Starwood Capital Group, a leading global private investment firm, has announced that it will launch Principal, a new urban lifestyle hotel group, on Nov. 1, 2016, following a capital investment in the portfolio of approximately £150 million.
Principal is a collection of city-center hotels based in landmark buildings in exceptional locations across the United Kingdom. The distinctive heritage and resulting relationship between the properties and their surroundings are the cornerstones of the Principal brand. Each of the hotels has a story to tell—of its history, its design and architecture, its quirks and characters, and its role in shaping the city and forging relationships with local partners, whether corporate or creative. From the elegant Georgian townhouses that form the core of The Principal Edinburgh George Street (formerly The George Hotel) to the clock tower that’s synonymous with The Principal Manchester (formerly The Palace Hotel) and its history as the headquarters for the Refuge Assurance Company— Principal Hotels define their cities and neighbourhoods.
“At the heart of a great business is a unique and authentic story. Our people and our buildings have great stories to tell, and these stories differentiate you from the competition, giving your guests and your staff something to cheer about,” said Barry Sternlicht, Chairman and CEO of Starwood Capital Group. “Reviving these historic, grande-dame hotels is a truly great story— they are spectacular buildings in which we can create dynamic scenes. The story of each hotel, its amazing history and architecture is the opposite of the mass-produced chain hotel, and provides us with a canvas on which to curate a unique sense of place.”
At the core of every Principal Hotel is a brilliant bar and restaurant that resonates with “locals” as much as i t does with hotel guests. Other touch points will include vintage letterboxes in each lobby; a “corner shop” selling treats to stock the mini bar and essentials that guests might have left behind; a tuck box of complimentary snacks, as well as fresh milk and mineral water in the mini bar; and a fully-fledged Concierge to guide guests to hidden gems and must-see attractions alike.
