Summary:
- Sultan of Brunei is exploring a purchase of New York’s Pierre Hotel, New York Post reports.
- Move follows renewed international investment in U.S. high-end property post-pandemic.
- Brunei representatives and current stakeholders have declined to comment.
SULTAN HASSANAL BOLKIAH, the ruler of Brunei, is exploring the purchase of the Pierre Hotel in New York City, according to the New York Post. The hotel is managed by Taj Hotels, a subsidiary of Indian Hotels Co. Ltd., which is part of the Tata Group, under a lease agreement with the property's co-operative owners.
Representatives of the Brunei royal family have begun preliminary talks to purchase the Pierre, a property overlooking Central Park, the Post reported.
However, no formal bid has been confirmed.
The Pierre Hotel, opened in 1930, is one of the few independently operated five-star hotels in Manhattan. Its mix of residences and hotel suites has long attracted a global clientele.
The move follows a rebound in international investment in U.S. high-end property after the pandemic slowdown.
Meanwhile, Business Line recently reported that Indian Hotels Co. Ltd’s U.S. operations have recovered, with consistent demand at the Pierre in New York and Campton Place in San Francisco. The Pierre generated EBITDA of $2 million in fiscal 2025.
Advantage New York market
A purchase by Sultan Bolkiah would come amid renewed overseas interest in New York’s ultra-luxury real estate market, according to reports. A weaker dollar, stabilizing tourism and easing capital controls have made prime U.S. assets more attractive to sovereign wealth funds and high-net-worth individuals.
Experts note that landmark assets like the Pierre offer long-term value and align with the investment profiles of royal families and global investors. The Brunei Investment Agency, which manages the Sultan’s portfolio, has historically focused on hospitality, including ownership of London’s Dorchester Collection.
The Pierre’s ownership change could affect its management or positioning, though analysts expect its legacy appeal to remain. However, Brunei representatives and current stakeholders have declined to comment.
If completed, the deal would reinforce the flow of foreign capital into high-end hotel assets in global gateway cities, the report said. Similar transactions have occurred in London, Paris and Singapore, as investors target trophy properties with lasting reputations.
Separately, UK-based Nanak Hotels acquired the 60-room Kings Court Hotel in Warwickshire, England, for £2.75 million (about $3.74 million). It is the firm’s first regional acquisition, led by British Indians Harpreet Singh Saluja and Karamvir Singh.