Kingdom Holding Company, controlled by Saudi billionaire Prince Al Waleed 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 Monday 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 (Dh2.2 billion) offer to Elad Group for the Plaza Hotel, India's Economic Times reported April 6. Kingdom in 2004 sold its stake in the hotel to Elad and bought back a portion soon after, Henry said.
No comments:
Post a Comment