SELFRIDGES is seeking a design group to suggest a new look for The Selfridge hotel adjacent to the London store, otherwise it may be sold off.
The 294-room hotel, currently operated by Thistle Hotels, is under-performing and has not been refurbished for 29 years. Thistle is one of five companies interested in running the hotel once the existing lease expires in two years time, although Selfridges chairman Alun Cathcart says all options, including disposal, are being considered.
The move to extract maximum value from the site follows Selfridges de-merger from Sears last summer. Refurbishment of the retail departments is underway – departments already complete report improved trading figures.
Thistle Hotels has started a programme of branding and improvement of facilities throughout its 60-strong chain. The Selfridge will become known as The Selfridge, a Thistle Hotel. A spokesman for the group confirms negotiations are underway with Selfridges regarding the future of the Oxford Street site.