Sahara denies wanting to sell Plaza, Dream hotels

TRD New York /
Nov.November 21, 2013 08:25 AM

The chairman of Sahara Group has quashed rumors that the Indian conglomerate is looking to sell a portion of Its Hotel Portfolio Including The Plaza Hotel and the Dream Downtown Hotel. “I would like to take this opportunity to set the record straight,” chairman Subrata Roy said in a statement late Tuesday. “Sahara is not looking to divest itself of these important assets at this time.”

Earlier reports indicated that Sahara – which is facing lawsuits at home for alleged violations of securities law – was looking to sell the two New York hotels as well as the Grosvenor House in London. The group had received a $1.6 billion offer for the trio of hotels from an unidentified Middle Eastern investor, according to previous reports.

“This speculation has arisen because we have received offers, but that does not mean we have any intention of selling,” Roy added in the statement, provided to the New York Observer. “We view these properties as investments in our future and plan on developing them further with our partners in each location.” [NYO]Hiten Samtani


Related Articles

arrow_forward_ios
The Plaza Hotel, Sofitel New York at 45 West 44th Street and Le Bernardin at 155 West 51st Street (Credit: Yarl via Wikipedia Commons, Sofitel and Le Bernadin)

Mass layoffs claim jobs at the Plaza, Sofitel and Le Bernardin

Mass layoffs claim jobs at the Plaza, Sofitel and Le Bernardin
Plaza Hotel managing director George Cozonis with the Plaza Hotel at 768 5th Avenue (Credit: Cozonis by Fernanda Calfat/Getty Images)

The Plaza shuts down and lays off 251

The Plaza shuts down and lays off 251
1 Central Park South, 1007/1009 and Valery Kogan (inset)

Opulent Plaza Hotel unit listed for $45M

Opulent Plaza Hotel unit listed for $45M
Dream Hotel Group's Sant Singh Chatwal (left) and Charles Holzer (right) and 355 West 16th Street (Credit: Getty Images and Google Maps)

Land under Dream Downtown hotel sells
for $175M

Land under Dream Downtown hotel sells
for $175M
The Plaza’s many lives: How moguls, labor fights and a changing city shaped an icon

The Plaza’s many lives: How moguls, labor fights and a changing city shaped an icon

The Plaza’s many lives: How moguls, labor fights and a changing city shaped an icon
Plaza PH buyer spends $29M to expand aerie

Plaza PH buyer spends $29M to expand aerie

Plaza PH buyer spends $29M to expand aerie
Dream Hotel Group lands $56M loan for Midtown portfolio

Dream Hotel Group lands $56M loan for Midtown portfolio

Dream Hotel Group lands $56M loan for Midtown portfolio
How the Plaza was won: A look at Subrata Roy’s path to selling the landmark hotel

How the Plaza was won: A look at Subrata Roy’s path to selling the landmark hotel

How the Plaza was won: A look at Subrata Roy’s path to selling the landmark hotel
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...