Quinlan sells London's Savoy Hotel for £210m

PROPERTY speculator Derek Quinlan has sold the prestigious Savoy Hotel in London for an estimated £210 million.

Mr Quinlan snapped up the Savoy Group last April for €1.4 billion. It consists of some of the London's most famous hotels, including Claridge's, the Connaught and the Berkeley,

Last year Mr Quinlan was approached by Saudi billionaire Saudi Prince Alwaleed bin Talal who wanted to acquire the hotel. A Canadian firm, Fairmont Hotels and Resorts, which is backed by Prince Alwaleed, will operate the 263-room hotel.