London-based luxury hotel group The Dorchester Collection has added hotels in New York and Los Angeles to its portfolio as part of major expansion plans for the business.
The company, which owns and manages The Dorchester in London, announced today it has taken over The New York Palace in New York and the Hotel Bel-Air in Los Angeles.
Christopher Cowdray Chief Executive of Dorchester Collection said: "We have ambitious plans for growth and are targeting 15 hotels in key North American and European cities in the next five to 10 years. To have secured such landmark hotels in the gateway cities of New York and Los Angeles is of tremendous benefit to our portfolio.”
Cowdray said the purchase would be followed by major investment in both hotels. Plans include a three-year refurbishment of the New York Palace and a newly designed restaurant, the addition of a Wine Terrace and the building of a US$6m spa at the Hotel Bel-Air.
The Dorchester Collection also owns and managers The Beverly Hills Hotel in Beverly Hills, Le Meurice and Hotel Plaza Athénée in Paris, and the Hotel Principe di Savoia in Milan.
