Heeton Holdings and Ryobi Kiso Holdings said that their joint venture company, Chatteris Developments, had completed the purchase of the entire share capital of Woodley Hotels (Kensington) for $48 million.
Woodley Hotels is the legal and beneficial owner of Enterprise Hotel, located in the borough of Kensington, London.
Currently, Enterprise Hotel comprises 100 hotel rooms and Chatteris will be looking into refurbishing it to accommodate up to 120 hotel rooms.
Located at Hogarth Road, Enterprise Hotel is only a few minutes' walk away from Earl's Court Exhibition Centre, with the great museums of South Kensington also nearby.
Being strategically located and with the upcoming additional rooms, the companies believe that Enterprise Hotel will have a positive effect on the joint venture's revenue in the years ahead.