Sultan of Brunei Making a Bid for New York's Plaza Hotel | wsj.com
The Sultan of Brunei is making a play for one of the world's most storied hotels, according to people familiar with the process. An investment vehicle affiliated with Brunei has offered to pay about $2 billion to acquire New York's iconic Plaza Hotel, London's Grosvenor House and the Dream Hotel in lower Manhattan, these people said. The Sultan, along with his luxury hotel operator, the Dorchester Collection, has come under fire for harsh new laws enacted in the southeast Asian Islamic country.
