Bid For London’s Famed Grosvenor House, New York’s Park Plaza Rejected
by Jessica Montevago /London's five-star Grosvenor House hotel. Photo: Anthony O'Neil
India-based Sahara group reportedly rejected Wednesday a $1.3 billion bid for the Grosvenor House, Park Plaza and Dream Downtown hotels, in a deal that would have been the "largest hotel bid in U.K. history."
A consortium of Middle East and U.K. investors said they planned to upgrade the hotels if the transaction was successful.
The Grosvenor House, operated under the JW Marriott brand, is a landmark hotel in London. The other two properties in the deal were New York’s 110-year-old Plaza in Central Park and Dream Downtown.