Brunei to add 1,000 new luxury rooms in NY and London to its portfolio?

1 min reading time

Published on 18/08/14 - Updated on 17/03/22

Dream Hotel New York

The Sultan of Brunei, a small sovereign state in Southeast Asia, is rumoured to have bidded for the takeover of 2 luxury hotels in New York and the Grosvenor Hotel in London, according to the Wall Street Journal. Despite being recently criticized for having implemented the shariah in their home state (which led celebrities to call for a boycott of Brunei-owned hotels), Brunei officials may indeed keep purchasing new luxury hotels.

Brunei keeps hunting for new trophy hotel assets. Indeed, according to the Wall Street Journal and Times of London, two hotel properties in New York (Plaza Hotel and Dream Hotel) and the Grosvenor Hotel in London, are the Sultan's new targets. A $2 billion bid (about 1.4 billion euros) could be...

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