Grosvenor House Sold To Indian Billionaire
At the start of 2010 we heard that the Royal Bank of Scotland was interested in selling London's Grosvenor House, now as the year closes it appears that the luxury Mayfair hotel is finally getting new owners. The 494-room hotel, one of London's largest five-star hotels, has been bought by a conglomerate, Sahara India Pariwar, owned by Indian billionaire Subrata Roy. Earlier in the year it was predicted that the hotel could sell for between £600m and £700 million but it went for £470 million. The five-star hotel opened in 1929 and became a JW Marriott Hotel in September 2008 after a major restoration.