New owners Central Group and Signa Group have announced plans to open a luxury hotel as part of a major revamp of the Selfridges flagship store.
Selfridges is a 113-year-old business with stores in London, Manchester and Birmingham which was sold by the Weston family for £4bn on Christmas Eve. The new buyers have already announced that they want to overhaul the Oxford Street store in London.
According to the businesses, the overhaul will prioritise upgrading the food hall area at Selfridges and the development of a luxury hotel in the part of the building that has been empty since 2008, when the old Selfridges Hotel closed its doors.
Chairman of Selfridges Group, Alannah Weston, has previously said: “I am proud to pass the baton to the new owners who are family businesses that take a long-term view. I know they will fully embrace that vision and continue to empower our incredible team to take the Group from strength to strength.”
