Last Updated on July 28, 2026 by Daniel Globe
The Plaza Hotel, an iconic symbol of New York luxury, stands at the corner of Fifth Avenue and Central Park South. Since opening its doors in 1907, this Beaux-Arts landmark has drawn a clientele ranging from world leaders and royalty to Hollywood stars. Over more than a century, its real estate ownership has changed hands through some of the most high-profile transactions in American commercial real estate history. Here is the complete, up-to-date breakdown of who owns the Plaza Hotel today, its full ownership timeline, and how its management operates.
Quick Answer
The Plaza Hotel is 100% owned by Katara Hospitality, the hotel investment entity of the Qatar Investment Authority (QIA). Katara acquired full ownership in July 2018 for approximately $600 million, buying out India’s Sahara Group (75% stake) alongside minority partners Ashkenazy Acquisition Corp. and Kingdom Holding. Day-to-day operations are managed by Fairmont Hotels & Resorts (a brand under Accor).
Key Takeaways
- Current Owner: Katara Hospitality (Qatar’s sovereign wealth hotel arm) acquired 100% of the hotel property in July 2018 for $600 million.
- Management: The hotel operates as The Plaza, A Fairmont Managed Hotel under global hospitality group Accor.
- Property Division: Katara owns the hotel rooms, suites, retail space, and public areas. The 181 private residential condos inside the building are independently owned by individual unit buyers.
- Notable Past Owners: Historical owners include Conrad Hilton, Donald Trump, City Developments Limited (CDL) with Prince Alwaleed bin Talal, El Ad Group, and Sahara Group.
- Landmark Status: The Plaza is a designated New York City Landmark (1969) and a U.S. National Historic Landmark (1986).
Who Owns the Plaza Hotel Today: Katara Hospitality
In July 2018, Qatari state-owned hotel developer and operator Katara Hospitality acquired full ownership of the Plaza Hotel for approximately $600 million. Katara Hospitality serves as the primary hotel investment agency for the Qatar Investment Authority (QIA), Qatar’s sovereign wealth fund. Katara’s international luxury portfolio also includes prominent global landmarks such as The Savoy and The Connaught in London, as well as the Carlton Cannes in France.
The 2018 transaction consolidated 100% of the hotel’s ownership. Katara bought out the 75% controlling stake held by India’s Sahara Group (led by Subrata Roy), as well as the remaining 25% minority stake split between Ashkenazy Acquisition Corporation and Saudi Prince Alwaleed bin Talal’s Kingdom Holding Company. Sahara Group had held its stake since 2012, but spent years seeking a buyer following financial and legal issues in India.
Note: Sahara Group and Kingdom Holding no longer hold any equity stake in the Plaza Hotel. Articles listing Sahara Group as the current owner reflect outdated pre-2018 ownership data.
Understanding The Plaza’s Mixed-Use Real Estate Structure
A common point of confusion surrounding the Plaza Hotel is what the physical property actually encompasses. In 2004, Israeli-owned El Ad Properties purchased the building for $675 million and launched a comprehensive $450 million restoration and conversion project. This project split the building into two separate entities:
- The Hotel Portion (282 guest rooms and suites): Includes The Palm Court, The Oak Room, The Champagne Bar, The Grand Ballroom, retail concourses, and spa facilities. This entire commercial portion is what Katara Hospitality owns.
- The Residences at The Plaza (181 condominium units): Private residential apartments located on the upper floors with a dedicated private entrance on 58th Street. These individual units are privately owned by residential condo owners and are not part of Katara’s hotel ownership.
Pro Tip: While the private residences are strictly off-limits to hotel guests, public areas like The Palm Court (for afternoon tea) and the concourse shops are open to visitors regardless of whether you are staying overnight.
Full Ownership History of the Plaza Hotel (1907–Present)
Since opening on October 1, 1907, designed by architect Henry Janeway Hardenbergh in the French Renaissance Beaux-Arts style, the Plaza has transitioned through several distinct ownership eras:
| Era / Owner | Key Details & Purchase Price |
|---|---|
| US Realty & Construction (1907–1943) | Original developers led by Bernhard Beinecke, Fred Sterry, and Harry S. Black. Built the hotel for $12.5 million. |
| Conrad Hilton (1943–1953) | Purchased for $7.4 million in 1943; invested $6.0 million in extensive modernizations and refurbishments. |
| A.M. Sonnabend / Sonesta (1953–1975) | Bought by Hotel Corporation of America (later Sonesta International Hotels) for $15 million. |
| Western International / Westin (1975–1988) | Acquired by Westin Hotels parent company Allegis Corp for $25 million in 1975. |
| Donald Trump (1988–1995) | Purchased in 1988 for $407 million. Following bankruptcy filings in 1992, the hotel was transferred to lenders and sold in 1995. |
| CDL Hotels & Kingdom Holding (1995–2004) | Singapore-based City Developments Limited (CDL) and Prince Alwaleed bin Talal purchased a controlling stake for $325 million. |
| El Ad Group (2004–2012) | Purchased for $675 million. Executed a major $450 million restoration, converting upper floors into private residential condos. |
| Sahara Group (2012–2018) | India’s Sahara Group acquired a 75% controlling stake for $570 million, with Ashkenazy and Kingdom Holding retaining minority shares. |
| Katara Hospitality (2018–Present) | Acquired 100% full ownership of the hotel, retail, and commercial assets for $600 million in July 2018. |
Hotel Operations and Brand Management: Fairmont Hotels
While Katara Hospitality owns the physical asset and real estate, it does not directly manage day-to-day hotel operations. The hotel is operated under a long-term management agreement by Fairmont Hotels & Resorts, a luxury hotel brand owned by French multinational hospitality group Accor.
Fairmont has operated the hotel since 2005. Under this management agreement, the hotel is officially branded as The Plaza, A Fairmont Managed Hotel. Fairmont oversees staff, reservations, room service, housekeeping, concierge operations, and event management on behalf of Katara Hospitality.
Amenities and Pop-Culture Cultural Impact
Occupying a landmark position at Fifth Avenue and Central Park South, the Plaza offers 282 guest rooms, including 102 luxury suites. Notable amenities and public spaces include:
- The Palm Court: Famous for its stained-glass dome and traditional afternoon tea service.
- The Champagne Bar & Rose Club: High-end lounge venues overlooking Fifth Avenue.
- Guerlain Spa & Fitness Center: Luxury wellness amenities catering to guests and private condo residents.
- The Eloise Suite: Designed by fashion designer Betsey Johnson, themed around Kay Thompson’s famous children’s book series set at the hotel.
The Plaza’s pop-culture legacy includes prominent feature film appearances in classics like Home Alone 2: Lost in New York, North by Northwest, The Great Gatsby, and Sleepless in Seattle. It was designated a New York City Landmark in 1969 and listed as a U.S. National Historic Landmark in 1986.
The Plaza’s ownership history reflects a broader pattern in global luxury real estate, where trophy hotels increasingly pass into the hands of sovereign wealth funds and international investment groups.
Frequently Asked Questions
Who currently owns the New York Plaza Hotel?
The Plaza Hotel is 100% owned by Katara Hospitality, the hotel investment and development subsidiary of the Qatar Investment Authority (QIA), Qatar’s sovereign wealth fund.
When did Katara Hospitality acquire the New York Plaza Hotel?
Katara Hospitality completed its full acquisition in July 2018, purchasing 100% of the property for roughly $600 million from Sahara Group, Ashkenazy Acquisition Corp., and Kingdom Holding.
Does Donald Trump still own the Plaza Hotel?
No. Donald Trump purchased the Plaza in 1988 for $407 million. Following financial distress and a bankruptcy restructuring in 1992, he relinquished operational control and sold his remaining stake in 1995 to CDL Hotels and Prince Alwaleed bin Talal.
Is the Plaza Hotel part of a larger hotel chain?
While Katara Hospitality owns the real estate, the hotel is operated under a management contract by Fairmont Hotels & Resorts, which is owned by global hospitality company Accor.
Does Katara Hospitality own the private residential condominiums in the Plaza?
No. Katara Hospitality owns the commercial hotel portion (282 hotel rooms, restaurants, ballrooms, and retail space). The 181 luxury residential condominiums on the upper floors are independently owned by private condo buyers.
Has the ownership of the Plaza Hotel changed hands frequently?
Yes. Since opening in 1907, major owners have included US Realty, Conrad Hilton, A.M. Sonnabend (Sonesta), Westin Hotels, Donald Trump, CDL Hotels with Kingdom Holding, El Ad Group, Sahara Group, and currently Katara Hospitality.
Sources
- Wealth Management — Details Katara Hospitality’s $600 million 100% acquisition in July 2018
- Historic Hotels of America — Architectural history, National Historic Landmark designation, and Conrad Hilton ownership era
- The Plaza New York Official Site — Current operational details, Fairmont management confirmation, and guest amenities
- Fairmont Hotels & Resorts — Overview of brand operations and long-term luxury hotel management structures