You’ve seen it in Home Alone 2. You’ve read about it in Eloise. Maybe you’ve even braved the tourists to grab a $25 cocktail at the Palm Court. But if you’re trying to figure out who owns the Plaza Hotel in NYC, you’re walking into a tangled web of international shell companies, billionaire brawls, and a sovereign wealth fund that finally ended the chaos.
Honestly, the ownership history of this building at 768 Fifth Avenue reads more like a soap opera than a real estate ledger.
The Short Answer (The Current Boss)
Since 2018, the Plaza Hotel is 100% owned by Katara Hospitality.
If that name doesn't ring a bell, think bigger. It’s a state-owned enterprise based in Doha, basically the hospitality arm of the Qatar government. They bought the whole thing—lock, stock, and gold-plated faucets—for roughly $600 million.
Who Owns the Plaza Hotel in NYC and How Did They Get It?
Before the Qataris stepped in, the Plaza was essentially a giant, fancy headache. For years, the majority owner was Sahara India Pariwar, led by Subrata Roy. If you follow international business news, you know Roy’s story is... complicated. He ended up in jail in India, and the Indian government ordered him to pay back billions to investors.
Because of that, the Plaza was basically "for sale" for half a decade while lawyers fought over who had the right to buy it.
It was a mess.
At one point, a group of investors led by Shahal Khan and Kamran Hakim thought they had a deal. Then, the minority owners—Ashkenazy Acquisition Corp. and Saudi Prince Alwaleed bin Talal—sued, claiming they had a "right of first refusal" to match any offer. In the end, Katara Hospitality swept in, bought out Sahara's 75% stake and the minority owners' 25%, and cleared the deck.
Ownership vs. Management
Don't get it twisted: owning the bricks isn't the same as running the breakfast service. While Qatar owns the building, Fairmont Hotels & Resorts actually manages the day-to-day operations. Fairmont is a subsidiary of Accor, a massive French hospitality giant. So, if your towels aren't fluffy enough, you're complaining to the French, but the Qatari government owns the land they're sitting on.
A Legacy of Famous (and Infamous) Owners
You can't talk about who owns the Plaza Hotel in NYC without mentioning the man who once called it his "Mona Lisa."
Donald Trump bought the Plaza in 1988 for about $400 million. He famously put his then-wife, Ivana Trump, in charge as president. But the "Mona Lisa" proved expensive to keep. By 1992, the hotel was under bankruptcy protection, and Trump eventually lost his grip on it to a partnership between Prince Alwaleed and the Singaporean CDL Hotels.
Before Trump, there was Conrad Hilton. He bought it in 1943 for a cool $7.4 million. Imagine that. You can barely buy a one-bedroom condo in the Plaza's residential wing for that price today.
What You Should Know About the Residential Split
The Plaza isn't just a hotel anymore. It hasn't been since the mid-2000s. When El Ad Properties owned it (before Sahara), they spent $450 million to split the building into two distinct worlds:
- The Hotel: 282 guest rooms (owned by Katara).
- The Residences: 181 luxury condos.
These condos are owned by individuals—billionaires, CEOs, and celebrities. When you look up at the windows, you're looking at private property that has nothing to do with the hotel ownership.
Why the Qatar Acquisition Matters
Qatar isn't just buying hotels for fun. They’ve been on a shopping spree for "trophy assets" for years. They own The Savoy and The Connaught in London. Buying the Plaza was a strategic move to park oil and gas wealth into stable, prestigious Western real estate.
Some critics wondered if a foreign government owning such a quintessentially American landmark would change the vibe. So far? Not really. The Plaza still feels like the Plaza. The doormen still wear the white gloves. The afternoon tea is still overpriced.
Actionable Insights for Your Next Visit
If you're planning to visit or just want to sound like an insider, keep these facts in your back pocket:
- The Eloise Suite: It’s still there. Even with the change in ownership, the hotel leans hard into its literary history.
- The Food Hall: Located in the basement, it’s a separate entity from the formal dining upstairs. It's a great way to "experience" the Plaza without the $500 dinner bill.
- Check the Management: If you’re a member of the Accor Live Limitless (ALL) program, you can use points here because of the Fairmont management deal, even though the building is Qatari-owned.
The ownership of the Plaza has finally stabilized after years of legal drama. For the first time in a long time, there isn't a "For Sale" sign—invisible or otherwise—hanging over the fountain. It’s tucked away in a sovereign portfolio, likely to stay there for a very long time.