Quinlan Private sells two London hotels

A group of investors led by Irish property and investment group Quinlan Private today completed the sale of two top London hotels.

The Savoy Hotel and Simpson’s in the Strand were sold to a company associated with Prince Alwaleed bin Talal Abdulaziz al Saud and Bank of Scotland Corporate, part of the HBOS group.

The remaining properties in the Savoy Group - The Berkeley, Claridge’s and The Connaught, together with the Savoy Theatre – will continue under the current ownership of QP.

The hotels will remain under the existing management team led by Geraldine McKenna.

The new company name, brand identity, strategy and development plans will be announced on Monday next, January 24.

Quinlan Private bought the Savoy Group in May 2004 for £750m (€1.076bn).