Sahara says not bidding for Grosvenor House hotel

With its prized property, Grosvenor House, put on sale by lender Bank of China for a loan ‘default’, crisis-hit Sahara group on Thursday said it is not participating in any re-auctioning of the London hotel. The bank has Grosvenor House under “administration” to recover its loans, while Deloitte and realty consultant JLL have been mandated to find a new buyer through an auction.