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A NEW hotel in London by Heeton Holdings, KSH Holdings, Lian Beng Group and Ryobi Kiso Holdings has officially commenced operations. The consortium on Wednesday announced that its 89-bedroom Luma Concept Hotel in Hammersmith, London, welcomed its first guests on April 28, 2017.
The hotel is managed by Heeton, which has an effective interest of 60 per cent in the venture; it is the firm's first Heeton-branded hotel. Meanwhile, Ryobi Kiso's subsidiary holds a 20 per cent stake in the project, while KSH and Lian Beng each hold 10 per cent.
The consortium had acquired a freehold property - originally a 42-bedroom budget hotel - in 2015 for about S$31 million. It was redeveloped into the Luma Concept Hotel using state-of-the-art construction methods, involving large building components manufactured off-site.
Heeton's chief executive Eric Teng said that the group is confident of becoming a prominent service provider in the UK hospitality market and will continue to secure opportunities to expand its portfolio, which includes four other UK hotels and two more in the pipeline.