Just weeks after the grand opening of the first Edition hotel, in The Waikiki EDITION in Hawaii, Marriott International has acquired the historic Berners Hotel in London and will spend two years renovating it into The London Edition.

The 175-year-old Berners has been closed since 2006 and was placed in administration in August of this year. The purchase price has not been disclosed, but analysts estimate it to be less than US$100 million.

“We are delighted to acquire Berners. It is a perfect property for an Edition hotel in London,” says Arne Sorenson, Marriott’s president and chief operating officer. “With its great location, beautiful façade, the building is a perfect canvass for creating a true work of art.”

The new boutique Edition brand was conceived by Ian Schrager in partnership with Marriott. “I am thrilled to be returning to London for an incredibly special and historical building like Berners Hotel,” Schrager says. “I am excited and passionate about creating an authentic and original experience for this special Edition hotel in this gateway city.”

Marriott expects to open the brand’s second property, The Istanbul Edition, early next year. Earlier this year, Marriott also acquired the Seville Hotel in Miami Beach to redesign and redevelop into an Edition hotel. Marriott plans to manage the hotels under long-term agreements after selling them to third-party owners.