RIU Hotels & Resorts invests EUR 250 million for UK debut

RIU Hotels & Resorts (RUI) has acquired a property in a premium area of London, which will be converted into a 4-star hotel as part of its Riu Plaza urban line.

Located in one of the city’s prime neighbourhoods — right next to Victoria Station, Westminster Cathedral and Buckingham Palace — the upcoming Riu Plaza will become the chain’s first hotel in the UK. It will be a 4-star hotel, with 350 rooms, geared mainly towards guests visiting London on sight-seeing holidays.

Following a complete refurbishment, the property will open by the end of 2020.

Luis Riu, CEO of RIU Hotels & Resorts, explained: “Location is very important for all our hotels, but for the Riu Plaza line, it is essential that we are located very close to the places of cultural and tourist interest and very well-connected.”

“An investment of around 250 million euros”

“After years spent studying the best offers in the city, we are very pleased to announce this project, for which we estimate an investment of around EUR 250 million (USD 292 mn) to cover the purchase of the building and the refurbishment. The location is unbeatable, the building is in excellent condition and I think that in less than two years we will be able to celebrate the opening of our first hotel in London.”

Constructed in the 1960s and fully renovated in 1997, the future RIU hotel will keep the structure and the best aspects of the building, but the interior will be completely transformed. According to the group, the latest technology in energy efficiency and sustainable operations will be implemented as well.

In terms of location advantages, the hotel features a direct connection to Gatwick airport in 30 minutes. Additionally, it’s within easy reach of Victoria Station, the second-busiest station in the UK, after Waterloo, with an annual footfall of more than 75 million passengers using its underground, train and bus terminals.

RIU currently has six Riu Plaza hotels in operation worldwide, as well as two undergoing construction: Riu Plaza España and another in New York. The group has a 5-year expansion plan, with a strong commitment to new destinations, especially in Asia, and large global cities where it plans to open Riu Plaza urban hotels.