Sahara informs court that 2 New York hotels have been sold

NEW DELHI: Sahara group on Monday said it has sold two of its hotels in New York, ETNow reported quoting sources. The group has been raising funds by selling assets in India and abroad for depositing money in a special investor refund account set up on orders from the Supreme Court.

Earlier a PTI report suggested that the group was looking to sell New York's Dream Downtown Hotel, where it held 85 per cent stake. Besides, it was looking its offload its entire 70 per cent stake in the Plaza, where US President Donald Trump, a real estate tycoon and owner of the luxurious property, married his second wife Marla Maples in December 1993.

While details are not out, a PTI report had earlier suggested that the group was in talks with a West Asian enterprise for sale of a majority stake in these two prime New York hotels.