The Savoy Educational Trust wants to open a hotel school in London. A feasibility study is under way, the results of which are expected in the spring.
Margaret Georgiou, secretary to the trustees, said: "We are a charity, so we are not looking to make a profit. We just need to know whether it will be self-funding."
The trust had a number of shares in the Savoy Group, which it sold in 1998 for £37m. It is planning to use some of this money to establish the school, which is expected to cost between £5m and £8m.
The plans also include the development of a 40-bedroom hotel, two restaurants and conference facilities, which the students would help to run. Money generated from the hotel, restaurants and conference rooms would go towards the school.
The trust, which has held talks with Southwark council in an effort to find a site, would also seek industry and government help to finance the running costs. Georgiou added: "Until the results of the feasibility study have been shown to our trustees, we cannot say whether the idea is worth pursuing."
The trust was established by four directors of the Savoy in 1960. Based at the Savoy hotel, it is run as an entirely independent charity and is designed to encourage the development of education and training in the hospitality industry at large, not just within the Savoy Group.
Its activities include giving scholarships to young people wanting to pursue a career in the industry, as well as awarding annual grants to universities and colleges.
Graduates of the hotel school would go on to work in all areas of hospitality.
by Louise Bozec