De Vere did not confirm the rumour according to an article in The Argus, but a spokesperson said: “The company has now signed an exclusivity agreement with a third party for the sale of Grand Brighton, following strong expressions of interest from a range of potential purchasers”.
The renowned hotel on King’s Road was put up for sale in November as its current owner sought to ease a £1.1 billion debt.
The 150-year hotel, which was rebuilt in 1984 after being the target of an IRA bomb during the Tory Party conference, recently underwent a £7m renovation.
The Grand’s 201 rooms were refurbished, a new spa and restaurant were added and the bar was improved. Read the full story at The Argus.