Monday, August 9, 2010

Asian tycoon wants to sell the London Waldorf

One of Britain's wealthiest Asian entrepreneurs is preparing to check out of an historic London hotel for up to £250 million.

Gulshan Bhatia bought the Hilton Waldorf from Royal Bank of Scotland for £180 million in 2007. The five-star, 299-room hotel in the Aldwych, near Covent Garden, central London, was built in 1908.

One source close to the situation said: 'Mrs Bhatia is looking to increase her presence in London by using the money raised to snap up smaller hotels.'

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