Developers of Bulgari Hotel in London could open second hotel in London operated by Armani
Prime Development Ltd, controlled by a group of investors led by Spanish entrepreneur Rafael Serrano, which developed the Bulgari Hotel & Residences in London – a brand new construction steps from the Harrrods Department Store, is said to be in advanced discussions with local authorities to turn the iconic Admirality Arch in London into an ultra luxury hotel of up to 100 rooms and suites. The price tag to acquire the building is estimated at GBP 75 million.
British media reports that the developers are considering several operators, including Armani Hotels. A joint venture between Giorgio Armani SpA and UAE based Emaar, Armani Hotels could not only manage but also invest in the new project. The investment for the extensive renovations and restorations could exceed GBP 100 million, without considering the fit-out.