London hotels owner Firmdale eyes third bite at Big Apple

British boutique hotels group Firmdale is eyeing expansion in the Big Apple after checking in with record revenues last year.

The firm has eight London hotels including the Charlotte Street and Ham Yard hotels but plans to open a third in New York, in the downtown Tribeca district, investing around £100 million in the venture.

Firmdale’s revenues rose 9% to £162 million last year according to its latest accounts. Its average room in London costs £382, more than double the average for the capital in 2018, says property agent Knight Frank.

Its London hotels drove £106.8 million of revenue, which boosted underlying profits by 43% to £25 million.

This will add to the fortunes of Tim and Kit Kemp, the husband and wife who founded Firmdale.

Ham Yard is a haunt of celebrities including Gemma Arterton, Jade Anouka, Lucy Boynton and Claire Foy.