Richard Faber, a spokesman for Sir David and Sir Frederick Barclay, told The Financial Times an agreement had been reached to "ensure an end to any litigation" over the ownership of the hotels and that the business "has been a very successful investment for us".
The selling price has not been disclosed, but C&IT reported last month how the Abu Dhabi Investment Authority (ADIA) was understood to have made a £1.6bn bid for the properties.
Constellation Hotels has been amassing some of Europe’s best-known properties including the Intercontinental Park Lane, the St Regis in Rome and Le Grand in Paris with support from Qatar Holding, the sovereign wealth fund backed by the Qatari royal family.
Claridges, The Berkeley and the Connaught are popular choices for events and conferences. Claridge's offers eight different spaces including a grand ballroom, which can hold 450 for a reception; the Connaught has nine function rooms, the largest accommodating 200 delegates; and the Berkeley has six capable of hosting between 10 and 450 guests.
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