The D’Oyly Carte Charitable Trust (DCT) was established in 1972 and, together with its sister charity the Savoy Educational Trust (SET), which was established in 1961, had as its asset base the then Savoy Group, which comprised a number of hotels and restaurants including the Savoy Hotel (pictured) and Savoy Theatre.

The year 1998 marked a turning point in the history of the charities when the trustees, after taking legal and financial advice, and with the approval of the Charity Commission, agreed to sell the charity’s shares in the Savoy Hotel PLC (the Savoy Group) to Blackstone Hotel Acquisitions Company. The proceeds formed the capital assets of the charities.