Sahara Group Acquires landmark New York Plaza and Dream Downtown hotels

Last updated on Nov 28, 2012

Posted on Nov 28, 2012

Subrata Roy’s Sahara group is buying two iconic hotels in Manhattan near the Central Park.  The New York Plaza and Dream New York are going to be theirs for

4,400 crore ($800 million).

They will buy 75% stake in New York Plaza – of which 60 percent is with the Israeli entrepreneur Isaac Tshuva’s Elad Properties and 15% from 15 percent from Kingdom Holdings, owned by Prince Alwaleed bin Talal for USD 400 and 170 million respectively.  One finds that rather interesting – a hotel owned by an Israeli businessman and a Saudi prince 🙂

They will pay USD 220 million to the Indian hotelier Vikram Chatwal for the Dream Downtown.

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