American and British Investors Acquire London's St. Ermin's Hotel

LONDON, May 10 /PRNewswire/ -- A group of investors including American hotel turnaround specialist Amerimar Enterprises, has acquired the Jolly St. Ermin's hotel in London from N-H Hotels for GBP65 million. Work will begin as soon as all approvals are obtained, to completely transform the Westminster property into a classically elegant, four-star deluxe hotel with contemporary sensibilities. The new St. Ermins will target business and leisure travelers from Europe, the U.S. and around the world.

"The new St. Ermin's will be a premier intimate, independent hotel in the heart of London's political, business and cultural center," said Jon Cummins, Chief Operating Officer of Amerimar. He concluded, "We are eager to introduce a new brand of uniquely elegant luxury to the heart of London, a leading destination for leisure as well as business travelers, offering a complete package of first-class meeting services and amenities sought by corporate meeting planners."

The refurbishment will include a complete updating and renovation of the hotel's entry, guest rooms and public spaces; the addition of new technologies and updated guest amenities, and the introduction of a new concept for the hotel's restaurant and catering operations.

Location, Location, Location

The St. Ermin's hotel is situated on a quiet corner of Westminster, yet at the hub of activity in the center of London; it is located at Caxton Street and Broadway, just off Victoria Street. It is within easy walking distance of Parliament Square, the London Eye, Westminster Abbey, Houses of Parliament, numerous businesses and governmental ministries, Buckingham Palace, St. James Park, The Green Park, Piccadilly, and Queen Elisabeth II Conference Center.

The St. Ermins is a historically meaningful structure, originally constructed as mansion flats on the site of a 15th century monastery. In the early 1900s, the structure was converted to the St. Ermins hotel.

The 275-bedroom hotel offers meeting space totaling 938 m2 (10,100 square feet). After the refurbishment, the hotel will offer a full suite of luxury amenities and services, including over 50 suites, a fine dining restaurant, 24-hour room service, in-room internet access, and more.

The anticipated renovation will be dramatic and all-encompassing, accentuating the property's grand sense of place, while adding contemporary features and themes that resonate with today's sophisticated international traveler.

Style and Sustainability

The renovation will allow St. Ermin's to introduce green elements including: sustainable woods in the furnishings, recycled content in the carpets and textiles, energy efficient lighting and cooling systems, sustainable seafood & locally grown organics in the restaurant and catering, on-site water filtration to replace plastic bottles, and a program of recycling cardboard, paper, plastic and glass.

Amerimar's Hutton Hotel, based in Nashville, Tennessee, has received national acclaim for its green and sustainable features, making it a recognized leader in sustainable hotel development and operations.

ABOUT AMERIMAR

Amerimar has a 20 year track record creating and operating unique and successful hotel projects.  Recent projects include The Hutton Hotel (Nashville Tennessee), The Hotel George (Washington DC) and the Hotel Derek (Houston, Texas). 

Amerimar's focus is on creating, designing, branding and operating profitable hotels with distinct points of differentiation.  In a world of increasing commoditization, Amerimar creates truly unique, memorable and successful projects to which customers respond. Amerimar has also emerged as a leader in green hotel development.

Amerimar's hotels include some of the finest, most distinctive independent luxury properties in the U.S. Most recently, Nashville's Hutton Hotel, was named to Conde Nast Traveler's 2010 Hot List of best luxury hotels worldwide.

The Hotel George, created by Amerimar in 1999, was Washington D.C.'s first boutique hotel and was part of Preferred Hotels and Resorts, as was the Hotel Derek, which was a Hot List winner in 2002.

ABOUT ANGELO, GORDON & Co. (www.angelogordon.com)

Angelo, Gordon & Co. was founded in 1988 and has approximately $21.0 billion under management. Currently, the firm's investment disciplines encompass four principal areas: (i) distressed debt and leveraged loans, (ii) real estate equity and debt, (iii) private equity and (iv) multi-strategy.  Angelo, Gordon & Co. employs approximately 200 professionals and is headquartered in New York, with associated offices in Los Angeles, Chicago, London, Amsterdam, Hong Kong, Seoul, and Tokyo.  The firm partners with real estate operating companies to purchase real estate and debt.

ABOUT GRACEMARK

GraceMark is a real estate company established in 1999 which focuses on the development and active management of commercial and residential buildings in Central London. It has successfully completed projects with a value in excess of GBP350 million.  Recent notable London projects include the new offices for The House of Commons at Tothill Street and European private equity firm Permira at Pall Mall.

GraceMark is headed by two directors with more than 45 years of direct involvement in the UK commercial real estate markets.  Their understanding and firsthand experience in a wide range of disciplines, including all aspects of development, investment and finance, mean that they are well positioned to identify the best performing opportunities and to execute complex management strategies.

SOURCE Amerimar Enterprises