BT Tower: London landmark to become hotel after BT Group sells to MCR Hotels for £275m

BT Group has confirmed the sale of its London landmark the BT Tower.

The towering structure has been bought by American hotel group MCR Hotels for £275m. BT Group says that the company are planning to "preserve BT Tower as an iconic hotel, securing its place as a London landmark for the future".

The BT Tower, located in Fitzrovia, opened in 1965 and has stretched above the London skyline at 620ft for decades. It was given Grade II listed building status in 2003. Brent Mathews, property director of BT Group, said: “The BT Tower sits at the heart of London and we’ve been immensely proud to be the owners of this important landmark since 1984. It’s played a vital role in carrying the nation’s calls, messages and TV signals, but increasingly we’re delivering content and communication via other means. This deal with MCR will enable BT Tower to take on a new purpose, preserving this iconic building for decades to come.”

MCR Hotels owns around 150 hotels around the world, including famous TWA Hotel in New York City, as well as the New Yorker hotel. Tyler Morse, CEO and owner of MCR Hotels, said: “We are proud to preserve this beloved building and will work to develop proposals to tell its story as an iconic hotel, opening its doors for generations to enjoy.”