The Plaza Hotel to be Acquired by Sahara Group

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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