LONDON The Lanesborough Hotel, which was recently put on the block by the Abu Dhabi Investment Authority, has sparked the interest of Syrian-born investor Simon Halabi, who is rumored to have bid $171.2 million for the property.
If sold at this price, the five-star deluxe hotel would become the world s most expensive hotel, achieving a purchase price of $1.8 million per room.
Halabi s investment vehicle, Buckingham Securities, is understood to have preferred bidder status ahead of rivals TY Warner, Orient Express, and Marriott. The hotel is currently operated by Rosewood, although its management contract is set to expire in one year.
Last year, Halabi purchased the Naval & Military Club in London for $71.3 million and is currently in the running for London s Berkeley Square Estate worth more than $428.2 million.
SOURCE: HVS International