India's Sahara buys Grosvenor House hotel for £470 million

Published 30th Dec 2010

Indian diversified group Sahara India said on Thursday its unit Aamby Valley has purchased London's Grosvenor House hotel from the Royal Bank of Scotland for 470 million pounds.

Sahara said in a statement the acquisition would help the group establish its foothold in the international luxury hotel market. It plans to add restaurants, a business centre, a night club and other facilities to the property.

Grosvenor House, with 420 rooms, 74 suites and 27 meeting rooms is located in the upscale Park Lane in London and is currently managed by Marriott International.

The hotel would now be jointly run by Sahara and Marriott, Sahara said.

Sahara currently operates the Sahara Star hotel in Mumbai and owns the Aamby Valley township in western India.

Source: ' This is Money '

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