Last Updated on July 25, 2026 by Daniel Globe
The Plaza Hotel at Fifth Avenue and Central Park South is currently owned by Katara Hospitality, a Qatar-based hotel owner, developer, and operator. Katara acquired full ownership of the famous New York hotel in 2018. Fairmont Hotels & Resorts manages and brands the property, so the hotel’s owner and operator are not the same company.
Quick Answer
Katara Hospitality owns The Plaza Hotel in New York City. The Qatar-based company acquired full ownership in 2018 in a deal reported at approximately $600 million. Fairmont Hotels & Resorts manages the hotel, while Katara remains the property’s owner.
Key Takeaways
- Katara Hospitality is the current owner of The Plaza Hotel.
- Katara acquired full ownership in 2018 in a transaction reported at about $600 million.
- Sahara Group previously held a 75% controlling stake from 2012 until the 2018 sale.
- Fairmont Hotels & Resorts manages and brands the hotel but does not serve as its current property owner.
- The Plaza is a landmarked mixed-use property that includes hotel accommodations and private residences.
Who Currently Owns The Plaza Hotel?
Katara Hospitality currently owns The Plaza Hotel. Katara is a global hospitality company based in Qatar and connected to the Qatar Investment Authority. Its official hotel portfolio lists The Plaza as an owned property.
Katara took full ownership in 2018. The company described the purchase as its first hotel acquisition in the United States and added The Plaza to a portfolio that includes other well-known luxury hotels around the world.
Note: Owning a hotel is different from managing it. Katara Hospitality owns The Plaza, while Fairmont Hotels & Resorts manages the hotel’s daily operation, reservations, service standards, and brand identity.
The Plaza Hotel Ownership Timeline
| Year | Owner or Event | What Changed |
| 1907 | The current Plaza Hotel opens | The present building opened on October 1, 1907, replacing an earlier hotel on the site. |
| 1943 | Conrad Hilton and Atlas Corporation | Hilton acquired the hotel and later updated several public areas. |
| 1988 | Donald Trump | Trump acquired The Plaza for $390 million. |
| 1995 | Kingdom Holding and international investors | A partnership led by Prince Alwaleed bin Talal and Singapore-based investors acquired the hotel from Trump’s creditors. |
| 2004 | Elad Properties and Kingdom Holding | Elad acquired the hotel and began a major redevelopment that included hotel, residential, and retail space. |
| 2012 | Sahara Group | Sahara acquired a 75% controlling stake for approximately $570 million. Kingdom Holding retained 25%. |
| 2018 | Katara Hospitality | Katara acquired full ownership in a transaction reported at approximately $600 million. |
History of The Plaza Hotel
The current Plaza Hotel was designed by architect Henry Janeway Hardenbergh and opened on October 1, 1907. Its château-like exterior, prominent location, public rooms, and luxury service quickly made it one of New York City’s best-known hotels.
The hotel has hosted political leaders, entertainers, business figures, weddings, galas, and major cultural events. It also appears in F. Scott Fitzgerald’s The Great Gatsby and films such as North by Northwest and Home Alone 2: Lost in New York.
The Plaza changed owners many times as New York’s hotel and real-estate markets evolved. Conrad Hilton acquired it in 1943. Donald Trump purchased it in 1988 for $390 million but later lost control of the property during a financial restructuring. A partnership involving Kingdom Holding acquired it in 1995, and Elad Properties took control in 2004.
Elad closed the hotel in 2005 for a major restoration and mixed-use redevelopment. The property reopened in 2008 after a project reported at approximately $450 million. The work restored protected public rooms while converting parts of the building into private residences and other uses.
The Plaza has operated at Fifth Avenue and Central Park South for more than a century, but its ownership has changed repeatedly as the hotel moved through different financial and redevelopment periods.
Sahara Group’s Ownership of The Plaza Hotel
Sahara Group entered The Plaza’s ownership structure in 2012. The Indian conglomerate agreed to pay approximately $570 million for a 75% controlling interest.
The transaction included Elad Properties’ 60% interest and an additional 15% interest. Kingdom Holding retained the remaining 25% after the deal. This means Sahara was the majority owner, but it did not initially hold 100% of the property.
Fairmont continued to manage the hotel during the Sahara period. The hotel’s operation and guest experience therefore remained connected to Fairmont even though the controlling ownership interest had changed.
Did Sahara Group Complete the Major Plaza Restoration?
No. The largest modern restoration associated with The Plaza took place before Sahara became the controlling owner. The hotel closed in 2005 and reopened in 2008 after an extensive restoration and conversion led during the Elad Properties ownership period.
Claims that Sahara launched or completed that major restoration confuse two different periods in the hotel’s history. Sahara’s verified role was primarily that of controlling shareholder from 2012 until the sale to Katara Hospitality in 2018.
Katara Hospitality’s Acquisition of The Plaza Hotel
In July 2018, reports identified Katara Hospitality as the buyer of full ownership of The Plaza. The transaction was valued at approximately $600 million and included Sahara Group’s 75% stake.
Katara’s official acquisition announcement describes The Plaza as the company’s first hotel acquisition in the United States. Katara’s current portfolio continues to list The Plaza among its owned hotels.
The acquisition moved the hotel from a split ownership structure to full ownership by Katara Hospitality. It also ended Sahara Group’s six-year period as controlling shareholder.
Who Manages The Plaza Hotel?
Fairmont Hotels & Resorts manages The Plaza. The hotel is marketed as The Plaza, A Fairmont Hotel, and reservations are available through Fairmont and Accor’s hotel platforms.
Fairmont is responsible for the hotel brand and normal hotel operation. Katara Hospitality owns the property. This arrangement is common in the hotel industry, where one company owns a building and another company operates it under a management agreement.
Fairmont currently describes The Plaza as having 282 guest rooms and suites, including 102 suites. The building also contains residential units, so the hotel operation is only one part of the larger mixed-use property.
Pro Tip: When checking a hotel’s ownership, look separately for the property owner, management company, and hotel brand. All three names may appear on booking pages or business records, but they perform different roles.
Does Katara Hospitality Own Every Residence in The Plaza?
The Plaza is a mixed-use building that includes hotel rooms, condominium-style hotel units, private residences, event spaces, restaurants, and retail areas. Some private residential units may have their own individual owners.
Therefore, saying that Katara Hospitality owns The Plaza refers to its ownership of the hotel asset and related property interests. It should not be interpreted as a claim that Katara personally owns every privately titled residential condominium inside the building.
The Plaza Hotel’s Landmark Status
The Plaza’s historic status affects how the property can be maintained and changed. The exterior became a New York City landmark in 1969. The hotel was added to the National Register of Historic Places in 1978 and designated a National Historic Landmark in 1986.
In 2005, New York City also protected several important public interior spaces. These include areas associated with the Palm Court, Grand Ballroom, Terrace Room, Oak Room, Oak Bar, and major lobbies and connecting spaces.
Landmark protection does not prevent maintenance or renovation, but changes to protected features require careful planning. Owners must balance modern hotel standards with the preservation of historically important architectural details.
Challenges of Owning The Plaza Hotel
Owning The Plaza involves more than running a luxury hotel. The owner must maintain an aging landmark building, protect important interiors, coordinate with a global hotel manager, and address the needs of hotel guests, residents, event clients, and commercial occupants.
The mixed-use structure can also make ownership descriptions confusing. News reports may refer to the sale of “The Plaza Hotel,” while legal and property documents may separate hotel units, private residences, commercial areas, and other interests.
These factors help explain why The Plaza has attracted major investors but has also experienced complicated transactions and financial restructurings during its history.
The Future of The Plaza Under Katara Hospitality
Official Katara Hospitality materials continue to identify The Plaza as part of the company’s owned hotel portfolio. Fairmont also continues to market and operate the property as a Fairmont hotel.
Future renovations, restaurant changes, and guest-service updates may occur as part of normal luxury-hotel operation. However, claims about a major new project should be based on a dated announcement from Katara Hospitality, Fairmont, The Plaza, or the New York City Landmarks Preservation Commission.
The Plaza’s location, landmark status, residential component, and cultural history make it a distinctive property. Katara’s ownership and Fairmont’s management currently provide the two main answers readers need when identifying who controls and operates the hotel.
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Frequently Asked Questions
Who currently owns The Plaza Hotel in New York?
Katara Hospitality currently owns The Plaza Hotel. Katara is a Qatar-based hotel owner, developer, and operator.
When did Katara Hospitality acquire The Plaza Hotel?
Katara Hospitality acquired full ownership in 2018. The transaction was reported at approximately $600 million.
Did Sahara Group own The Plaza Hotel?
Sahara Group held a 75% controlling stake from 2012 until 2018. Kingdom Holding retained 25% after the 2012 transaction. Katara later acquired full ownership.
Who manages The Plaza Hotel?
Fairmont Hotels & Resorts manages The Plaza. Katara Hospitality owns the hotel, while Fairmont handles its hotel operation and brand.
Is The Plaza Hotel part of a hotel chain?
Yes. The property operates as The Plaza, A Fairmont Hotel. Fairmont is its management company and hotel brand, even though Katara Hospitality is the property owner.
Does Katara Hospitality own every private residence in The Plaza?
Not necessarily. The Plaza is a mixed-use building with hotel accommodations and individually owned residential units. Katara’s ownership refers to the hotel asset and related property interests, not automatically every privately titled residence.
Are major renovations planned under the current ownership?
Hotels regularly update rooms, restaurants, and services, but major project claims should be confirmed through a dated announcement from Katara Hospitality, Fairmont, The Plaza, or New York City’s Landmarks Preservation Commission.
Sources
- Katara Hospitality hotel portfolio — confirms that Katara currently lists The Plaza as an owned hotel.
- Katara Hospitality acquisition announcement — confirms Katara’s acquisition and Fairmont’s management role.
- The Plaza official history timeline — supports the opening date, Trump acquisition, restoration, and major cultural events.
- Fairmont’s official Plaza Hotel page — supports the Fairmont affiliation and current room-and-suite information.
- National Park Service National Historic Landmarks list and New York City interior landmark report — support the hotel’s federal and city landmark status.
- Reuters report on Sahara’s 2012 investment and Reuters report on Katara’s 2018 purchase — support the ownership percentages and reported transaction values.