JW Marriott Grosvenor House London is a luxury hotel on Park Lane with views of Hyde Park. The historic hotel opened its doors on May 14, 1929. The Great Room is one of the largest banquet halls in Europe. Queen Elizabeth II learned to ice skate in The Great Room, when it housed an ice skate rink before conversion into a banquet room in 1934.
Grosvenor House fetched the highest price ever paid for a London hotel when it was purchased for £470 million in 2010 by Indian firm Sahara India Pariwar.
Subrata Roy, head of Sahara India, also acquired New York’s Plaza Hotel in 2012. Sahara India employs more than one million Indians and is the second largest employer for the country behind India Railways. Some 8% of Indians are investors in Sahara India. Subrata Roy was arrested in February 2014 charged with defrauding investors. Roy remains in jail today.
Legal troubles for Subrata Roy and default on the London Grosvenor House hotel property forced the sale of Grosvenor House. Administrators from Deloitte are working with Jones Lang LaSalle (JLL) to find a buyer after Sahara defaulted on debts.
The Daily Mail article states:
A JW Marriott Hotel and is not directly involved in the sale or ownership of the building.
‘The hotel will continue to be managed by Marriott under the terms of our existing management agreement and will continue to operate at the same high level of service that our JW Marriott guests have come to expect.’
Rumors in today’s press indicate Hyatt Hotels is a potential bidder for Grosvenor House.
Will JW Marriott Grosvenor House London become a Hyatt?
JW Marriott Grosvenor House London is a Marriott Rewards category 9 hotel at 45,000 per night.