Two deals are all it took the Sahara Group to let the global hospitality industry know it meant business. By acquiring two of the most iconic hotel properties in the world — the Grosvenor House in London and the Plaza in New York — for $1.3 billion, at a time when no one expected it to, the group looks settled in the high-end hospitality business. The Subrata Roy-led group is now scouting for palace properties in France. It is also learnt to be in talks with the Marriott group to buy its portfolio in the UK…Experts say the group is considering a three-pronged approach — acquire trophy assets, buy portfolios or multiple properties and create its own brand.
Beyond buying these flashy, trophy property, remains to be seen if Sahara doesn’t flame out, which it does have a tendency to in various sectors it operates in.
Oyo’s Annual Losses Ballooned to $335 Million in 2019
How Houston Embraced Augmented Reality to Enhance the Visitor Experience
Lastminute.com Pushes Into India With HolidayIQ Deal
India’s MakeMyTrip Rewards Exec for Loyalty Work With Group CEO Promotion
The Story of Oyo’s Troubles Is the Story of Modern India