Manuel Lao (Nortia) accelerates in hotels with the purchase of Rosewood in London
Manuel Lao, through Nortia, expands his alliance with Gencom after acquiring one of London's most exclusive hotels for more than 350 million.
Manuel Lao's investment vehicle, Nortia, has expanded its alliance with US investment firm Gencom by purchasing the Rosewood London hotel, one of London's most exclusive hotels, for over €355 million. The hotel, located in Midtown between Covent Garden and the City of London, has 308 rooms and is housed in a historic building constructed in 1912.
Nortia and Gencom previously invested in the InterContinental Miami and The Ritz-Carlton Central Park in New York, with the three assets valued at around €1 billion. The acquisition of Rosewood London follows a renovation that cost £85 million and was completed in 2013.
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