Sahara India Pariwar has purchased a hotel in London’s Mayfair district for £470 million, Financial Times reports. The Grosvenor House was purchased from Royal Bank of Scotland (RBS). The Indian conglomerate run by Subrata Roy paid cash for the acquisition. RBS bought Grosvenor House in 2003 from hotel operator, Le Meridien. RBS owned a long lease on the Mayfair hotel, which will continue to be operated by Marriott International.
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