11 April 2012
NEW YORK: Kingdom Holding, controlled by Saudi billionaire Prince Alwaleed bin Talal, plans to retain its stake in the Plaza Hotel after Sahara India Pariwar made an offer to buy the New York icon.
"Kingdom isn't planning on selling at this point in time," Charles Henry, a spokesman for the company, said yesterday in a telephone interview. "The prince's objective is to be a long-term investor in this kind of iconic asset."
Sahara India Pariwar, which bought London's Grosvenor House luxury hotel in 2010, made a $600 million offer to Israel's Elad Group for the Plaza Hotel, India's Economic Times reported April 6.
NEW YORK: Kingdom Holding, controlled by Saudi billionaire Prince Alwaleed bin Talal, plans to retain its stake in the Plaza Hotel after Sahara India Pariwar made an offer to buy the New York icon.
"Kingdom isn't planning on selling at this point in time," Charles Henry, a spokesman for the company, said yesterday in a telephone interview. "The prince's objective is to be a long-term investor in this kind of iconic asset."
Sahara India Pariwar, which bought London's Grosvenor House luxury hotel in 2010, made a $600 million offer to Israel's Elad Group for the Plaza Hotel, India's Economic Times reported April 6.
© Times of Oman 2012
