Qatar is set to buy London’s iconic Grosvenor House hotel from Indian diversified group, according to reports.
Proceeds from the sale will be used to pay US $1.5 billion in bail money for Sahara founder and chairman Subrata Roy.
Roy has been in jail for two years charged with contempt of court for allegedly failing to pay $5.5 billion owed to bondholders in India.
Other charges include an illegal private placement of bonds.
Qatar’s hotel portfolio around the world continues to grow. In 2015 it purchased Claridge’s, the Berkeley and the Connaught hotels.