10 November 2021, Virtual
London, UK - November 2021
London, UK - December 2021
London’s iconic Grosvenor House Hotel is up for sale after its owner was placed in administration.
The five-star property, located on Park Lane, is expected to fetch more than the £470 million Sahara Grosvenor House Hospitality Limited paid for the hotel in 2010.
Deloitte has been appointed administrators of Sahara House Hospitality, with Jones Lang La Salle given the task of finding a buyer.
The sale process was triggered after the owners failed to pay debts on the five-star hotel.
"The last hotel transaction on Park Lane took place two years ago and as the market has strengthened since then, we are looking forward to engaging with investors in an open marketing process," said Mark Wynne-Smith global chief executive at JLL's Hotels and hospitality group.