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Hyatt considering bid for London’s Grosvenor House Hotel
Hyatt has confirmed it will consider putting in a bid for London’s Grosvenor House Hotel, the prestigious Park Lane property put up for sale earlier this month.
“We will take a look at the Grosvenor as we look at all potential sites,” said Hyatt’s Peter Norman, senior vice president for acquisitions and development for EMEA.
“But I won’t know until I see the information whether it will work for us,” he added.
“Hyatt is always actively looking at potential properties across the continent – London is just one of many locations of interest,” a Hyatt spokeswoman said later, responding to media reports.
The luxury five-star Mayfair hotel was owned by Indian conglomerate Sahara Grosvenor House Hospitality, but it was put on the market when the firm defaulted on its debt.
Any deal is expected to bring in more than the £470 million the Sahara Group paid for the hotel in 2010.
Sales agent Jones Lang LaSalle has been appointed to find a buyer, and it is understood it has yet to send out the prospectus for the 420-bedroom, 74-suite hotel to potential buyers.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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