A member of the Saudi royal family is reportedly preparing a £600 mln (€776 mln) offer to buy the landmark Grosvenor House hotel in London’s Mayfair.
According to a news report by PropertyWeek, the consortium - made up of the family office of the royal family member and three associates - is close to formalising an all-equity offer in what could become the biggest single hotel deal ever in the UK.
Grosvenor House, which boasts 420 rooms, 74 suites, 27 meeting rooms and one of the largest five-star ballrooms in Europe, is being sold by Sahara Grosvenor House Hospitality, a subsidiary of Indian corporate giant Sahara which has been placed into administration.
Sahara bought Grosvenor House in 2010 for £470 mln.
