The Sahara Group, fresh after a string of acquisitions of marquee hotel properties in the UK and the US, is in talks with US-based Oasis West Realty to pick up a controlling stake in Beverly Hilton hotel, a landmark Los Angeles property that has been hosting the Golden Globe Awards.
The owner of Oasis, Beny Alagem, had approached Sahara to sell 55% stake in the iconic hotel for about $340 million ( Rs 1,900 crore), a person with knowledge of the development said. Sahara group Chairman Subrata Roy confirmed that his group was in talks. "They had approached us sometime ago and we are in negotiations." Oasis was not immediately available for comment. A public relations firm representing the firm did not respond to emailed queries sent by ET seeking information on the talks. The Sahara group last month bought a majority stake in New York's iconic Plaza hotel for Rs 3,200 crore, the second iconic property it has purchased in recent years. In 2010 it acquired the Grosvenor Hotel in London.
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