India's Sahara Group is planning to acquire a majority stake in the Beverly Hilton Hotel, a move that will enhance its presence in the hospital sector.

Sahara Group is looking to acquire 55 per cent stake in Beverly Hilton Hotel for about $340 million from Oasis West Realty. The Beverly Hilton, which has 570 rooms, is located at the intersection of Wilshire and Santa Monica boulevards in Beverly Hills. The hotel was opened to guests in 1955 by Conrad Hilton and famous television personality Merv Griffin owned the hotel from 1987 to 2003.