LE MERIDIEN, the up-market hotel chain, is undergoing a re-organisation, Lehman Brothers, the New York banker, joining with Starwood in a recapitalisation mainly for properties outside the UK. Here freehold owner the Royal Bank of Scotland has yet to confirm new owners/operators for Le M”ridien hotels in York, Leeds, Manchester (The Palace & Victoria & Albert), The Russell in London, Le M”ridien Selsdon Park, Croydon and Le M”ridien Heathrow. The Cumberland remains closed whilst completing a multi-million pound redevelopment. Late last year new operators were confirmed for The Grosvenor House and Waldorf in London and the Shelbourne in Dublin. Le M”ridien continues to operate its flagship hotel in Piccadilly plus the Cafe Royal and also a property at Gatwick.
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