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QATARI-BACKED CONSTELLATION HOTELS SEEKS E750M FOR TROPHY LONDON PROPERTY
The new Qatari owners of the Maybourne Hotel Group are considering the sale of The Berkeley hotel in Knightsbridge, SWl, for ^750m.
Constellation Hotels Holding, an arm of Qatar Holdings, is offering the hotel directly to select parties on an off-market basis.
The hotel is the least prestigious of the trio within Maybourne, acquired through Constellation in April last year, and forms part of Qatar Holdings' strategy of divesting of some assets to diversify its concentration of European properly holdings.
Prospective buyers would have three options were a deal to take place for the 1970s-built 214-bedroom hotel.
The most dramatic is a fullscale demolition and rebuilding, taking six...