The Plaza Hotel to be Acquired by Sahara Group

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According to The Economic Times, the famed Plaza Hotel in New York City is being acquired by the Sahara Group, an Indian company, for $600 million. The Sahara Group operates the Taj Boston, as well as a hotel in Mumbai. Taking over the Plaza Hotel could put the company on the mainstream map.

It is reported that an advance has already been paid for the 105-year old hotel.

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