Barclay brothers bid for London's Grosvenor House
The hotel in London was put up for sale three years ago by its current owner, the Sahara Group
Billionaire businessmen brothers Sir David Rowat Barclay and Sir Frederick Hugh Barclay, who own British newspaper The Daily Telegraph, have bid more than US $751 million for London’s Grosvenor House Hotel, according to a report in The Sunday Times.
The property was put up for sale three years ago by Indian company Sahara Group whose owner Subrata Roy has been imprisoned since 2014 and who has been trying to sell the hotel to help raise £1.3 billion ($1.7 billion) bail.
The company also owns majority stakes in New York's Dream Downtown and Plaza hotels.
The Qatar Investment Authority (QIA) was earlier in the running to buy London’s Grosvenor House Hotel and two hotels in New York; however, it abandoned the bid in 2016. UK’s Reuben brothers were also in the running, according to the Financial Times.
Grosvenor House, on London’s Park Lane, was designed by Edwin Lutyens.