The five-star Columbus hotel in Monaco, owned by Malmaison founder Ken McCulloch and Formula One racing driver David Coulthard, is up for sale through property agent Christie & Co.
According to today’s Times newspaper the 181 room hotel has been priced at €50m (£33.8m) but Christie & Co would not reveal an official valuation.
Jeremy Hill, Christie & Co’s director and head of hotels, said it was one of very few independently-owned properties in the Principality to come on the market and offered further development opportunities.
However the Columbus has, according to the Mail on Sunday, been a source of great consternation between McCulloch and fellow investment partner, US multi-millionaire Phillip Morris.
Morris has appointed accountants PKF to review the financial records of the hotel following allegations of unaccounted funds. McCulloch has called for the allegations to be substantiated.
Read the full article in the Times here >>
The celebrity hoteliers >>
Ken McCulloch puts Columbus back one year >>
By Christopher Walton
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