The vintage luxury Grosvenor House Hotel in London has reportedly been acquired by Indian billionaire Subrata Roy’s conglomerate Sahara India Pariwar. The Sunday Times reports that Grosvenor owner Royal Bank of Scotland has agreed to sell the 422-key property to Roy for about £470 million, or £1.1 million ($1.7 million) per key. Wonder when it will open up, what will be its value per key?
RBS had been seeking £700 million for Grosvenor in two earlier auctions, but the bank apparently lowered its asking price after receiving no serious bids.
Frequented by royalty and celebrities since its opening, the hotel overlooks the 360-acre Hyde Park and provides a perfect balance of proximity and tranquility. Its luxurious bedrooms and suites, Royal Club rooms, health club and the largest swimming pool in London, make it one of London’s most distinguished addresses as well as being home to the biggest ballroom in Europe.
Serving everything from authentic stake to traditional English afternoon tea in the Park room the hotel boasts some of the finest hotel restaurants and bars in the world including a trademark JW Steakhouse. Its Great Room with a maximum seating capacity of 2,000
The Grosvenor House, A JW Marriott Hotel was re-branded under the JW Marriott flagship name in September 2008, following a massive four-year, multimillion pound restoration all its 494 bedrooms taking a “traditional English” décor.