Last Updated on July 26, 2026 by Daniel Globe
The Plaza Hotel at Fifth Avenue and Central Park South is one of New York City’s best-known luxury hotels, but its ownership history can be confusing. The property has changed hands many times since the current building opened in 1907, and today the distinction between the hotel’s owner, its operator, and owners of private residences inside the building matters.
Quick Answer
Katara Hospitality, a Qatar-based hospitality asset owner and manager, owns The Plaza hotel in New York. It acquired the hotel ownership interests in 2018. Fairmont Hotels & Resorts manages the hotel. The landmark building also contains condominium residences, so ownership of the hotel does not mean ownership of every private residence.
Key Takeaways
- Katara Hospitality is the current owner of The Plaza hotel and still lists the New York property in its international portfolio as of July 2026.
- Fairmont Hotels & Resorts manages The Plaza; management and ownership are separate roles.
- Katara acquired the hotel ownership interests in 2018 in a transaction widely reported at about $600 million.
- Donald Trump owned a controlling interest from 1988 until 1995, but a 1992 restructuring gave lenders a 49% stake before his remaining interest was sold.
- The Plaza became a mixed hotel-and-condominium property after its 2000s redevelopment, so some private residences have separate owners.
Who Owns the Plaza Hotel in NYC Today?
As of July 2026, Katara Hospitality is the owner of The Plaza hotel. Katara’s current portfolio specifically lists “The Plaza, A Fairmont Managed Hotel, New York” among its international operating properties.
Katara acquired The Plaza in 2018. Contemporary reporting placed the transaction at roughly $600 million, with the deal bringing the hotel ownership interests held by Sahara India Pariwar and the other investors under Katara’s control.
Owner vs. Operator: Katara Hospitality and Fairmont
Owning a hotel and operating it are not necessarily the same thing. Katara Hospitality owns The Plaza as a hospitality asset, while Fairmont Hotels & Resorts runs the hotel operation.
Katara’s own acquisition announcement identifies Fairmont as The Plaza’s manager. That arrangement lets the property have one investment owner while another hospitality company handles areas such as reservations, guest service, rooms, dining, and day-to-day hotel operations.
Note: When an article says Fairmont “runs” The Plaza, that does not mean Fairmont currently owns the hotel. Katara Hospitality is the asset owner; Fairmont is the hotel operator.
Does Katara Own the Entire Plaza Building?
The answer requires another distinction. The Plaza is now a mixed-use property containing hotel accommodations as well as condominium residences. New York City planning records show that during the El Ad redevelopment, the former 805-room hotel was planned to be reduced to 284 hotel rooms, with the balance converted into approximately 181 residential condominium units.
That means ownership of “The Plaza Hotel” should not be interpreted as Katara owning every separately deeded private residence in the building. The hotel and commercial ownership interests can be controlled by the hotel owner while individual condominium residences have their own owners.
History of the Plaza Hotel and Its Ownership
The current Plaza Hotel was not conceived by Conrad Hilton. According to The Plaza’s official history, the project was the vision of financier Bernhard Beinecke, hotelier Fred Sterry, and Harry S. Black, president of the Fuller Construction Company.
They acquired an older hotel of the same name on the site and replaced it with the present building. Architect Henry Janeway Hardenbergh designed the 19-story hotel with the grand, French-chateau-inspired character for which it became famous. The new Plaza officially opened on October 1, 1907.
Alfred Gwynne Vanderbilt is important to The Plaza’s early history, but not because he purchased it in 1921. He was the hotel’s first registered guest when it opened in 1907.
The current Plaza opened on October 1, 1907, replacing an earlier hotel of the same name on one of Manhattan’s most prominent corners.
The Plaza quickly became a gathering place for wealthy residents, travelers, public figures, and major social events. Its public rooms later became as culturally important as its guest accommodations, helping make the hotel a frequent setting for films, literature, celebrations, and New York social history.
Plaza Hotel Ownership Timeline
The Plaza’s ownership changed repeatedly during the 20th and early 21st centuries. The timeline below corrects several commonly repeated errors and simplifies some periods in which ownership involved partnerships or multiple investors.
| Owner / Ownership Group | Approximate Period |
| Plaza Operating Company / U.S. Realty interests | 1902–1943 |
| Atlas Corporation / Conrad Hilton | 1943–1953 |
| A. M. Sonnabend and family interests | 1953–1974 |
| Western International Hotels / Westin | 1974–1987 |
| Robert M. Bass and Aoki Corporation interests through the Westin acquisition | 1987–1988 |
| Donald Trump, with lenders holding 49% after the 1992 restructuring | 1988–1995 |
| CDL Hotels International / Prince Alwaleed-led investment interests, with Fairmont involvement | 1995–2004 |
| El Ad-led ownership / joint venture | 2004–2012 |
| Sahara-led joint venture with Kingdom Holding and Chatwal interests | 2012–2018 |
| Katara Hospitality | 2018–present |
Conrad Hilton’s Ownership: 1943–1953
The Plaza Operating Company owned the current hotel and its predecessor from 1902 until 1943. That year, the Atlas Corporation, which was affiliated with Conrad Hilton, acquired the hotel.
Hilton’s decade of ownership did leave a visible mark on the property. The New York City Landmarks Preservation Commission’s Plaza Hotel Interior designation report records renovations to the Fifth Avenue Lobby and Palm Court area as well as the creation of the Oak Bar. Hilton sold The Plaza to Boston industrialist A. M. Sonnabend in 1953.
From the Sonnabend Family to Westin
The Sonnabend family controlled the hotel until 1974. Western International Hotels, later known as Westin, then moved to acquire it and invested heavily in restoration work.
Robert M. Bass and the Aoki Corporation acquired the Westin hotel chain in 1987. The Plaza itself was sold separately to Donald Trump the following year.
Donald Trump’s Plaza Hotel Ownership: 1988–1995
Donald Trump bought The Plaza in 1988, not in 1992. The early 1990s brought serious financial pressure, however, and the hotel went through a prepackaged bankruptcy restructuring in 1992.
Under that restructuring, Citibank and five other lenders received a combined 49% stake. Trump retained a 51% controlling interest but no longer had the same unrestricted ownership position.
In 1995, the remaining controlling interest was sold in a deal involving CDL Hotels International and Prince Alwaleed bin Talal. The transaction valued The Plaza at approximately $325 million. This is the source of the $325 million figure sometimes incorrectly attached to Trump’s original purchase.
El Ad, the Condominium Conversion, and the 2008 Restoration
El Ad Properties purchased The Plaza in 2004 for $675 million. Its redevelopment fundamentally changed the structure of the property.
An official New York City Department of City Planning report described a proposal to reduce the old 805-room hotel to 284 hotel rooms and convert the remaining space into approximately 181 residential condominium units.
The property underwent a large restoration and reopened in 2008 with hotel accommodations, residences, and commercial space. This mixed-use structure is one reason modern discussions of “who owns The Plaza” require more precision than they did when it was purely a conventional hotel.
Sahara’s 2012 Acquisition
El Ad did not remain the controlling owner until 2018. In November 2012, Sahara India Pariwar acquired a 70% majority interest from El Ad. According to Milbank’s transaction record, Kingdom Holding retained a 25% stake and a group associated with hotelier Sant Singh Chatwal acquired the remaining 5%.
The 2012 transaction was valued at $575 million and included the hotel unit, retail units, and previously unsold condominium-hotel units.
Katara Hospitality’s 2018 Acquisition
Katara Hospitality acquired The Plaza’s hotel ownership interests in 2018. The purchase was completed in July of that year and was widely reported at approximately $600 million.
Katara later described The Plaza as its first acquisition in the United States and said the property fit its strategy of holding prominent hospitality assets for the long term. The company continues to list The Plaza in its current international portfolio.
Legal Disputes and Controversies Surrounding Plaza Hotel Ownership
Some of the biggest controversies in The Plaza’s ownership history involved finance and historic preservation rather than ordinary hotel operations.
Trump’s Financial Restructuring
Trump’s ownership became entangled with the broader financial problems affecting his businesses in the early 1990s. The Plaza’s 1992 prepackaged bankruptcy plan gave lenders a 49% ownership interest. Although Trump retained 51% and remained chief executive, reporting at the time said he would not receive a salary or control day-to-day operations.
The remaining controlling interest was sold in 1995. Describing that entire period simply as Trump “losing the hotel in 1995” misses the important 1992 transfer of nearly half the ownership to creditors.
The El Ad Conversion and Historic Preservation
El Ad’s plans to convert much of The Plaza from hotel rooms to luxury residences raised major preservation questions because the building was already a New York City landmark.
The exterior had been designated a New York City Landmark in 1969. In 2005, the Landmarks Preservation Commission also designated major public interiors, including the Palm Court, Fifth Avenue Lobby, 59th Street Lobby, Edwardian Room, Oak Room, Oak Bar, Terrace Room, Grand Ballroom, and associated circulation spaces.
Those protections matter because future owners cannot treat The Plaza like an ordinary commercial building. Alterations to designated spaces are subject to New York City’s landmark-preservation rules and review.
Pro Tip: When checking reports about a possible Plaza renovation or redevelopment, look for both an ownership announcement and, where landmarked spaces are affected, records from the New York City Landmarks Preservation Commission.
Future Plans for the Plaza Hotel and Its Ownership
As of July 2026, Katara Hospitality’s current portfolio continues to list The Plaza as one of its international operating hotels, and Fairmont continues to operate and market the property. There is no verified current announcement in those official sources indicating a pending ownership change.
Katara describes its broader strategy as active management of iconic hospitality assets, long-term value creation, restoration, and partnerships with international hotel operators. That provides useful context for its ownership of The Plaza, but it should not be turned into unsupported property-specific predictions.
In particular, claims that Katara has confirmed new chef partnerships, a major dining expansion, or a specific new guest-room renovation program should not be presented as fact unless the company or Fairmont announces those plans directly.
How Ownership Changes Have Affected the Plaza Hotel
The Plaza’s ownership changes have had real, documented effects, but those effects differ from one era to another.
Under Conrad Hilton, prominent public spaces were altered, including the Fifth Avenue Lobby and Oak Bar. Later owners funded additional restoration work. El Ad’s 2004 purchase brought the most fundamental structural shift in modern times by converting much of the former all-hotel property into residences while retaining a luxury hotel.
The Katara era illustrates another important feature of modern hotel ownership: the investment owner and hotel operator can be different companies. Katara controls the hotel asset, while Fairmont supplies the consumer-facing hotel brand and day-to-day management.
Ownership changes therefore influence financing, investment decisions, restoration, and long-term strategy, while the management company may have more immediate influence over what a hotel guest experiences.
Conclusion and Implications for the Plaza Hotel’s Ownership
The Plaza Hotel’s current owner is Katara Hospitality, which acquired the hotel ownership interests in 2018 and continues to list the property in its portfolio in 2026. Fairmont Hotels & Resorts manages the hotel.
The ownership story is more complex than a simple list of famous names. The current Plaza began with Bernhard Beinecke, Fred Sterry, and Harry S. Black; Conrad Hilton did not enter the story until 1943; Alfred Gwynne Vanderbilt was its first guest rather than an owner; and Donald Trump’s tenure ran from 1988 to 1995, with lenders receiving a major stake in 1992.
The later conversion of much of the building into condominium residences adds another layer. Katara’s ownership of The Plaza hotel should not be confused with ownership of every private residence inside the landmark building.
This distinction also explains why reports about The Plaza sometimes appear to conflict. A source may be referring to the hotel asset owner, the hotel management company, a minority investment interest from an earlier period, or an individual condominium owner. For the current hotel itself, the answer is clear: Katara Hospitality owns it, and Fairmont manages it.
Frequently Asked Questions
Who currently owns the Plaza Hotel in NYC?
Katara Hospitality, a Qatar-based hospitality asset owner and manager, currently owns The Plaza hotel in New York City. Katara continues to list the property in its international portfolio as of July 2026.
When did Katara Hospitality acquire the Plaza Hotel?
Katara Hospitality acquired The Plaza in 2018. Contemporary reporting said the purchase was completed in July 2018, and the transaction was widely reported at approximately $600 million.
Who manages the Plaza Hotel?
Fairmont Hotels & Resorts manages The Plaza. Katara Hospitality is the owner, while Fairmont handles the hotel operation and guest-facing hospitality business.
Does Donald Trump still own the Plaza Hotel?
No. Donald Trump bought The Plaza in 1988. Lenders received a 49% stake during a 1992 financial restructuring, and his remaining controlling interest was sold in 1995. He has not owned The Plaza for decades.
Did Alfred Gwynne Vanderbilt ever own the Plaza Hotel?
No. Alfred Gwynne Vanderbilt is associated with The Plaza because he was the first registered guest when the current hotel opened on October 1, 1907. He did not purchase the hotel in 1921.
Does Katara Hospitality own every residence in the Plaza building?
No. The Plaza became a mixed hotel-and-condominium property during its 2000s redevelopment. Private residential condominium units can be separately deeded and individually owned, so ownership of The Plaza hotel does not mean ownership of every private residence in the building.
Who owned the Plaza Hotel before Katara Hospitality?
Immediately before Katara’s 2018 acquisition, The Plaza was controlled through a Sahara-led ownership structure that included other investors. Sahara had acquired a 70% majority stake from El Ad in 2012.
Are there plans to sell the Plaza Hotel again?
As of July 2026, Katara Hospitality’s current portfolio still lists The Plaza, and the current official ownership and hotel pages do not announce a pending sale. Future ownership could always change, but an unconfirmed rumor should not be treated as an announced transaction.
Sources
- Katara Hospitality — About Us and Current Portfolio — confirms that The Plaza remains in Katara Hospitality’s international portfolio and identifies it as a Fairmont-managed hotel.
- Katara Hospitality — The Plaza Acquisition Announcement — confirms Katara’s acquisition and Fairmont’s management role.
- The Plaza — Official History — supports the 1907 opening, original developers, architect, and early history.
- New York City Landmarks Preservation Commission — Plaza Hotel Interior Designation Report — documents historical ownership, Hilton’s tenure, later owners, and landmark interiors.
- New York City Department of City Planning — Plaza Hotel Report — documents the El Ad redevelopment and planned hotel-to-condominium conversion.
- Milbank — 2012 Plaza Hotel Transaction — documents Sahara’s majority acquisition and the ownership structure at that time.
