After more than three decades of strategic acquisitions, Criterion Capital has completed its long-term quest to reunify the St Giles London Hotel site with a £220 million purchase. The transaction gives the London-focused real estate investment company freehold ownership of the 732-room hotel, one of the largest single hotels in central London by key count. The property, now managed by Criterion Hospitality, marks the final piece in Criterion’s patient assembly of what is considered one of the most prominent island sites in London’s West End.
Criterion Capital completes decades-long reunification of the St Giles London Hotel site through strategic £220 million acquisition.
The story began in 1993 when the YMCA sold the hotel to Ravenscroft Investments. Asif Aziz, who later founded Criterion Capital, served on the advisory team for that transaction. In the years that followed, Aziz methodically pursued control of the entire site, beginning with the acquisition of an underground NCP car park in 2006 and continuing with other strategic parcels surrounding the hotel.
Located on Tottenham Court Road, near Oxford Street, Bloomsbury, and Soho, the St Giles property occupies a prime position within London’s hospitality landscape. The three-star hotel has historically operated with approximately 732 rooms, serving as a high-capacity lodging option in the heart of the West End. For decades, the site suffered from fragmented ownership and operation across its footprint. The hotel benefits from its location at the intersection of major transport links, making it easily accessible for visitors to the capital. Financial reports indicate that despite recent challenges, the hotel’s turnover increased by £1.1M (+4%) to £27.49M, demonstrating its continued viability in London’s competitive hospitality market. The establishment is known for its boutique hotel qualities despite its three-star classification, offering guests value beyond their payment level.
The final path to reunification emerged when the YMCA decided to cease operations in 2025, creating an opportunity for Criterion to acquire its remaining freehold interest. With this acquisition and the subsequent purchase of the St Giles London Hotel, Criterion has achieved complete control of the island site for the first time in over 30 years.
The transaction positions Criterion Capital as a multigenerational custodian of the asset with a long-term investment horizon. By consolidating ownership of both the building and land, Criterion has eliminated the complex ownership structure that previously characterized the property, setting the stage for potential future enhancement of this strategically located West End landmark.
