Hotel

United Capital Real Estate is suing Subrata Roy, chairman of Sahara India Pariwar, as well as its U.S. entity, alleging that they breached an agreement by seeking a separate deal.

The Bethesda, Maryland-based real estate investment trust has interviewed advisers regarding the portfolio sale.

The losing suitor, Pebblebrook Hotel Trust, “was provided with material nonpublic information” during the sale process LaSalle said in a filing with the SEC.

Hotels appear to be a particularly good fit for retail centers, which tend to have ample parking, prime locations and shopping, restaurants and entertainment options readily available for travelers.

Investors like Blackstone are drawn to the strong, long-term demand they see for hotel properties.

The clash between the investors is another twist in a years-long sales process for the 111-year-old building at the corner of Fifth Avenue and Central Park South.