Mandarin Oriental Hotel could set records with sale price

For $1 million you could buy this one room.
For $1 million you could buy this one room. –George Apostolidis

Ready to own a high-end hotel? Back Bay’s Mandarin Oriental Hotel will be up for auction this fall, and it’s estimated price would put each hotel room at $1 million, according to a report by The Boston Globe.

Real estate watchers told the Globe the seven-year-old property could go for $148 million, which would break previous record hotel deals in Boston.

The hotel on Boylston Street is up for sale due to the bankruptcy of Anglo Irish Bank Corp., which was taken over by the Irish government after its collapse and owns a controlling share of the property.

The condominiums in the 14-story building would not part of the bankruptcy proceedings, and the retail space is being sold separately.

Read the full Globe report here.

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