NEW DELHI/MUMBAI (Reuters) - London's landmark Grosvenor House hotel has been put up for sale after its owner, part of troubled Indian conglomerate Sahara which has been trying to raise funds for its jailed boss, was placed into administration by creditors.
Consultant Deloitte said on Tuesday it had been appointed administrator of Sahara Grosvenor House Hospitality Ltd, which owns the long leasehold title to the hotel. Property consultant Jones Lang LaSalle (JLL) will advise on the sale.
Sahara, which has been trying to raise $1.6 billion in bail money to free its jailed boss Subrata Roy by refinancing its three overseas hotels including Grosvenor House and New York's Plaza, said the planned sale did not preclude it from working on the refinancing transaction.
(Reporting by Aditi Shah and Sumeet Chatterjee; Editing by Mark Potter)
