Hotel Development Manhattan

Famed Plaza Hotel Is On the Block - Wall Street Journal

Excerpt from Wall Street Journal

Majority-owner, an Indian conglomerate, hires a broker to sell the New York landmark

The Indian owners of the Plaza Hotel have hired a broker to sell the New York City landmark, a sign that a world-wide scramble among investors, celebrities and governments to acquire the property could be nearing an end.

Sahara Group, a Lucknow, India-based conglomerate and the hotel’s majority owner, has enlisted JLL Hotels and Hospitality Group, a unit of real-estate firm JLL, to find a buyer, according to a person...


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