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NEWS
London’s BT Tower to become luxury hotel following £275m deal
POSTED 21 Feb 2024 . BY Megan Whitby
The tower is one of the most recognisable landmarks in the London skyline Credit: BT Group
London's iconic BT Tower is going to be transformed into a luxury hotel after being sold to MCR Hotels
MCR acquired the 620ft Fitzrovia property from BT Group following a £275 million deal (US$347 million, €321.3 million)
The Tower deal forms part of BT's simplification of its property portfolio
MCR will work with London-based design firm Heatherwick Studios to realise the new hotel
British telecommunications company BT Group has sold its iconic BT Tower for £275 million (US$347 million, €321.3 million) to hotel management company MCR Hotels.

The 620ft telecommunications building opened in 1964 and was once the tallest structure in London until 1980 when it was surpassed by the NatWest Tower.

MCR – claimed to be the US’ third-largest hotel owner-operator – plans to transform the Grade II listed London landmark into a hotel.

Brent Mathews, property director of BT Group, said: “The BT Tower sits at the heart of London and we’ve been immensely proud to be the owners of this important landmark since 1984.

“It’s played a vital role in carrying the nation’s calls, messages and TV signals, but increasingly we’re delivering content and communication via other means. This deal with MCR will enable BT Tower to take on a new purpose, preserving this iconic building for decades to come.”

Payment for the sale will be made over multiple years, as BT equipment is progressively removed from the 37-floor building, with final payment on completion of the purchase.

The company will take several years to vacate the premises, due to the scale and complexity of the work to move technical equipment.

MCR will partner with London-based architecture and design firm Heatherwick Studio to consider how best to reimagine the building’s use as a hotel.

The company owns 150 US hotels including the TWA Hotel, The High Line Hotel and Gramercy Park Tavern in New York City.

Tyler Morse, CEO and owner of MCR, said: “We’re proud to preserve this beloved building and will work to develop proposals to tell its story as an iconic hotel, opening its doors for generations to enjoy.”

Credit: Shutterstock/Aerial-motion
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Uniting the world of spa & wellness
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News   Products   Magazine   Subscribe
NEWS
London’s BT Tower to become luxury hotel following £275m deal
POSTED 21 Feb 2024 . BY Megan Whitby
The tower is one of the most recognisable landmarks in the London skyline Credit: BT Group
London's iconic BT Tower is going to be transformed into a luxury hotel after being sold to MCR Hotels
MCR acquired the 620ft Fitzrovia property from BT Group following a £275 million deal (US$347 million, €321.3 million)
The Tower deal forms part of BT's simplification of its property portfolio
MCR will work with London-based design firm Heatherwick Studios to realise the new hotel
British telecommunications company BT Group has sold its iconic BT Tower for £275 million (US$347 million, €321.3 million) to hotel management company MCR Hotels.

The 620ft telecommunications building opened in 1964 and was once the tallest structure in London until 1980 when it was surpassed by the NatWest Tower.

MCR – claimed to be the US’ third-largest hotel owner-operator – plans to transform the Grade II listed London landmark into a hotel.

Brent Mathews, property director of BT Group, said: “The BT Tower sits at the heart of London and we’ve been immensely proud to be the owners of this important landmark since 1984.

“It’s played a vital role in carrying the nation’s calls, messages and TV signals, but increasingly we’re delivering content and communication via other means. This deal with MCR will enable BT Tower to take on a new purpose, preserving this iconic building for decades to come.”

Payment for the sale will be made over multiple years, as BT equipment is progressively removed from the 37-floor building, with final payment on completion of the purchase.

The company will take several years to vacate the premises, due to the scale and complexity of the work to move technical equipment.

MCR will partner with London-based architecture and design firm Heatherwick Studio to consider how best to reimagine the building’s use as a hotel.

The company owns 150 US hotels including the TWA Hotel, The High Line Hotel and Gramercy Park Tavern in New York City.

Tyler Morse, CEO and owner of MCR, said: “We’re proud to preserve this beloved building and will work to develop proposals to tell its story as an iconic hotel, opening its doors for generations to enjoy.”

Credit: Shutterstock/Aerial-motion
MORE NEWS
QC New York to unveil 15,000sq ft multimillion-dollar expansion in July
QC New York, a luxury Italian day spa on Governors Island, will expand its offering this July by adding an extra 15,000sq ft of space. This new area will feature sensory saunas, waterfalls, a salt room, an ice room, a lavender room, a 142-seat bistro and a waterbed relaxation room.
Wellness real estate market booming – forecast to reach $913bn by 2028, reports GWI
The Global Wellness Institute (GWI) has released promising new research on the wellness real estate market at its third-annual Wellness Real Estate & Communities Symposium in Manhattan.
Banyan Group appoints Paul Hawco to spearhead wellness strategy
Paul Hawco, a seasoned figure in the international wellness industry, has assumed the role of executive director – integrated wellbeing at independent, hospitality group Banyan Group.
Ritz-Carlton Reynolds, Lake Oconee, unveils new-look lakeside destination spa
The Ritz-Carlton Reynolds, Lake Oconee in the southeastern US state of Georgia is celebrating a new milestone after unveiling its newly renovated 27,000sq ft destination spa.
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The Ravenala Attitude Hotel, Mauritius
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Large Hall of the Chamber of Commerce (Erbprinzenpalais), Wiesbaden, Germany
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ADVERTISE . CONTACT US

Leisure Media
Tel: +44 (0)1462 431385

©Cybertrek 2024

ABOUT LEISURE MEDIA
LEISURE MEDIA MAGAZINES
LEISURE MEDIA HANDBOOKS
LEISURE MEDIA WEBSITES
LEISURE MEDIA PRODUCT SEARCH
PRINT SUBSCRIPTIONS
FREE DIGITAL SUBSCRIPTIONS