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Armani's bid for Berkeley hotel refused
By Caroline Wilkinson
Fashion designer Giorgio Armani has reportedly had his multi-billion pound offer for the London Berkeley hotel rejected.
The Italian designer, who is due to open the flagship Armani Hotel Dubai in 2010, a part of the new Armani Hotels & Resorts firm, is reported to have had his offer refused by the owner of the Knightsbridge hotel after talks with investment firm Quinlan Private. It is understood that in order to purchase the Berkeley, Armani would need to buy all three hotels in the Maybourne Group including The Connaught and Claridges.
The exact amount offered for the hotel is unknow, but is rumoured to have been in the region of $3.8bn (£2.5bn). The Armani Hotel Dubai will include 160 bedrooms and suites as well as a 430,556sq ft (40,000sq m) spa and is set in the Burj Dubai development, created by Emaar Properties PJSC,which will offer 144 residential apartments also designed by Giorgio Armani.
The agreement between Armani and Emaar is for at least seven luxury hotels and resorts within the next 10 years. Details: emaar.com
Fashion designer Giorgio Armani has reportedly had his multi-billion pound offer for the London Berkeley hotel rejected.
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