It is the first time that a significant stake in Firmdale has been sold to an external investor since it was founded in 1985 by husband and wife team Tim and Kit Kemp.
Luxury hotel group Firmdale has sold a 20% stake to Swedish pharmaceuticals tycoon Lennart Perlhagen, marking the first external investment since its founding in 1985 by Tim and Kit Kemp. Firmdale, known for its opulent and quirky London hotels, reported a £17.8 million operating profit in the year to January 2024, with room rates rising 47.1% since 2019. Perlhagen, who built Cross Pharma into a $4 billion company, acquired his stake in December 2021, with his son Richard representing his board seat. The sale involved new shares, retaining Kemp family control, and is estimated at around £300 million. Firmdale's valuation has grown from £500-600 million in 2015 to potentially £1.5 billion, with plans to develop new properties in London.
