NRI Gulshan Bhatia
set to be acquired Waldorf Hilton in UK
London, Dec, 02, 2007
Ranbir Bhalla
NRI Gulshan Bhatia, Britain’s wealthiest entrepreneurs,
hotelier (FRONT-RUNNER) set to be acquired the 299-room Waldorf
(once the jewel in the crown of the old Forte hotel empire) in
Central London from Royal Bank of Scotland (RBS) for for £185m
.
The hotel, which is operated under a lease by Hilton
Hotels Corporation, is one of four properties with a combined
value of up to £650m put up for sale by RBS last month through
CB Richard Ellis Hotels, the property consultancy. Two previous
attempts by RBS to sell the Waldorf as part of a larger portfolio
foundered in volatile market conditions, The Times adds.
Mrs Bhatia, who owns the Hilton London Paddington and the Hyatt
Regency Birmingham, used her savings to buy a B&B in Paddington
for £190,000 and charged £3 per room.
She went on to become the first female Holiday Inn franchisee
in the UK when she took over the Holiday Inn Gatwick. She bought
and sold several hotels, using the profits to buy the Great Western,
in Paddington, for £10 million in 1986. The hotel, built
to resemble a French château, reopened in 2002 after a £60
million renovation.
Bhatia, who faced competition from Qatari, Bahraini and Israeli
investors to buy the Waldorf, is expected to retain the lease
arrangement with Hilton, although sources believe she may seek
to convert the lease to a management contract with the US hotel
behemoth.
Room rates shown are per room, per night
235.00 GBP QUEEN HILTON GUEST ROOM
315.00 GBP QUEEN HILTON EXECUTIVE
275.00 GBP QUEEN HILTON DELUXE
HILTON VALUE W BFAST INCLUDES BUFFET BREAKFAST (more)
Rates shown below include tax.
295.00 GBP QUEEN HILTON GUEST ROOM
375.00 GBP QUEEN HILTON EXECUTIVE
335.00 GBP QUEEN HILTON DELUXE
545.00 GBP KING HILTON SUITE
FULLY FLEXIBLE (more)
259.00 GBP QUEEN HILTON GUEST ROOM - FLEXIBLE RATE
339.00 GBP QUEEN HILTON EXECUTIVE
299.00 GBP QUEEN HILTON DELUXE - FLEXIBLE RATE
