Caterer and Hotelkeeper – 7192
01 January 2000
Royal Garden sale collapses
Rank Organisation's proposed sale of the Royal Garden Hotel in London to Hong Kong businessman HariLela has collapsed (Caterer, 16 June).
The millionaire is understood to have been ready to pay £45m for the 398-bedroom hotel, but talks collapsed over the complexities involved in the lease and the reconstruction of the property's exterior cladding.
Mr Lela, who was represented by Routels, spent $1m in fees connected with the deal.
