Abu Dhabi-based investor Asif Aziz acquires St Giles London Hotel

Criterion Capital, the London-based real estate investment company led by Abu Dhabi-based billionaire businessman Asif Aziz, has acquired the 732-key St Giles London Hotel on Tottenham Court Road in a deal reported at £220 million (AED1.09 billion). 

 

The acquisition increases Criterion’s West End portfolio to more than 3,700 operating rooms, supported by a development and conversion pipeline expected to take its total room count to over 9,000 keys by 2029.

 

The 730-plus-key, three-star St Giles London Hotel is part of the former Central YMCA complex in Bloomsbury, offering budget-friendly accommodation just off Oxford Street and steps from Tottenham Court Road’s Elizabeth Line interchange. Situated at the intersection of Oxford Street and Tottenham Court Road, the hotel occupies a corner site in the heart of London’s West End, within walking distance of Theatreland and the British Museum.

 

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Criterion already owned the wider block and had been pursuing the hotel since it was brought to market in February 2025, ultimately acquiring it from Malaysian group IGB Berhad. The deal reunifies the estate under single ownership for the first time since its original development, following decades of fragmented control.

 

Aziz’s connection to the site spans more than 30 years, from advising on its 1993 sale to gradually consolidating interests across the complex, including the former NCP car park that has since been converted into England’s first fully underground hotel for Criterion’s sleep-focused, windowless brand Zedwell.

 

Together with the latest St Giles acquisition and the earlier purchase of the YMCA’s remaining freehold interest, Criterion now controls a high-footfall West End island site with significant repositioning potential.

 

Zedwell, Criterion’s in-house, sleep-focused hotel brand, is also expanding rapidly, with five operating hotels in London, including Piccadilly Circus and Knightsbridge, and further sites planned in Manchester and Scotland.

 

For more information, visit criterioncapital.co.uk and stgileshotels.com