THE Integrity International Group, led by British Asian hotelier Tony Matharu, has acquired two properties in London - Atlas House and Crescent buildings for an undisclosed amount.
Atlas House, a Grade II-listed building, is situated at the junction of King Street, Queen Street, and Cheapside, while the Crescent is located adjacent to Tower Suites by Blue Orchid Hotels.
Both Atlas House and the Crescent will join the Blue Orchid Hospitality brand, part of Integrity, the group said in a statement.
Meanwhile, the company recently restructured its Garage Hotels Group, the statement said.
“The recent acquisition of Atlas House and the Crescent portfolio demonstrates our continued commitment to invest in and breathe new life into London property, particularly those buildings at the end of their previous lives, ensuring that London remains the best place to live, work, visit, and invest,” Matharu said.
“The team at Integrity International Group has unrivalled expertise in acquiring, developing and operating first-class hospitality facilities.”
The two properties will be added to the group’s portfolio, which includes luxury hotels, apartments, suites, residences, and venues, the statement said. These include the Westminster-based Wellington and Rochester hotels; Tower Suites and Tower Residences; as well as 55 Broadway, a Grade I-listed building set to be repurposed into a 526-room hotel in St James’s Park.
Prior to establishing Integrity International Group, Matharu was the founder of Grange Hotels which he ran as group managing director until its key London sites were sold to Jurys Inn (now Leonardo Hotels) in 2019, according to Integrity. Matharu has delivered over 2,500 hotel rooms and facilitated the creation of 1,750 jobs throughout London.
In January, Starwood Capital Group, a US-based private equity firm, acquired 10 Radisson Blu Edwardian properties in London, totaling 2,053 rooms, from Edwardian Hotels London, a UK hospitality group chaired by Jasminder Singh.
Matharu was ranked 23rd in the Asian Rich List 2023 published by Asian Media Group with an estimated wealth of £630 million.
