Royal Group plans luxury hotel in London’s Mayfair

Billionaire Asok Kumar Hiranandani's Royal Group is planning to open its first hotel in London. The company has purchased the former Westminster Bank building in Mayfair for £65 million (about $85 million). They will invest an additional £45 million ($58 million) to convert it into a luxury boutique hotel with 50 suites. Hiranandani sees London as a prime travel destination and is eager to tap into the growing tourism market. In 2024, tourist arrivals in London saw a significant increase. The hotel design will be handled by Ritchie Design Partners, with completion expected by late 2026. Guests might pay up to £1,000 per night for a room, similar to rates at the Ritz London. Royal Group is also working on another hotel project in Singapore called Casa Mett. This hotel will have 165 rooms and is being constructed at a cost of about S$100 million ($74 million) on Cuscaden Road. It will feature a unique blade-shaped design and is scheduled to open in early 2027. Hiranandani believes that both Singapore and London have thriving hotel markets. Singapore is preparing for a surge in tourist numbers, especially with the upcoming opening of Terminal 5 at Changi Airport, which can handle an additional 50 million passengers annually. With a net worth of $1.7 billion, Hiranandani is among Singapore’s wealthiest individuals. His company owns various properties in Singapore and Malaysia, aiming to capitalize on the increase in global travel.