
Times of India reports Sahara India Group will acquire the Plaza Hotel in New York City for $570 million.
Sahara will own 75 percent of the Plaza with the remainder owned by Saudi billionaire Prince Alwaleed bin Talal's Kingdom Holding. Sahara India Group is also attempting to acquire a series of Marriott hotels in London.The Times of India sites a "source close to the negotiation" that the deal is expected to be announced by the end of this month. It will be the second major hotel acquisition by the Sahara Group after it recently purchased Grosvenor House Hotel in London for 470 million pounds.

