The sale of the Grosvenor House Hotel in Park Lane to oil-rich buyers from the Gulf states is the latest rumour making the rounds in the hospitality world.
The landmark 500-bedroom hotel has just gone under a £100m facelift but its owners, the Royal Bank of Scotland, are reportedly negotiating a £720m sale to the ruling family of Bahrain, who already own the nearby 219-bedroom Four Seasons Hotel.
RBS bought the hotel in 2003 when previous owners, Le Meridien, went into receivership and it is now managed by Marriott.
An RBS spokesman did not deny the rumour of the sale either, looks like the sale of the Paris Hotel could have kicked things off for the hotel market!
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