Prince Alwaleed bin Talal, the Saudi billionaire, is prepared to invest £30m in the Savoy Hotel and Grill to return it to its former glory if his talks to buy it for about £200m from Quinlan Private succeed. Previous owner Blackstone invested in revamping the Grill and installed Gordon Ramsay’s protege Marcus Waring as head chef. Deutsche Bank said the redevelopment of the Grill had added a bit of "much-needed zest". Financial Times (Money & Business) 11/09/04 page 5