ZAWYA-PRESSR: Abu Dhabi-based Asif Aziz secures landmark St Giles London Hotel

London – Criterion Capital, a leading real estate owner and investment company founded by Abu Dhabi-based Asif Aziz, has acquired the 732-room St Giles London Hotel on Tottenham Court Road, completing the long-term vision of securing full ownership of one of the West End’s most prominent, strategically located and globally recognisable island sites.The hotel occupies a landmark position at the intersection of Oxford Street - one of the world’s leading retail districts - and Tottenham Court Road, at the very heart of London’s West End. Directly adjacent to Tottenham Court Road Underground station, served by the Central, Northern and Elizabeth lines, the site benefits from unrivalled connectivity, exceptional footfall and immediate proximity to London’s famous Theatreland, the British Museum and some of the capital’s most prestigious academic and medical institutions.This acquisition marks the latest chapter in a story spanning more than three decades. Before establishing Criterion Capital, Aziz was a member of the Michael Laurie team that advised the YMCA on the sale of the hotel in 1993 to Ravenscroft Investments. He later founded Criterion Capital and gradually consolidated interests across the wider site, including the acquisition of the underground NCP car park in 2006. Criterion subsequently reimagined and revitalised this dormant space as England’s first fully underground hotel - a pioneering addition to its innovative Zedwell hotel brand - demonstrating its long-standing commitment to sustainability, adaptive reuse and the preservation of embodied carbon.Following the YMCA’s independent decision to cease operations in 2025, the organisation approached Criterion regarding the sale of its freehold interest after its closure, which Criterion acquired. Criterion has now completed the reunification of the entire site, restoring single ownership for the first time since its original development, after more than three decades of fragmented ownership and operation.This reunification reflects Criterion’s philosophy of strategic, responsible, long-term stewardship: respecting the heritage, history and layered narratives of complex urban sites while deploying patient capital to enhance and future-proof them. As multigenerational custodians of some of London’s most iconic real estate, Criterion is committed to maintaining the highest standards and unlocking the full potential of its assets. Aziz's approach ensures properties remain operationally strong and resilient against market pressures, while creating long-term value.With this acquisition, Criterion's West End hotel portfolio now comprises over 3,700 operating hotel rooms, with a committed pipeline set to exceed 9,000 rooms by 2029.KEY CONTACTSaskia JiggensGroup Head of Communications and Engagementsaskia.jiggens@criterioncapital.co.ukABOUT CRITERION CAPITALCriterion Capital is a leading real estate owner and platform operator. Specialising in converting obsolete buildings into affordable residential apartments and lifestyle hotels, Criterion Capital focuses on long-term value creation through acquisition, development, operation and retention. Our hotel portfolio consists of 28 hotels with 9,000+ rooms across the UK, including our in-house hotel brand, Zedwell. Our residential portfolio comprises 5,500 apartments across the UK and Europe. Our commercial holdings total 50+ buildings in prime London locations, including our Piccadilly Circus, Leicester Square and Knightsbridge Green Estates.For more information, please visit www.criterioncapital.co.ukSend us your press releases to pressrelease.zawya@lseg.comDisclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. 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