Activists threaten campaign against Brunei sultan’s Plaza bid

Ruler said to be close to buying iconic hotel for $2.2B

TRD New York /
Aug.August 15, 2014 04:50 PM

Human rights groups and celebrities have been protesting the Beverly Hills hotel to voice their displeasure with its owner, the Sultan of Brunei — and New York’s Plaza Hotel could be their next target.

Sultan Hassanal Bolkiah is said to be close to ponying up $2.2 billion for stakes in the iconic property and two others owned by Indian property firm the Sahara Group, which needs the proceeds to bail out its imprisoned chief executive, Subrata Roy, the New York Daily News reported.

But now activists are piping up, asking New Yorkers to oppose the transaction and saying the property should not belong to a ruler who recently implemented a penal code that authorizes punishments such as flogging and stoning, according to the newspaper. Brunei counts as offenses adultery and same-sex relationships, and groups like the Human Rights Campaign worry that harsh punishments could be meted out to women and gays.

New York-based investment firm Madison Capital Holdings recently entered a $800 million bid for the hotel portfolio, which includes the Dream Hotel Downtown and London’s Grosvenor House Hotel, but the sultan has emerged as the lead bidder, according to the Daily News. [NYDN]Tom DiChristopher


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...