Dream Downtown Could Be Someone Else's Dream Now

August 6, 2012 at 9:34 AM | by ASchechter | Comments (0)

Update: We just want to reiterate that the Dream Downtown's possible sale to the Sahara Group is just speculation at this point. Now get back to your regularly scheduled Dreaming.

Everyone's going down, down, down downtown, including some deep-pocketed Indian investors who recently fronted $570 million for a controlling stake in the Plaza.

The Sahara Group, who also picked up the JW Marriott Grosvenor House in late 2010, is reportedly on a spending spree, and New York hotels are hot, so hot right now. The NY Times reports that Sahara Group may be about to acquire Chatwal's Dream Downtown.

Apparently, a few other brands (Walforf-Astoria, Mandarin Oriental and Four Seasons) are also reportedly on Sahara's radar. Better watch out!

The Dream brand has been in a managing and franchising partnership with Wyndham Hotels for over a year now but despite our initial concerns that the Chatwals' involvement with the hotels might go poof!, a source close to the hotel insists the Chatwals are very much involved with the brand and the Dream Downtown itself.

Most importantly, none of this behind the scenes real estate wheeling and dealing has affected the hotel's popularity a bit. It's actually one of New York's hottest hotels (thanks in part to its trendy pool, hard-to-get-to rooftop bar, and chic, nautical-themed rooms.) If a new sugar daddy somehow gets involved, then it should only get better from here on out.

If you're as excited as us to see what happens with this place, watch this space for more!

And to read our full-length review of the Dream Downtown from when it first opened, click here!

[Photo: HotelChatter]

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