Blackstone is looking at selling some of Savoy Group’s flagship hotels to recoup some of the £520m it paid for Savoy last year.
While nothing is officially on the market, the Connaught in Mayfair has been approached, while a deal to sell the Berkeley Hotel in Knightsbridge fell through when Blackstone wanted more than £150m for the 160-room hotel.
Independent on Sunday (Business) 28/11/99 page 2
