Starwood to Pay £800 Million for London Hotel Portfolio (1)

Starwood Capital Group LLC has agreed to buy a portfolio of London hotels for about £800 million ($1 billion), people with knowledge of the matter said.

The private equity firm will buy the properties from Edwardian Hotels, Starwood said in a press release confirming an earlier report by Bloomberg News, without disclosing the price. The 10 hotels operate under the Radisson Blu Edwardian brand and are concentrated in London’s West End districts in locations including Covent Garden, Kensington and on Oxford Street.

Edwardian Hotels will retain its five-star properties in Mayfair, Leicester Square and Manchester under the terms of ...