London Grosvenor House Hotel sold in £470m deal

The Sahara Group has bought the Grosvenor House Hotel from the Royal Bank of Scotland Group.

Sahara Group buys Grosvenor House Hotel
Sahara Group buys Grosvenor House Hotel

The hotel has been on the market for three years and RBS originally sought £700m for the Park Lane property.

However, two previous auctions had failed before the Sahara India Pariwar group entered the deal, which was completed on 30 December.

Sahara Group’s chairman Subrata Roy Sahara said the acquisition was part of "major expansion plans" for the group.

"We are extremely happy to announce Grosvenor House joining the Sahara family," he said. "In addition to the acquisition of Grosvenor House, London will be the gateway for Sahara to introduce some of its new business ventures, internationally."

The JW Marriott-run hotel features 420 rooms, 74 suites and 4,000sqm of meetings space spread over 27 rooms.

The hotel’s largest meeting room is 1,779sqm and can accommodate 2,000 delegates.

The acquisition was brokered by Richard Lewczynski of Blandford Goldsmith and the plan is for Sahara to jointly manage the hotel with Marriott.

RBS last year sold the Cumberland Hotel in London's Oxford Street for an estimated £215m to Starwood Capital and London & Regional Properties.

RBS representative Michael Strachan told C&IT: "We are generally looking at reducing our commercial real estate exposure."

The banking group has a further six hotels for sale - Hilton Brighton, Glasgow, Glasgow Grosvenor, Manchester Airport, Warwick and St Annes Bracknell.

Have you registered with us yet?

Register now to enjoy more articles
and free email bulletins.

Register now
Already registered?
Sign in
Top incentive trends for 2020

Top incentive trends for 2020

We asked event planners what trends they have noticed in incentive travel for this year as part of the State of the Industry report.

Air New Zealand unveils lie-flat beds for economy passengers

Air New Zealand unveils lie-flat beds for economy passengers

The airline says the new design is a “game-changer” for economy-class customers on long-haul flights.

Hong Kong offers free venue hire amid coronavirus fears

Hong Kong offers free venue hire amid coronavirus fears

A government subsidy aims to reinvigorate the conferences and events industry after event cancellations.

Can video save events amid Coronavirus cancellations?

Can video save events amid Coronavirus cancellations?

Event industry must stop thinking 'if you’re not physically in the room, you’re a no-show’ says video platform CCO.

Top doctor reveals 12 ways to make events more accessible

Top doctor reveals 12 ways to make events more accessible

Doctor Helen Grote describes how to make events more inclusive for disabled delegates.

Emerging incentive destinations for 2020

Emerging incentive destinations for 2020

State of the Industry: Incentives report offers insight into the destinations event planners are booking compared to last year.

Bomb victim's mother fights to make venues safer

Bomb victim's mother fights to make venues safer

Home Office is consulting on 'Martyn's Law' to protect fans at concerts and large-scale events.

Venice Carnival cut short as Coronavirus experts warn of global ‘tipping point’

Venice Carnival cut short as Coronavirus experts warn of global ‘tipping point’

Annual festival adds to a long list of pulled events while a global agency talks of cancellations, postponements and a move to virtual meetings.

'Four-poster bed, copper bath and gorgeous furnishings': a night at Down Hall Hotel

'Four-poster bed, copper bath and gorgeous furnishings': a night at Down Hall Hotel

C&IT's associate editor reviews a country house hotel dating back to 1322 with Italianate architecture and luxury interiors.

The charity ball with a projection-mapped 'Wheel of Fortune'

The charity ball with a projection-mapped 'Wheel of Fortune'

Country estate Alrewas Hayes hosted the 25th anniversary of the Hope and Homes for Children fundraiser.

LATEST JOBS