The Times reports that the sale of Ian Schrager’s two London hotels have hit the buffers.
The City Diary column says the word is that the auction to sell the Sanderson and the St Martins Lane may have been ditched in favour of a refinancing.
It is thought there have been differences of opinion between the hotels’ co-owners Burford and Schrager’s Morgans Hotel Group. The properties went on the market last August for about £100m.
References: The Times 21/04/05 page 54 (City Diary)
