Qatar fund buys Sahara-owned Plaza Hotel for $600 million

The Plaza Hotel, one of New York’s most iconic buildings in which Subrata Roy-led Sahara India group has majority stakes, has been fully acquired by a Qatar Government-owned fund for about $600 million, according to a media report on Wednesday.

Qatar’s State-owned Katara Holding has acquired full ownership of the hotel, including a 75 per cent stake from Subrata Roy-led Sahara India Pariwar for about $600 million, according to the Wall Street Journal.

The “surprise buyer” is a hospitality fund that buys and manages hotels around the world for the Qatar Government.

Katara bought the 75 per cent stake held by the Sahara Group and the 25 per cent stake from New York real-estate investor Ashkenazy Acquisition Corp. And its partner Saudi Prince al-Waleed bin Talal, it said.