The Qatar Investment Authority has ended talks on the purchase of the Grosvenor House Hotel in London and the Plaza and Dream Downtown hotels in New York.
Subrata Roy, the founder of the Sahara Group which owns the Grosvenor and majority stakes in the other two hotels, was jailed in 2014 and has been looking to raise bail of $1.6bn.
A consortium of family offices is the only remaining bidder, although David and Simon Reuben could be interested in acquiring the properties. The brothers own debt totalling $750m, collateralised against the properties.
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