The Wall Street Journal today said that Host Hotels and GIC are jointly bidding for London’s Grosvenor Hotel. The property is being marketed at a price of £500m by CBRE Hotels on behalf of the Royal Bank of Scotland.
The newspaper speculated that the sale process may be extended over the coming months if the euro-zone crisis deepens. HVS was quoted stating that the deal would be the biggest single asset transaction in Europe on record if it happens.
The article is on p22 of the WSJ Europe.