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UK: Conglomerate AMTD has acquired the Dao by Dorsett North London aparthotel for £23 million, with plans to acquire the Hornsey Town Hall for £25 million.
Located in Crouch End, the Dao by Dorsett North London aparthotel is housed within the restored Grade II-listed Hornsey Town Hall complex. The hotel comprises 68 serviced apartments and hotel rooms, including a mix of studios and suites.
Following completion of the acquisition, the hotel will be renamed AMTD Dao by Dorsett Hornsey. It will become AMTD’s fifth branded hotel alongside AMTD hotels in Hong Kong, New York, Singapore, and Malaysia.
AMTD – which includes the AMTD Group, AMTD IDEA Group, AMTD Digital Inc, and The Generation Essentials Group – said the acquisition was completed without utilising any external financing, including the £24 million term loan facility made available to AMTD IDEA relating to the hotel transaction.
In addition to the hotel, AMTD IDEA has also agreed to acquire the Hornsey Town Hall for £25 million. It features an assembly hall, council chamber, committee room, rooftop bar, cinema, town hall square, and a variety of flexible event spaces and workspaces.
Following the acquisition, AMTD plans to leverage its network as a fashion and art media company to introduce and connect art festivals and other cultural initiatives to the town hall.
The closing of the transaction is subject to customary closing conditions and is expected to take place “in the near future”.
Highlights:
- AMTD has acquired Dao by Dorsett Hornsey Hotel in London’s Crouch End for £23 million, with plans for a parallel £25 million Hornsey Town Hall acquisition.
- The 68-unit Dao by Dorsett Hornsey Hotel, located within the restored Grade II-listed Hornsey Town Hall complex, will be renamed AMTD Dao by Dorsett Hornsey.
- Hornsey Town Hall asset includes assembly hall, council chamber, rooftop bar, cinema and flexible event and workspace facilities targeted for cultural programming.
- AMTD plans to leverage its global hospitality portfolio across Hong Kong, New York, Singapore and Malaysia to integrate cultural and art-led initiatives into the London site.
