Who Owns Plaza New York: Ownership Insights

If you’ve ever wondered who owns plaza new york, the short answer is that the iconic Plaza Hotel on Fifth Avenue is owned by Qatar’s state-owned hospitality group, Katara Hospitality. The building is both a luxury hotel and a landmark. It attracts attention for its history and high-end residences.

Key Takeaways

• The Plaza Hotel New York is fully owned by Katara Hospitality, a state-owned luxury hotel group based in Doha, Qatar, which acquired 100% of the property in 2018 for approximately $600 million.
• Katara purchased the hotel from Sahara India Pariwar (75%), Kingdom Holding Company, and Ashkenazy Acquisition Corporation (25%), consolidating complete ownership under one entity for the first time in decades.
• Fairmont Hotels & Resorts, part of the Accor Group, manages the hotel’s daily operations under a long-term agreement, while Katara oversees financial strategy, preservation, and long-term investment.

Plaza New York Overview

The Plaza Hotel New York, often called The Plaza, is one of the most famous and luxurious hotels in the world. Located at 768 Fifth Avenue, at the corner of Central Park South and 59th Street, the Plaza has been a defining feature of Manhattan’s skyline and culture since its opening in 1907.

The Plaza isn’t just a hotel — it’s an institution. Its name represents elegance, old-world charm, and cinematic fame, appearing in movies like Home Alone 2: Lost in New York and The Great Gatsby. The hotel has hosted presidents, royals, and global celebrities, making it a symbol of timeless luxury in the heart of New York City.

As of 2025, The Plaza Hotel functions as a mixed-use property — part luxury hotel, part private residence, and part retail destination. It operates under the Fairmont Hotels & Resorts brand (owned by the Accor Group) under a management agreement, but the Plaza name remains its strongest identity.

The Plaza offers 282 hotel rooms and suites, including 102 private condominium units, event spaces, a grand ballroom, restaurants, and luxury boutiques. The property is classified as a New York City Landmark (since 1969) and a National Historic Landmark (since 1986).

Its ownership structure may have changed over time, but the Plaza has retained its distinct brand identity — a blend of historical heritage and modern five-star service.

Origin and Early History

The Plaza’s origins date back to the early 20th century, when a group of New York financiers and hotel developers sought to create a hotel that could rival the great European establishments.

The original Plaza Hotel opened in 1890 but was demolished just 15 years later to make way for a grander structure. The current building, which opened on October 1, 1907, was developed by Harry S. Black, president of the Fuller Construction Company, which financed and constructed the new hotel.

The architectural design was created by Henry Janeway Hardenbergh, the same architect behind The Waldorf Astoria and The Dakota. His Beaux-Arts and French Renaissance-inspired design remains one of the most admired in American architecture.

When it opened, the Plaza was hailed as “the world’s most luxurious hotel.” Rooms started at $2.50 per night — a significant sum at the time — and the hotel immediately became a favorite of the city’s elite.

Major Milestones

• 1890: The first Plaza Hotel opens on the same site, but is demolished in 1905 to build a larger property.
• 1905: Construction begins on the new Plaza Hotel under developer Harry S. Black and architect Henry J. Hardenbergh.
• 1907: The Plaza Hotel officially opens on October 1, costing around $12.5 million to build.
• 1910s: The Plaza becomes the social epicenter of Manhattan, hosting elite gatherings, political meetings, and weddings.
• 1919–1922: Major expansion adds new wings and the Grand Ballroom, designed by architects Warren & Wetmore.
• 1927: The hotel’s famous Palm Court receives its signature stained-glass dome, becoming a symbol of New York luxury.
• 1943: Conrad Hilton purchases the Plaza for about $7.4 million, integrating it into the growing Hilton Hotels empire.
• 1953: Hilton sells the property to hotel magnate A.M. Sonnabend, who continues upgrades and modernizations.
• 1955: The children’s book Eloise at the Plaza by Kay Thompson is published, making the hotel a pop-culture icon.
• 1969: The Plaza is officially designated a New York City Landmark, protecting its historic architecture.
• 1986: The hotel is named a National Historic Landmark, recognizing its national cultural importance.
• 1988: Donald Trump buys The Plaza for $407 million, calling it “the Mona Lisa of hotels.” He renovates the property but struggles financially due to debt.
• 1992: Creditors take control following Trump’s financial troubles. Ownership restructures to include Citibank and new investors.
• 1995: The Plaza is purchased by City Developments Limited (CDL) of Singapore and Prince Al-Waleed bin Talal of Saudi Arabia.
• 2004: The hotel is sold to El Ad Properties for $675 million. Plans are made to convert part of the hotel into luxury condominiums.
• 2005–2008: The Plaza closes for a $450 million renovation. It reopens in March 2008, with restored public spaces and new private residences.
• 2012: Indian conglomerate Sahara India Pariwar acquires a 75% stake in the hotel for about $570 million.
• 2018: Qatar’s Katara Hospitality purchases all outstanding shares for around $600 million, taking 100% ownership of The Plaza.
• 2020: The Plaza closes temporarily due to the COVID-19 pandemic, halting all hotel operations for the first time in decades.
• 2021: The Plaza reopens with enhanced safety measures, reintroducing luxury experiences and updated amenities.
• 2022: The hotel appoints Luigi Romaniello as Managing Director to oversee operations and reinforce its elite status.
• 2023–2025: The Plaza continues to serve as both a five-star hotel and residential property, maintaining its reputation as one of the world’s premier addresses.

Who Owns Plaza New York?

As of 2025, The Plaza Hotel New York is fully owned by Katara Hospitality, a state-owned luxury hotel investment and management company based in Doha, Qatar. Katara Hospitality is part of the Qatari government’s global real estate and tourism investment strategy, with assets spanning across Europe, the Middle East, Asia, and North America. The Plaza is one of its most prestigious and symbolic properties outside Qatar.

Below is an overview of the Plaza Hotel New York ownership as of October 2025:

• Current Owner (2025): Katara Hospitality (Qatar)
• Acquisition Year: 2018
• Acquisition Price: Approx. $600 million
• Acquired From: Sahara India Pariwar (75%), Kingdom Holding, and Ashkenazy Acquisition Corp (25%)
• Ownership Type: 100% sole ownership
• Operator: Fairmont Hotels & Resorts (under Accor Group)
• Headquarters of Owner: Doha, Qatar
• Estimated Current Value (2025): $750+ million
• Ownership Focus: Preservation, long-term investment, heritage hotel portfolio expansion.

How Katara Hospitality Acquired The Plaza

Katara Hospitality acquired 100% ownership of The Plaza Hotel in July 2018. The deal was valued at approximately $600 million, according to multiple reports. The purchase included both the hotel portion and the condominium residences still under centralized management.

Before Katara’s acquisition, the property was jointly owned by several investors: Sahara India Pariwar held a 75% controlling stake, while Kingdom Holding Company (owned by Saudi Prince Al-Waleed bin Talal) and Ashkenazy Acquisition Corporation together held the remaining 25%.

Katara negotiated directly with these shareholders and bought out their stakes in a single coordinated transaction, effectively consolidating all ownership under one entity. The acquisition also marked the end of years of disputes and financial complications surrounding the hotel’s previous owners.

The purchase allowed Katara to take full control of one of New York’s most famous landmarks and strengthen its international portfolio of high-end heritage hotels.

Acquisition Details and Timeline

• Negotiation period: 2017–mid-2018
  Katara entered negotiations when Sahara India Pariwar was ordered by Indian regulators to liquidate some overseas assets to repay investors. The Plaza, along with London’s Grosvenor House Hotel and New York’s Dream Downtown Hotel, became part of Sahara’s sell-off list.
• Purchase completion: July 2018
  Katara Hospitality successfully closed the deal in July 2018, paying around $600 million to acquire 100% of the Plaza’s shares.
• Transfer of ownership:
  After the transaction, Katara became the sole legal owner of the Plaza Hotel property, including the hotel’s brand, operations (through its Fairmont management contract), and associated residential units that remained under the main ownership structure.
• Management continuity:
  Despite the ownership change, Katara retained Fairmont Hotels & Resorts as the operator, under a long-term management agreement. Fairmont, part of Accor Group, continues to manage daily hotel operations, guest services, and staff, while Katara oversees capital strategy, branding, and investment.

Katara Hospitality’s Strategic Control

Katara Hospitality is wholly owned by the Qatari government and operates under the broader umbrella of Qatar Investment Authority (QIA), the country’s sovereign wealth fund. The Plaza acquisition aligned with Qatar’s national strategy to expand its global hospitality footprint by investing in world-famous heritage properties.

Through its ownership, Katara exercises full financial and strategic control over the Plaza, including decisions about:

• Long-term renovations, branding, and preservation of its landmark architecture
• Oversight of Fairmont’s operational standards and service excellence
• Capital investments to maintain its five-star luxury positioning
• Integration into Katara’s global network of luxury properties for branding consistency

Katara is known for a “buy-and-preserve” approach, focusing on historic hotels rather than mass tourism developments. The Plaza fits that portfolio perfectly, joining properties like:

• The Savoy (London) – also under Fairmont management
• Raffles Hotel (Singapore)
• Bürgenstock Resort (Switzerland)
• Excelsior Hotel Gallia (Milan)

By owning The Plaza, Katara has positioned itself among the few state-backed investors that hold stakes in some of the world’s most legendary hotels.

Management and Preservation

Katara Hospitality is known for preserving historical architectural integrity. Since acquiring The Plaza, Katara has invested in discreet structural and aesthetic upgrades to maintain its historic charm while meeting modern luxury standards.

Renovations under Katara’s ownership have focused on:

• Restoring original marble floors, chandeliers, and oak paneling
• Enhancing sustainability and energy efficiency in guest suites
• Modernizing event facilities and the Grand Ballroom
• Upgrading digital guest services while retaining the hotel’s early 20th-century ambiance

Under Katara’s stewardship, The Plaza continues to operate as both a luxury hotel and a residential landmark, blending history, hospitality, and high-end living.

Previous Owners of The Plaza Hotel New York

The Plaza Hotel’s ownership history spans over a century and includes some of the world’s most prominent real estate developers, hotel magnates, financiers, and even celebrities. Since its opening in 1907, control of The Plaza has changed hands multiple times, often reflecting economic cycles and shifts in the global luxury market.

Below is a complete breakdown of The Plaza’s previous owners, their acquisition details, ownership periods, and major contributions or controversies during their tenure:

1. Early Ownership (1907–1943): The Original Developers and Early Hotel Companies

When The Plaza opened in 1907, it was developed by Harry S. Black, president of the Fuller Construction Company, which financed and built the property. Initially, it was owned by a syndicate of investors under the Fuller organization, which operated it as an independent luxury hotel.

Throughout the 1910s and 1920s, The Plaza was managed by different hotel companies that specialized in luxury hospitality. It quickly became profitable and was recognized as one of America’s premier hotels. Ownership during this era was largely institutional, tied to investment partnerships rather than a single owner.

This period established the Plaza’s reputation as “The World’s Most Luxurious Hotel.”

2. Hilton Hotels Corporation (1943–1953)

In 1943, Conrad Hilton, founder of Hilton Hotels, purchased The Plaza for approximately $7.4 million. At the time, Hilton was expanding aggressively across the United States and wanted a flagship property in New York City.

Under Hilton’s ownership, The Plaza underwent significant modernization, including new elevators, improved electrical systems, and redecorated rooms. Hilton frequently called The Plaza one of the jewels of his growing empire.

However, after a decade of ownership, Hilton sold the property to focus on expanding elsewhere.

3. A.M. Sonnabend / Hotel Corporation of America (1953–1972)

In 1953, Hilton sold The Plaza to A.M. “Sonny” Sonnabend, head of the Hotel Corporation of America (later known as Sonesta). Sonnabend continued the modernization efforts and successfully managed the property through the 1950s and 1960s.

This was also when The Plaza became deeply ingrained in American culture — thanks to the publication of Eloise at the Plaza (1955) by Kay Thompson and illustrations by Hilary Knight, which turned the hotel into a household name worldwide.

Sonnabend’s group maintained high occupancy rates and preserved the hotel’s grandeur while making it more accessible to a new generation of travelers.

4. Westin Hotels / Western International Hotels (1972–1988)

In 1972, ownership of The Plaza transferred to Western International Hotels, which later became Westin Hotels. Under Westin’s ownership, The Plaza was refreshed again and maintained its position as a premier luxury destination.

During the 1970s and early 1980s, Westin promoted The Plaza as part of its “flagship luxury collection.” The hotel hosted major political gatherings, film productions, and cultural galas.

Westin also introduced contemporary amenities while maintaining the Beaux-Arts architecture and historic interiors.

5. The Trump Organization (1988–1995)

In 1988, Donald J. Trump, then a rising real estate developer, purchased The Plaza Hotel for $407 million from Westin Hotels. Trump called the acquisition “the Mona Lisa of hotels.”

He financed the purchase heavily with debt and vowed to restore the property’s grandeur, investing tens of millions of dollars in renovations. His wife at the time, Ivana Trump, was appointed to oversee the redesign and management.

However, Trump’s over-leveraging caused financial difficulties. By 1992, due to heavy debt, creditors forced a restructuring that transferred control of The Plaza to a group of lenders. Trump retained a small stake but lost controlling ownership.

Despite the outcome, Trump’s period at the Plaza remains one of the most publicized eras in its history, intertwining the property’s legacy with New York’s late-1980s financial culture.

6. City Developments Limited (Singapore) & Prince Al-Waleed bin Talal (Saudi Arabia) (1995–2004)

Following Trump’s financial collapse, The Plaza was acquired in 1995 by a joint consortium of:

• City Developments Limited (CDL), a Singapore-based real estate group led by the Kwek family, and
• Prince Al-Waleed bin Talal, through his Kingdom Holding Company.

Each reportedly held 42% ownership, while Citibank retained the remaining 16% stake as part of the debt settlement.

This ownership period stabilized The Plaza financially. CDL and Kingdom Holding invested in maintenance and preservation, but largely maintained its traditional design. The hotel continued to operate profitably and regained its position as a global hospitality icon.

7. El Ad Properties (2004–2012)

In 2004, The Plaza was sold to El Ad Properties, an Israeli real estate firm owned by Yitzhak Tshuva, for about $675 million. El Ad launched an ambitious project to convert part of the hotel into private condominium residences, while retaining hotel operations in a smaller footprint.

Between 2005 and 2008, The Plaza underwent a $450 million renovation. The project preserved the landmark’s historic interiors while transforming upper floors into luxury condos and retail spaces.

The Plaza reopened in March 2008, marking a new hybrid era: part hotel, part residential palace.

El Ad’s ownership turned the Plaza into one of Manhattan’s most prestigious residential addresses, with condos selling for tens of millions of dollars each.

8. Sahara India Pariwar (2012–2018)

In 2012, Indian conglomerate Sahara India Pariwar, led by Subrata Roy, acquired a 75% controlling stake in The Plaza for approximately $570 million from El Ad Properties.

Sahara’s investment also included other luxury assets such as the Dream Downtown Hotel (New York) and Grosvenor House Hotel (London). Initially, Sahara intended to expand its international luxury portfolio.

However, financial and regulatory troubles in India forced the company to sell its overseas assets.

By 2018, Sahara agreed to sell its entire 75% stake in The Plaza as part of a court-mandated liquidation effort.

9. Katara Hospitality (2018–Present)

In July 2018, Katara Hospitality, the Qatari state-owned luxury hotel investment firm, purchased 100% of The Plaza Hotel for approximately $600 million. The deal included Sahara’s 75% stake, as well as minority stakes from Kingdom Holding and Ashkenazy Acquisition Corporation.

This acquisition marked the first time The Plaza came under single ownership in over three decades. Katara immediately became the sole owner and retained Fairmont Hotels & Resorts (part of the Accor Group) as the hotel’s operator.

Under Katara, The Plaza continues to function as both a luxury hotel and private residence, with restored interiors, landmark preservation, and a focus on sustainable modernization.

As of 2025, Katara Hospitality remains the sole and long-term owner of The Plaza Hotel New York.

Who Controls and Runs The Plaza New York?

The Plaza Hotel New York operates under a dual-structure model common in the global luxury hospitality industry:

• Ownership control belongs to Katara Hospitality, which holds 100% of the property and strategic decision-making rights.
• Operational management is handled by Fairmont Hotels & Resorts, part of the French hotel group Accor, which oversees the day-to-day running of the hotel.

This structure ensures that while Katara directs long-term investment and property strategy, Fairmont manages the daily guest experience, staff, branding, and service quality.

Decision-Making Structure at The Plaza

Control and decision-making at The Plaza follow a clear hierarchy:

1. Katara Hospitality (Doha Headquarters) –
   Owns the property outright. Approves major investments, renovations, and strategic partnerships.
2. Fairmont Hotels & Resorts (Accor Group) –
   Manages day-to-day hotel operations, guest services, staffing, and branding. Reports performance metrics to Katara.
3. Managing Director and Onsite Executive Team –
   Oversees departments including Rooms Division, Food & Beverage, Sales & Marketing, Events, and Guest Relations. Handles local operational issues, guest satisfaction, and compliance.

This structure ensures operational independence under global oversight — maintaining brand quality, financial discipline, and cultural integrity.

Katara Hospitality – The Controlling Owner

As of 2025, Katara Hospitality, a state-owned hotel investment and development company based in Doha, Qatar, exercises full ownership and control over The Plaza Hotel.

Katara acquired 100% of The Plaza in 2018 for around $600 million, purchasing it from Sahara India Pariwar, Kingdom Holding Company, and Ashkenazy Acquisition Corporation.

Control and Strategic Oversight:
Katara’s role is that of a strategic asset owner rather than an operator. It is responsible for:

• Setting The Plaza’s long-term investment direction
• Approving major renovation and capital expenditure decisions
• Maintaining compliance with preservation and landmark regulations
• Aligning the Plaza with Katara’s global luxury brand portfolio.

Katara’s approach is centered on preservation and prestige rather than rapid turnover. The Plaza fits into its broader strategy of owning iconic heritage hotels in world capitals — similar to its ownership of The Savoy in London and the Raffles Singapore.

The Qatari government ultimately owns Katara Hospitality through the Qatar Investment Authority (QIA), the country’s sovereign wealth fund. This backing gives Katara financial stability and ensures that The Plaza benefits from state-level funding, allowing for long-term planning rather than short-term profit cycles.

Fairmont Hotels & Resorts – The Operator and Brand Manager

While Katara owns the building, the day-to-day operations of The Plaza are handled by Fairmont Hotels & Resorts, under a management agreement.

Fairmont, a Canadian luxury hotel brand founded in 1907, is now part of Accor Group, one of the world’s largest hospitality companies. It manages several iconic hotels, including The Savoy (London), Raffles (Singapore), and The Fairmont San Francisco.

Fairmont’s Responsibilities at The Plaza include:

• Managing hotel operations, guest services, staff, and maintenance
• Upholding brand standards for luxury, cleanliness, and hospitality
• Overseeing food & beverage outlets, events, and room service
• Implementing marketing, loyalty, and reservation systems (via Accor)
• Reporting performance and operational data to Katara Hospitality.

Fairmont ensures The Plaza maintains consistency with its brand image while respecting the property’s distinct New York heritage.

This partnership has created a balance between heritage preservation and modern five-star operation, maintaining The Plaza’s reputation as one of the world’s most prestigious hotels.

The Managing Director – Onsite Leadership

At the hotel level, The Plaza New York is led by a Managing Director, who oversees all daily operations and reports directly to Fairmont’s regional executives and indirectly to Katara’s asset management division.

As of 2025, Luigi Romaniello serves as the Managing Director of The Plaza Hotel New York.

Romaniello is a veteran hotelier with more than 30 years of experience in international luxury hospitality. Before joining The Plaza, he held senior management roles at high-end hotels in the Middle East, Asia, and North America, including several Fairmont and Raffles properties.

Under his leadership, the Plaza has emphasized:

• Guest personalization and luxury experience
• Revitalization of iconic venues like The Palm Court
• Enhanced staff training programs for world-class service
• Balancing heritage restoration with modern amenities.

His leadership combines operational excellence with respect for the Plaza’s cultural and architectural significance.

Fairmont Regional and Accor Group Oversight

The Plaza also falls under the North & Central America regional division of Fairmont Hotels & Resorts, which is part of the Accor Group’s luxury brand portfolio.

This provides additional layers of operational governance:

• Regional executives ensure that The Plaza meets Fairmont’s service benchmarks.
• Accor’s luxury division supports marketing, guest loyalty programs (ALL – Accor Live Limitless), and training initiatives.
• Corporate leadership collaborates with Katara on long-term strategies such as sustainability goals, digital transformation, and brand repositioning.

Through this structure, The Plaza benefits from both global brand expertise and owner-level investment support, allowing it to maintain its position among the world’s most elite hotels.

Plaza New York Annual Revenue and Net Worth

As of October 2025, The Plaza Hotel generates estimated annual revenues in the range of $200–300 million, with net operating income varying by year. Its net worth (market value) is widely estimated to be around $1 billion, depending on real estate valuation, residential unit sales, and hotel profitability. These figures reflect its dual nature as both a luxury hotel and a high-end residential property in one of the world’s most desirable locations.

Revenue

The Plaza’s revenue grew from roughly $190 million in 2015 to an estimated $275–300 million in 2025, reflecting its recovery and renewed strength in New York’s post-pandemic luxury hospitality market. The dip in 2020 highlights the severe impact of COVID-19, when the hotel temporarily closed and revenues plunged to about $60 million, but the years following saw a steady rebound driven by tourism revival, premium event bookings, and strong condominium performance.

In 2025, strong tourism in New York City has allowed the hotel to command high room rates and high occupancy in peak seasons. Assuming an average daily rate (ADR) in the luxury segment and occupancy near 70–80 percent, room revenue alone would contribute a substantial portion of total income. Added to that, high-margin event and banquet business—especially weddings, corporate galas, and fashion events—boosts revenue further.

Comparable industry benchmarks and public hotel data suggest that a flagship, iconic hotel in a major city can generate gross revenues in the several hundreds of millions of dollars. In the case of The Plaza, public-estimate trackers list its revenue in the general ballpark of $100–500 million annually. This wide band reflects the influence of external factors (economic cycles, tourism, pandemic recovery). In stronger years, it likely reaches closer to the upper bound of that range.

However, net revenue is lower once operating costs, staffing, maintenance (especially for a historic landmark), utilities, and capital expenditure are deducted. The high maintenance demands of a century-old building, regulatory compliance for historic preservation, and the cost of luxury service push expenses significantly higher than for a standard modern hotel.

Net Operating Income and Profitability

Net operating income (NOI) for the Plaza depends not only on gross revenue but on cost discipline and expense control. In years without extraordinary capital work, margins for flagship luxury hotels often fall in the 20–30 percent range (after direct operating expenses).

Given estimated revenues of, say, $250 million, a 25 percent NOI margin would yield about $62.5 million in net operating income before taxes, depreciation, and interest. But this is a hypothetical example; actual margins can be lower in years with heavy restoration or upgrades, or higher in boom years.

Moreover, the residential condominium component adds complexity: some revenue and profit come from condo-owner fees, maintenance assessments, and service charges. Those flows may contribute more stable income than the hotel side. In total, the Plaza’s blended profitability benefits from diversification across hotel and residential revenue streams.

Net Worth / Market Valuation in 2025

The net worth or market value of The Plaza in 2025 is driven by a combination of its income yield (capitalization of NOI), real estate comparables, and the value of condominium units.

When Katara acquired The Plaza in 2018, its purchase price was approximately $600 million. Over the years, rising real estate values in Midtown Manhattan, a rebound in luxury tourism, and improvements under Katara’s ownership have likely appreciated its value. Many analysts and observers estimate its value as of October 2025 to be $750 million to over $1 billion, depending on assumptions.

The hotel’s estimated valuation rose from $650 million in 2015 to between $850 million and $1 billion by 2025, boosted by rising Manhattan real estate prices and Katara Hospitality’s ownership investments. This steady growth underscores The Plaza’s enduring global reputation and resilience as both a historic landmark and a profitable luxury property, maintaining its position as one of the most valuable hotels in New York City.

The condominium units within the Plaza, which are individually owned or marketed, play an outsized role in valuation. High-end residential real estate in that part of Manhattan commands premium per-square-foot prices. When a single condo unit sells for tens of millions, the aggregate effect boosts the property’s worth beyond the hotel’s pure operational value.

Additionally, intangible value—brand prestige, media exposure, architectural significance—adds a multiplier effect to valuation. Buyers often pay a “trophy premium” for landmark hotels, especially one as storied as The Plaza.

Sensitivities & Risks

While revenue and value are high, they are also sensitive to external risks. Economic downturns, declines in international travel, regulatory changes, or costly structural repairs can reduce profitability or force capital outlays that weaken margins. Because The Plaza is a landmark, restoration mandates may require expensive works that cut into free cash flow.

Also, changes in residential market preferences (luxury high-rises, amenities, location trends) could affect condo resale prices. If condo values soften, that drags down the total asset valuation.

Finally, hotel yield depends on yield management (pricing, occupancy, and event booking). Poor performance or stiff competition from newer luxury hotels could erode revenue growth.

Given strong market demand in New York, continued tourism growth, and Katara’s commitment to preservation and investment, The Plaza’s revenue is likely to grow at low double digits annually (5–10 percent range) in stable years. Its value, especially given real estate inflation in Manhattan, could stretch beyond $1 billion in optimistic scenarios.

Brands Owned by Plaza New York

Beyond its fame as a luxury landmark, The Plaza Hotel New York operates a network of in-house brands, dining venues, and hospitality entities that define its world-class experience.

Below is a list of brands, entities, and in-house operations owned by the Plaza New York:

The Plaza Hotel

The Plaza Hotel is the core operating entity that runs guest rooms, suites, front-desk services, reservation systems, and overall hotel operations under the Fairmont management agreement.

This in-house organization handles room inventory, revenue management, housekeeping, concierge, in-house sales, group & events sales, and large-scale guest operations that define the hotel business. The hotel operations are organized as a hospitality business unit at the property level and report into the Fairmont regional structure while serving Katara as the owner.

The Plaza Residences

The Plaza Residences refers to the condominium component of the property — private residential units that occupy upper floors and are part of the same building address (768 Fifth Avenue / 1 Central Park South).

While many individual apartments are privately owned, the condominium entity (the building’s condominium association and property-level management) sits under the Plaza’s property structure. That condominium organization governs building services for owners, collects common charges, manages residential amenities, and coordinates building preservation work tied to the landmark property.

The residences are a major revenue and value driver for the Plaza asset.

The Palm Court

The Palm Court is owned and operated by the hotel as its flagship dining venue. It is an in-house brand of The Plaza and provides afternoon tea service, breakfast, lunch, and evening dining in the hotel’s signature landmark space.

The Palm Court is a core front-of-house operation managed directly by the Plaza’s food & beverage division (executive chef, restaurant management, and service teams), and it plays a central role in the hotel’s branding, events, and guest experience.

The Oak Room & Oak Bar

The Oak Room and the Oak Bar occupy historic ground-floor space and are part of the Plaza’s owned venue inventory. These spaces function as hotel-operated meeting, dining, and bar venues used for private events, reservations, and public dining.

Depending on specific lease decisions over time, the Oak Room has occasionally been leased to third-party restaurateurs for operations, but as of the most recent property descriptions, it remains one of the Plaza’s signature, on-site venues integrated with hotel event and banquet sales.

The Plaza Boutique & Eloise Shop

The Plaza operates its own retail boutique on the lobby level. The Plaza Boutique sells hotel-branded merchandise, gifts, books (including Eloise items), and exclusive Plaza souvenirs.

The hotel controls this retail brand as a property amenity and revenue stream, handling merchandising, pricing, and retail staffing directly at the property level. The Plaza also controls the “Eloise” branded merchandise and experiences that tie into the hotel’s cultural IP.

The Plaza Food Hall

The Plaza Food Hall is a curated, upscale food market located in the hotel’s concourse/basement. The food hall is a property-level concept run out of Plaza space: the hotel leases and manages vendor relationships and the overall retail footprint.

Individual vendors inside the hall (bakeries, patisseries, specialty food counters) are typically independent operators or tenant brands that lease counters or kiosks; the Plaza manages the hub, amenities, hours, and overall guest flow for the venue.

The food hall is an owned asset of the Plaza property (leased to third-party F&B operators) and contributes retail and F&B revenue streams to the hotel’s mix.

Spa, Salon & Wellness Partnerships

The Plaza operates an on-site spa and wellness floor that is run through a mix of hotel-owned programs and branded partnerships.

For example, 111SKIN SPA/CLINIC operates inside The Plaza as a branded spa tenant/partner while The Plaza’s property wellness team and in-house fitness center deliver hotel wellness services.

The hotel manages the physical spa spaces and coordinates bookings, while partner spa brands operate their treatment menus under licensing/lease models. This hybrid approach lets the Plaza offer best-in-class spa brands while maintaining property-level control over guest wellness experiences.

Grand Ballroom, Meeting Rooms, and Event Spaces

The Plaza directly owns and operates its Grand Ballroom, Edwardian Room, Terrace Room, and multiple meeting rooms. These event spaces are managed by the hotel’s in-house events and catering team and form a critical revenue engine—especially for weddings, corporate functions, galas, and fashion events.

The Plaza’s event organization controls inventory, pricing, vendor approvals, and execution of large-scale events in these owned venues.

Property Management & Condominium Association Entity

The Plaza maintains a property-level management and condominium association structure that governs building maintenance, preservation works, common areas, and owner services. That entity oversees long-term capital projects, landmark compliance, façade and roof works, and the complex coordination between hotel operations and private residence needs.

While units are individually owned, the association and property manager operate under Plaza governance to deliver consistent standards across the mixed-use asset.

Final Thoughts

The Plaza is a layered asset. It is a hotel, a residence building, and a cultural icon. Ownership today rests with Katara Hospitality. Management is by Fairmont. The building’s history includes famous owners and several ownership restructurings. The Plaza’s value is both financial and symbolic. Its future will follow hospitality trends and the investment strategy of its Qatari owner.

FAQs

Who owns The Plaza New York?

As of 2025, The Plaza Hotel New York is fully owned by Katara Hospitality, a state-owned luxury hotel and investment company based in Doha, Qatar. Katara acquired 100% ownership of the property in 2018 for approximately $600 million and remains the hotel’s sole owner.

Who is the owner of The Plaza Hotel NYC?

The current owner of The Plaza Hotel NYC is Katara Hospitality. The company owns and oversees the property’s strategic operations, while Fairmont Hotels & Resorts manages its day-to-day hospitality functions under a long-term management agreement.

Who owns the NYC Plaza Hotel?

The NYC Plaza Hotel is owned by Katara Hospitality, a Qatari government-backed luxury hotel group. The acquisition in 2018 made Katara the first single owner of the Plaza in more than 30 years.

Does Trump own The Plaza?

No, Donald Trump no longer owns The Plaza Hotel. He purchased it in 1988 for $407 million, but financial difficulties forced him to surrender control to creditors in 1992. The property has since changed hands multiple times and is now owned by Katara Hospitality.

How long did Donald Trump own The Plaza Hotel?

Donald Trump owned The Plaza Hotel from 1988 to 1992 — a period of roughly four years. During his ownership, he renovated the property and appointed his then-wife, Ivana Trump, as president of the hotel, but eventually lost control due to heavy debt restructuring.

Who is the little girl who lives at The Plaza in New York?

The “little girl who lives at The Plaza” refers to Eloise, the fictional character from the classic children’s book Eloise at the Plaza written by Kay Thompson and illustrated by Hilary Knight in 1955. Eloise is portrayed as a spirited six-year-old who lives at the hotel and has become an enduring symbol of The Plaza’s charm.

How much is The Plaza in New York worth?

As of October 2025, The Plaza Hotel’s estimated market value is between $850 million and $1 billion. The valuation includes both the hotel and its luxury condominium residences, reflecting its status as one of Manhattan’s most prestigious and valuable properties.

Does Hilton own The Plaza?

No, Hilton does not own The Plaza Hotel. While Conrad Hilton once owned the property from 1943 to 1953, it has changed ownership several times since then. The current owner is Katara Hospitality of Qatar.

Who owned The Plaza Hotel in 1992?

In 1992, the Plaza Hotel was owned by a group of creditors and investors led by Citibank after Donald Trump lost control of the property due to financial difficulties. The ownership was later transferred in 1995 to City Developments Limited (Singapore) and Prince Al-Waleed bin Talal’s Kingdom Holding Company.