Grosvenor House Hotel sold for £470m

04-Jan-2011 - Last updated on 26-Apr-2021 at 19:31 GMT

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Grosvenor House Hotel will continue to be joint managed by Marriott

London’s Grosvenor House Hotel has been sold by the Royal Bank of Scotland for £470m to an Indian business conglomerate.

The 494-bedroom hotel on London’s Park Lane was acquired by Sahara India Pariwar, which operates Hotel Sahara Star in India, as well as other businesses in multiple sectors, including hospitality, tourism and city development.

CBRE Hotels, the real estate advisor that acted for RBS throughout the process, claimed the deal to be the largest ever single asset sale in Europe.

Expansion plans

Subrata Roy Sahara, Chairman of Sahara Group, said: “We are extremely happy to announce Grosvenor House joining the Sahara family. This acquisition is a part of the major expansion plans of the group.

“In addition to the acquisition of Grosvenor House, London will be the gateway for Sahara to introduce some of its new business ventures internationally.”

Sahara India Pariwar will joint-run the hotel with JW Marriott, which has a 24-year management agreement with the hotel.

The deal comes two years after RBS reopened the Grosvenor as a JW Marriott hotel, following a four year, £100m refurbishment.