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Cops are investigating high-flying Manhattan hotelier Vikram Chatwal for alleged animal cruelty, after he was spotted trying to set two dogs on fire, witnesses and law enforcement said on Sunday.

The scary incident happened at about 1:30 p.m. Friday when dog walker Isabell Suquilanda, 29, and her pooches strolled past 21 Wooster St. and a man screamed at them in a foreign language, police said.

The man — later identified as Chatwal, founder of the Dream, Night and Time boutique hotels — then whipped out a lighter and aerosol can to blow flames at the terrified pups, witnesses told cops.

Chatwal babbled that dogs have fleas and thus needed to be destroyed, bystanders recalled.

“They must die!” the hotelier screamed during the attempted torching, according to witnesses. Several good Samaritans jumped in separate Chatwal from the dogs, who suffered minor burns, law enforcement sources said.

Witness Roxanne Robles said she couldn’t believe her eyes during the attack.

“I was walking down the street, and I saw this guy crouching and aggressively circling this woman and the dogs screaming at them, with a lighter and aerosol can spraying fire on the dogs,” Robles told The Post on Sunday.

“I was screaming my head off, `What the f–k are you doing?!’ I interrupted it.”

Robles said she hasn’t been able to get the horrific scene out of her mind all weekend.

“It was like a fire- breathing dragon, shooting out flames 2 to 3 feet long,” she said. “This isn’t OK. You can’t walk the streets lighting dogs on fire and think your life can go on as usual.”

Another witness shot cell phone footage of four NYPD cruisers descending on a combative Chatwal.

As a personal assistant dragged Chatwal into his Wooster Street home, the babbling hotel owner seemed to tell cops they couldn’t touch him.

“You guys don’t have me, I have you,” he screamed in footage viewed by The Post.

Police allegedly have cell phone video of Chatwal returning to the scene several minutes and apologizing for his despicable acts, the dogs’ owner told police.

A man who works in the neighborhood said he didn’t see the alleged attack, but chatted with a disheveled Chatwal — wearing his hair in a man bun and donning sweatpants and a sweatshirt — later on Friday.

“The guy was muttering, he was telling me he was on anti-depressants,” the neighborhood employee said. “He said he has ticks and fleas in his apartment and he blames the dogs.”

The 44-year-old hotelier Chatwal is a regular on the Manhattan party scene will be featured on an upcoming reality show produced by the TV wing of Lionsgate, Page Six reported earlier this year.

The hotel kingpin was busted in 2013 for drug possession at Fort Lauderdale/Hollywood International Airport in Florida — but the case was dropped after he finished rehab.

A rep for the hotel chain declined comment Sunday on Chatwal’s behalf.

Additional reporting by David K. Li