Prince Al Waleed close to acquiring New York’s The Plaza Hotel

Saudi Arabia’s Prince Al Waleed is reportedly ready to buy the iconic New York hotel The Plaza (presently managed by Fairmont Hotels) after its majority shareholder Indian multi-millionaire Subrata Roy was jailed for contempt of court, according to Express.

The hotel is 75 percent owned by Roy, while remaining 25 percent is held by Prince Alwaleed. Alwaleed said, “If the opportunity comes up whereby we can increase our stake we will. We will look at the deal when it comes, when Sahara decides eventually to push the button and act on this matter.”

The Plaza Hotel, New York