Discover how Singapore’s Royal Group is investing £110m to transform a historic Mayfair site into a luxury 50-suite boutique hotel, joining London’s booming ultra-luxe scene.
Led by Singapore billionaire Asok Kumar Hiranandani, has made a grand entrance into London’s competitive luxury hotel market by purchasing the former Westminster Bank building on Piccadilly in Mayfair. Acquired for £65 million last month, the property is set to undergo a £45 million transformation into an opulent 50-suite boutique hotel. The total investment stands at £110 million (approximately S$143 million).
UK architects Ritchie Design Partners have been appointed to reimagine the building, with plans for the hotel to debut by the end of 2026. Hiranandani, who has sought opportunities in London for over a decade, expressed his excitement, noting, “London’s tourist arrivals are growing like crazy.”
This new addition to the capital’s ultra-luxe hotel scene will charge a minimum of £1,000 per night for entry-level suites, rivalling renowned establishments such as The Peninsula London and the Mandarin Oriental Mayfair. The city is already set to welcome a wave of high-end openings, including The Chancery Rosewood and debut UK locations for Six Senses and Auberge Resorts Collection.
Hiranandani’s Royal Group boasts a portfolio of prestigious properties, including the Sofitel Sentosa Resort in Singapore and the DoubleTree by Hilton in Kuala Lumpur. His net worth exceeds £1 billion, placing him 28th on Singapore’s 50 Richest list last September.