• Sunday, December 04, 2022

Business

‘Very compelling’ offer for Sahara’s hotels abroad

The new offer for Subrato Roy’s Sahara Group hotels may trigger a bidding war

By: Eastern Eye Staff

India’s Sahara group is said to be considering a $1.3 billion (£980 million) offer from a new suitor for its three prized overseas hotels, including London’s Grosvenor House and the Plaza hotel in New York. A consortium of family office investors, comprising Britain’s 3 Associates (led by Jesdev Saggar) and others from the Middle East, made the offer to acquire Sahara group’s majority stake in the three marquee hotel properties – the Grosvenor House in London, the Park and Dream Downtown hotels in New York. Managing director at 3 Associates, Saggar, said they made Sahara a “very compelling offer” and…

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