Despite the economic downturn, a new luxury hotel group, Guoman Hotels, is investing in London and Asian hotels and is opening new properties in Asia in 2009. Spokesmen for the chain said the launch and rebranding of Guoman Hotels features approximately $273 million in renovations and rebranding of properties.
Investments are being made in a number of properties, including: $30 million renovation of The Royal Horseguards Hotel in London to become a five-star property; $13 million renovation of The Tower Hotel situated in the financial heart of the city beside The Tower of London and Tower Bridge; and a $12.3 million renovation of two historic railroad hotels, The Charing Cross and The Grosvenor, beside Victoria Station.
Also reported is a recently completed redesign of The Cumberland Hotel into a stylish, trendy spot for business and leisure travelers in the heart of London, and the conversion of property at Heathrow Airport (near the new Terminal 3) to become a Guoman hotel.
Future renovation of the art-deco style Marble Arch Hotel is planned as is introduction of signature Guoman products including The Guoman Bed and Michelin-quality restaurants at its hotels. Next year, Guoman Hotels will open a 460-room deluxe hotel as part of a mixed-use project in Beijing and a 360-bedroom hotel in Shanghai.