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Sahara India acquires iconic London hotel Grosvenor House
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Monday, 10 January, 2011, 08 : 00 AM [IST]
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Our Bureau, Mumbai
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Sahara India Pariwar recently announced that it has acquired the most iconic hotel, Grosvenor House, from the Royal Bank of Scotland group. Grosvenor House, located in the prestigious Parklane in Mayfair, London, is an iconic landmark with 420 rooms, 74 suites, 27 meeting rooms, providing an incredible 4,000 sq. metres of high quality space and also houses Europe’s largest and most famous hotel banqueting space, the Great Room.
Sahara has advance plans to make Grosvenor House a most sought after destination of London. As part of its plan, Sahara will add a number of restaurants and other facilities including an Indian restaurant -- Namak, a grand bar, a spacious night club, a large business centre, a swimming pool, a grand spa with parlours in addition to other attractions.
Says Subrata Roy, chairman, Sahara Group, “We are extremely happy to announce Grosvenor House joining the Sahara family. After long and strict negotiations, we have purchased it for 470 million pounds. The hotel is now owned by Aamby Valley Ltd. This acquisition is a part of the major expansion plans of the group.”
Eventhough Sahara owns Grosvenor House fully, the operations are with Maryland-based J W Marriot under a 50-year lease. Though the lease is in its eighth year, it is learnt the Sahara Pariwar may, if need be, exercise the right to terminate it, taking on itself the day-to-day operations.
Can Roy and his team carry the heavy burden of a brand which is so closely intertwined with English society? The general opinion is that, for Sahjara, this is just another investment. The new owners are unlikely to do anything that will upset the applecart. It is too early to tell, but it’s possible that Sahara may be the landlord who will finally usher Grosvenor House, the World War II relic, into the modern era.
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