve months.
Through this takeover, Grand Metropolitan Hotels expands its reach within London’s upscale hotel segment while extending into one of the world’s fastest-growing hospitality markets, India, where Signature has two properties under development.
Ramesh Arora, current CEO of Signature Hotels group, will be retained as Supervisory Board Member for the Grand Metropolitan Hotels.Grand Metropolitan Hotels will integrate
Signature Hotels’ operational and management teams into its existing structure while The Signature Hotels brand will remain part of the GMH portfolio and will be further developed as a boutique lifestyle label.
Martin R. Smura, founder and chairman of Grand Metropolitan Hotels, said: “Signature Hotels offers a powerful combination of local credibility and international ambition. London remains one of the most competitive hospitality markets in the world, and Signature’s operational strength, coupled with its ties to India, provides GMH with an immediate and meaningful platform for growth.”
Arora added: “This partnership brings together two family businesses with aligned values and a shared belief in hospitality as a force for good. By joining GMH, we strengthen our ability to grow internationally while staying true to our purpose of delivering authentic, locally inspired experiences.”
