Starwood Capital Group, the US-based private investment firm, has unveiled a new urban lifestyle brand, Principal, for the UK.
Launching on November 1, Principal is a collection of city-centre hotels in ‘landmark buildings’ in ‘prime locations’.
Part of an investment of around £150 million, the hotels will range from elegant Georgian townhouses to historic clock towers.
The brand will launch with three hotels – The Principal Edinburgh George Street, formerly The George Hotel, The Principal York, formerly The Royal York Hotel (pictured here), and The Principal Manchester, formerly The Palace Hotel.
The group hopes to have around a dozen hotels by 2018.
The new brand is part of Starwood Capital Group’s rebranding of its portfolio of UK hotels under the new name of The Principal Hotel Company, comprising Principal in city centres and De Vere in more rural locations.
The De Vere brand, which will be country house properties with conference facilities, is scheduled to relaunch in spring or summer 2017 following an investment of more than £50 million.
Starwood Capital was founded by Barry Sternlicht, the man who formed Starwood Hotels & Resorts, although the two companies are not connected.
The Principal Hotel Company, which owns and operates over 40 landmark buildings across UK, received an investment of more than £200 million following the acquisition of Principal Hayley by a controlled affiliate of Starwood Capital Group in 2013, and the subsequent acquisition by controlled affiliates of Starwood Capital Group of De Vere Venues, Four Pillars, the Townhouse Collection alongside some individual, strategic assets.
"At the heart of a great business is a unique and authentic story. Our people and our buildings have great stories to tell, and these stories differentiate you from the competition, giving your guests and your staff something to cheer about," said Barry Sternlicht, chairman and CEO of Starwood Capital Group.
"Reviving these historic, grande-dame hotels is a truly great story— they are spectacular buildings in which we can create dynamic scenes. The story of each hotel, its amazing history and architecture is the opposite of the mass-produced chain hotel, and provides us with a canvas on which to curate a unique sense of place."
Each hotel will have a bar and restaurant designed to appeal to locals as well as hotel guests.
They will also have vintage letterboxes in each lobby and a ‘corner shop’ selling treats to stock the mini bar and essentials.
