Mayfair is an exclusive area of West London, by the east edge of Hyde Park, in the City of Westminster. The district is now mainly commercial, with many former homes converted into offices for major corporate headquarters, embassies, and also hedge funds and real estate businesses. There remains a substantial quantity of residential property as well as some upmarket shops and restaurants, as well as London's largest concentration of five star hotels. Rents are among the highest in London and the world.