Sovereign wealth fund Qatar Investment Authority (QIA) is in talks to buy around a third share of the Savoy Hotel and, is also being reported to be among the final bidders in the £500m-plus auction of the Grosvenor House, both of which are London's most famous hotels, The Times has reported. The 120-year-old Savoy is owned under a 50-50 joint venture by the Prince Alwaleed bin Talal and HBOS. The Grosvenor House is being sold by Royal Bank of Scotland Group and there are as many as five other bidders, including an Abu Dhabi sovereign wealth fund, the newspaper said.