ARMANI’S BID FOR THE BERKELEY REBUFFED
Fashion mogul GIORGIO ARMANI has had his multi-million dollar offer to purchase top London hotel The Berkeley rejected.
The Italian designer, 74, is reported to have bid to take over the five-star Mayfair establishment in a series of talks with multi-millionaire owner Derek Quinlan.
The offer was said to be part of Armani’s plans to launch a new line of resort hotels.
But The Berkeley boss - who also owns other top London venues The Connaught and Claridge’s, and is the former head of The Savoy Hotel - refused to sell.
A source says, "No one knows Armani has been looking at moving into hotels but he is set on owning one in London. He was prepared to part with a lot of cash for The Berkeley but Quinlan told him he would have to buy all three hotels, which would effectively mean the end of the former Savoy Group." The exact offer made by Armani is unknown, although he is alleged to have put aside a $3.8 billion (£2.5 billion) budget for the hotel.
The first Armani Hotels & Resorts venture is set to open in Dubai and will feature 160 guest rooms and suites, as well as restaurants and a spa.
The hotels will be exclusively designed by Armani, who recently revamped actor Adrien Brody’s castle estate in New York.
Movie & Entertainment News provided by World Entertainment News Network (www.wenn.com)
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