UK hotel investment company GuestInvest has bought two central London properties for £120 mln after securing a further £200 mln injection from Bank of Scotland Corporate. The acquisition brings Guestinvest's property portfolio to £300 mln. The company said it plans to redevelop the properties located near Hyde Park and Notting Hill into two hotels. The hotel near Hyde Park will be named The Jones and will open for business in mid-2008 following a multi-million pound redevelopment programme.
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