Group Makes $1.3 Billion Offer for Grosvenor House, Plaza Hotels | bloomberg.com

A U.K. multifamily office and two Middle Eastern partners submitted a $1.3 billion bid for London’s Grosvenor House hotel and majority stakes in New York’s Plaza and Dream Downtown hotels to majority owner Sahara India Pariwar, controlled by once-jailed Indian businessman Subrata Roy. The bidders “are committing our own capital resources to acquire all three” hotels, Jesdev Saggar, managing director of the U.K.