June 14th, 2019
GERALD EVE STRENGTHENS DEVELOPMENT TEAM WITH DOUBLE HIRE
A five-star service for Gerald Eve awards Marriott a premium
Marriott International, the global hotels group, encompasses 19 different brands and 4,200 properties in 79 countries and territories.
Marriott Hotels & Resorts is the company’s flagship brand, with 550 hotels worldwide and 50 of these in the UK as well as other properties – the largest share of the portfolio after the US.
Gerald Eve currently represents a total of 56 Marriott International properties across the UK. The portfolio, which includes hotels on Park Lane and at County Hall, next to the London Eye, has a total current rateable value of £59m, and our vigilance over its business rates charges has saved Marriott a total of £14.4m so far in this rating list (ie. from 2010 to 2015).
Some of the biggest savings have been achieved at the Grosvenor House Hotel on London’s Park Lane. The five-star hotel, which has hosted royalty, political leaders and celebrities since opening in 1929, includes nearly 494 guest rooms, palatial suites, two restaurants and a champagne bar. It is well-known to us: we were appointed in 1995 by the then-owners, Meridien, to provide the hotel with business rates advice.
In 2008, Grosvenor House became part of the global JW Marriott chain of luxury hotels, and in the 2010 Revaluation its original rateable value was put at £8.28m. We were successful having that figure revised downwards by 9.5% to £7.49m, and saving Marriott £380,000 in rates charges every year, at a single hotel.