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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.