Savoy to put refurb budget up to £90m?

06 March 2006
Savoy to put refurb budget up to £90m?

Plans to upgrade London's Savoy hotel have stalled once again, but this time it's because owner Fairmont Hotels is set to double or treble the investment programme.

The Canadian hotel group's original fund to refurbish the Strand's landmark property was £30m, but that sum could now be raised to £90m.

It is understood that the plans involve upgrading specifications of the current refurbishment programme, rather than adding new rooms or a spa.

A spokeswoman for the Savoy said: "Work has been delayed until early 2007. We will announce shortly what the increased sum will be."

The decision to increase the funds was taken before Saudi billionaire Prince Alwaleed bin Talal took over the Fairmont group last month.

\* Later this month (29 March), the Savoy launches the Monet Suite. This is its second in a series of themed room packages, offering tours of the National Gallery, cocktails and dinner from £2,600 for two nights.

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