New York's Plaza, Dream Downtown heading to auction | hotelsmag.com

The famed Plaza Hotel and the Dream Downtown in New York City are expected to be auctioned off at foreclosure on April 26 by the mortgage holders, billionaire brother David and Simon Reuben, according to a Bloomberg report. The move will serve to end a two-year ordeal over the state of the hotels’ ownership after current majority owner Subrata Roy of Sahara India Pariwar went to jail in India for defrauding investors.