JLL Hotels & Hospitality Group has been appointed as the sole agent to market London’s largest luxury hotel, the JW Marriott Grosvenor House Hotel on behalf of the Administrators and the LPA Receivers.

The LPA Receiver is a person (or company) who is appointed to take charge of a mortgaged property when the borrower has defaulted. 

The main aim is to either sell the property or to collect a rental income for the lender.  The LPAs have a right to demand and recover all income due (including rent) on the property that they are appointed receiver on.

The luxury five-star hotel became the largest hotel transaction in London on record when it sold in 2010.

The historic hotel, located at 86-90 Park Lane overlooking Hyde Park, boasts 494 bedrooms including 74 suites and spans over 56,700 sq m area.

The hotel’s conference and meeting facilities are amongst the most extensive in London spreading over 5,660 sq m of space across 31 venues, including the Great Room, the largest five-star ballroom in Europe.

It is also home to some of the most famous bars and restaurants in London including the JW Steakhouse & Terrace, Corrigan’s Mayfair, the Park Room & Library, Red Bar, Bourbon Bar and Park Lane Market. The JW Marriott Grosvenor House Hotel underwent a £135 million ($200 million) refurbishment in 2008.

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 Subrata Roy, was placed into administration by creditors.

Consultant Deloitte has been appointed administrator of Sahara Grosvenor House Hospitality, which owns the long leasehold title to the hotel.

Sahara, which has been trying to raise $1.6 billion to free Roy by refinancing overseas hotels including Grosvenor House and New York's Plaza, said the administrator was hired after Bank of China's loan on the London hotel was declared in default.

Mark Wynne-Smith, the global chief executive officer, JLL Hotels & Hospitality Group, said: "The iconic JW Marriott Grosvenor House is Mayfair’s largest hotel with 494 keys and a gross internal area of some 56,700 sq m. The last hotel transaction on Park Lane took place two years ago and as the market has strengthened since then, we are looking forward to engaging with investors in an open marketing process."

Designed by acclaimed architect Sir Edwin Luytens of New Delhi, the hotel became the first in Britain to introduce en-suite bathrooms and running iced water in each and every bedroom when opened in 1929.

It was built on the site of Grosvenor House, the former London residence of the Dukes of Westminster, whose family name is Grosvenor.

"The hotel is set apart from its Park Lane hotel peers due to its extensive banqueting facilities, whilst the lease to Marriott International means that we expect the asset to appeal to a broad range of local and global investors," he added.-TradeArabia News Service and Reuters