Published: June 18, 2010
Sovereign fund to add hotel to London portfolio.
Qatar’s sovereign wealth fund is looking to strengthen its portfolio of London assets after holding talks with the owners of the Savoy Hotel.
The Qatar Investment Authority, which already owns Harrods, the Chelsea Barracks and a stake in the London Stock Exchange, is reported to be negotiating to buy up to a third of the 120-year-old hotel.
Any deal would see the current owners, Saudi billionaire Prince Alwaleed Bin Talal and HBOS, reduce their interest in the business.