Singapore’s Kwek Leng Beng Expands CDL’s Presence with Three Hundred Seventy Million USD Acquisition of Holiday Inn London Kensington, Near Hyde Park and Royal Albert Hall

Published on December 3, 2025

In a landmark deal that underscores the growing influence of City Developments Limited (CDL), a subsidiary of Singapore’s second-richest billionaire Kwek Leng Beng, the Holiday Inn London – Kensington High Street has been acquired for £280 million ($370 million). This strategic acquisition of the iconic hotel, which boasts a prime location near London’s cultural landmarks, further expands CDL’s impressive footprint in the bustling hospitality sector of Central London. With over 700 rooms and a prime location just steps from the Royal Albert Hall and Kensington Palace, this acquisition is a major boost for the company’s hotel portfolio in one of the world’s most coveted real estate markets.

Key Details of the Acquisition

City Developments Limited (CDL) has successfully secured the Holiday Inn London – Kensington High Street through its wholly-owned subsidiary, Copthorne Hotel Holdings. The 706-room hotel was purchased at an approximate cost of £396,600 per room, marking a significant investment in London’s ultra-competitive hotel market. The property, spanning 6,356 square meters, is strategically located within walking distance of Kensington High Street, and offers easy access to some of London’s most iconic attractions, including Hyde Park, Kensington Palace, and the Royal Albert Hall.

The hotel has been a consistent performer, with an occupancy rate exceeding 97% in the nine months leading up to September 2025. Over the past 12 months, its total revenues surpassed £39 million, demonstrating its status as a high-demand property in one of the world’s top tourist destinations. CDL anticipates that the property will provide a running yield of more than 6%.

Expanding CDL’s Hotel Portfolio in Central London

With the addition of the Holiday Inn London Kensington, CDL’s hotel portfolio in Central London now exceeds 3,000 rooms. This move strengthens the company’s position in the city, as it already owns The Biltmore Mayfair, Millennium Gloucester Hotel London, and Copthorne Tara Hotel London Kensington. The acquisition aligns with the company’s long-term strategy to dominate the London hotel scene, further bolstering its presence in the city’s key districts.

The Holiday Inn London Kensington will not only enhance CDL’s brand value but also solidify its dominance in one of the most prestigious hotel markets in Europe. As London remains a key global tourist hub, having properties in prime locations like Kensington High Street is a powerful step toward sustained growth in the hotel sector.

A Rare Opportunity in London’s Property Market

The acquisition of the Holiday Inn in Central London is being hailed as a once-in-a-lifetime opportunity. The scarcity of freehold properties in such a prime location adds to the strategic nature of this investment. The proximity to Cultural landmarks, including Hyde Park and Kensington Palace, makes this acquisition not only financially sound but also appealing to both leisure and business travelers visiting London.

This move also provides CDL with valuable operational synergies with its existing Copthorne Tara Hotel, located nearby. The proximity of these properties allows the company to streamline operations and enhance overall service offerings in the area.

Kwek Leng Beng’s Vision for CDL

Kwek Leng Beng, the executive chairman of Hong Leong Group and CDL, has long been an advocate for strategic investments that align with the global demand for high-quality hospitality. His vision for City Developments Limited is to continually expand its global footprint, with a focus on markets like London, which represent a stable and lucrative investment environment. CDL’s acquisition of the Holiday Inn London Kensington marks another step toward building a world-class hospitality brand with a strong presence in major international cities.

In line with his strategy, Kwek has overseen a series of divestments this year, raising S$1.9 billion (US$1.46 billion) to optimize CDL’s portfolio. These moves are part of a broader effort to streamline operations while focusing on high-growth assets like the London hotel acquisition.

The Broader Impact on London’s Tourism and Hospitality Market

With London continuing to attract millions of tourists each year, properties in premium locations like Kensington High Street remain in high demand. The new ownership of the Holiday Inn London Kensington is expected to bring enhanced offerings for travelers, especially those visiting London for both leisure and business purposes. The hotel’s central location allows guests to easily access not only the city’s cultural and historic attractions but also its major business districts.

For travelers, this acquisition is a sign that CDL is committed to maintaining high standards in the hospitality sector. Whether for short-term stays or extended business trips, guests can expect top-notch facilities and services from the newly acquired property.

What Travelers Can Expect from the Holiday Inn London Kensington

Travelers can look forward to an enhanced guest experience at the Holiday Inn London Kensington, with 706 rooms equipped to meet the diverse needs of both business and leisure visitors. The hotel’s strategic location in Kensington allows easy access to cultural hubs like Hyde Park, the Royal Albert Hall, and Kensington Palace, all of which are just a short walk away. For those attending events at Olympia London, the venue is also a mere 15-minute walk from the hotel.

The Road Ahead for City Developments Limited

As CDL continues to solidify its presence in London, this acquisition highlights the company’s dedication to expanding its hotel portfolio and strengthening its position as a major player in the global hospitality market. With further growth expected in the coming years, CDL will continue to explore strategic investments in key cities worldwide, ensuring it remains at the forefront of the industry.

In conclusion, Kwek Leng Beng’s latest investment in Central London not only strengthens CDL’s hospitality portfolio but also provides an excellent opportunity for both investors and travelers looking to experience the best of London.