Aug. 22, 2003 - The London May Fair hotel in Stratton Street, opened in 1927 by King George V, has fallen into American hands for UKpound 115 million in cash.

Radisson Edwardian Hotels, one of the largest privately owned US leisure operators with a basket of London four-star and five-star hotels, has bought the landmark West End hotel from InterContinental Hotels Group, Britain's largest hotelier.

May Fair's restaurants attract celebrities including, the hotel's website claims, former model Melinda Messenger and singer Neil Sedaka. InterContinental chief executive Richard North said the sale was the first of several to come, in keeping with the company's strategy of "driving enhanced returns through reducing capital intensity".

Sales talks continue for InterContinental's Central Park South Hotel in Manhattan, which could fetch $65 million (UKpound 41 million). InterContinental will use the May Fair sales proceeds to reduce a UKpound 2.35 billion syndicated loan, of which UKpound 887 million is due for repayment in February.

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