Who Owns the NY Plaza Hotel: A Closer Look

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 can be confusing. The Plaza name appears alongside Fairmont, the building contains private residences as well as hotel rooms, and the property has passed through the hands of several famous owners. Today, the hotel portion is owned by Qatar-based Katara Hospitality and managed by Fairmont Hotels & Resorts.

The History of the Plaza Hotel

The current Plaza Hotel opened on October 1, 1907, replacing an earlier Plaza Hotel that had occupied the site. According to The Plaza’s official history, the new hotel grew from the efforts of financier Bernhard Beinecke, hotelier Frederic Sterry and Harry S. Black, president of the Fuller Construction Company. Architect Henry Janeway Hardenbergh designed the landmark building with the elaborate character of a French château.

This corrects a significant misconception: Charles T. Yerkes was not the developer who commissioned the present Plaza Hotel. New York City’s Landmarks Preservation Commission history of The Plaza documents Beinecke and Black’s purchase of the site, their development plans and Hardenbergh’s role in the 1905–1907 building campaign.

The hotel continued to change after opening. Warren & Wetmore carried out a major addition and renovation campaign from 1919 into the early 1920s, including an annex along 58th Street. The present Grand Ballroom reflects later work by Schultze & Weaver in 1929. These additions help explain why different parts of The Plaza display details from several periods rather than one completely uniform 1907 design.

The Plaza quickly became a center of New York social life. Its public rooms hosted teas, weddings, benefits, press events and major gatherings. Famous guests over the decades included political leaders, entertainers, writers and business figures. The hotel also became closely associated with popular culture, including F. Scott Fitzgerald’s The Great Gatsby, the Eloise books and films such as North by Northwest and Home Alone 2: Lost in New York.

The International Monetary Fund’s historical account confirms that the Group of Five meeting at the Plaza Hotel produced what became known as the Plaza Accord. That event is one of the strongest examples of the hotel’s importance extending beyond hospitality and popular culture.

Who Owns the Plaza Hotel Today?

Katara Hospitality owns The Plaza’s hotel asset. The Qatar-based hospitality asset owner acquired The Plaza in 2018, marking its first acquisition in the United States. Katara continues to identify The Plaza, A Fairmont Managed Hotel among the properties it owns.

The transaction was completed in July 2018 and was widely reported at approximately $600 million. It brought the hotel interests that had previously been divided among Sahara India Pariwar and other investors under Katara’s control.

Katara Hospitality has owned The Plaza’s hotel asset since 2018, while Fairmont Hotels & Resorts manages the property for the owner.

Does Fairmont Own the Plaza Hotel?

No. Fairmont Hotels & Resorts is the hotel’s manager rather than its current owner. The property is officially marketed as The Plaza, A Fairmont Hotel, and Fairmont handles the guest-facing hotel operation. Fairmont became part of Accor when Accor acquired FRHI Hotels & Resorts in 2016.

Is the Entire Plaza Building Owned as One Hotel?

Not in the simple sense that existed for much of the 20th century. During the major redevelopment led by Elad Properties in the 2000s, part of the former hotel was converted to residential condominiums. The Plaza’s current FAQ states that the property has 282 hotel rooms and suites while a portion of the building is residential.

This mixed-use structure is why statements that one company “owns the Plaza Hotel” should be understood as referring primarily to the hotel asset and hotel operation. Individual residential condominium units can have their own private owners.

Previous Owners of the Plaza Hotel

The Plaza has therefore changed hands many times rather than remaining under one family or hotel chain. New York City’s landmark report records the progression from the Plaza Operating Company through Conrad Hilton, the Sonnabend family, Westin, Donald Trump, the Fairmont/CDL acquisition and Elad Properties.

Donald Trump’s Ownership of the Plaza

Donald Trump purchased The Plaza in 1988. The hotel’s own historical timeline records the acquisition at $390 million. His ownership coincided with one of the property’s best-known appearances in popular culture: filming for Home Alone 2: Lost in New York began at The Plaza in December 1991.

Trump did not remain the owner permanently. In 1995, Fairmont Hotels and CDL Hotels International acquired the property, ending his ownership period.

Elad Properties and the Condo Conversion

Elad Properties acquired The Plaza in 2004 for $675 million. It subsequently closed the hotel for a major renovation and redevelopment. The project became controversial because plans called for converting a large share of the former hotel rooms to residential use and introducing additional commercial space.

New York City planning records show that the redevelopment reduced the traditional hotel component while creating approximately 181 residential condominium units. The property later reopened with a hotel component that today contains 282 rooms and suites.

The redevelopment also coincided with a major preservation milestone. Although The Plaza’s exterior had already been designated a New York City Landmark in 1969, the Landmarks Preservation Commission designated important public interiors in 2005, including the Palm Court, Oak Room, Oak Bar, Terrace Room, lobbies, corridors and Grand Ballroom.

Sahara India Pariwar and the 2018 Sale

In 2012, Sahara India Pariwar acquired a 75% interest in The Plaza hotel asset. Kingdom Holding retained a minority interest at the time. Financial difficulties involving Sahara and its leadership later contributed to efforts to sell major overseas hotel assets, including The Plaza.

Katara Hospitality ultimately acquired full hotel ownership in 2018. That transaction established the ownership arrangement that remains in place today.

The Plaza Hotel’s Role in New York City

The Plaza occupies an unusual position in New York because it functions as a luxury hotel, residential address, event venue, architectural landmark and cultural symbol at the same time. Its location at Fifth Avenue and Central Park South places it beside Central Park and within walking distance of attractions including Carnegie Hall, the Museum of Modern Art, Rockefeller Center and major Fifth Avenue shopping.

Its public spaces have been central to that identity. Afternoon tea in the Palm Court developed into a long-running Plaza tradition, while the Grand Ballroom has hosted weddings, benefits and major social events. One of its most celebrated gatherings was Truman Capote’s Black and White Ball in 1966.

The Plaza has also become recognizable to people who have never stayed there. The hotel’s official film history documents appearances in productions such as North by Northwest, The Way We Were, Home Alone 2 and Sleepless in Seattle. Its connection to The Great Gatsby and the Eloise stories further strengthens its place in New York popular culture.

The Plaza Hotel’s Current Direction and Future

As of 2026, Katara Hospitality continues to list The Plaza among its owned international hotels, and Fairmont continues to operate the property. No verified ownership change has superseded the 2018 Katara acquisition.

The earlier claim that specific smart-room upgrades, new dining expansions or other major redevelopment plans are already underway is not supported by a current official announcement. The more reliable picture is one of continued operation and stewardship of an unusually complex historic property.

Katara Hospitality describes its broader approach as active asset management and long-term stewardship of major hospitality properties. The company also states that it seeks to reduce environmental impacts such as electricity and water use across its portfolio. Those corporate goals may influence ongoing operations, but they should not be presented as specific Plaza renovation projects unless the hotel or owner announces them.

Any major physical changes to The Plaza also have to account for its landmark status. Its exterior has been protected as a New York City Landmark since 1969, and significant public interiors received landmark protection in 2005. This preservation framework makes maintaining historic character an important part of any future work.

The Plaza Hotel’s Impact on the Hospitality Industry

The Plaza helped establish an influential model for the grand American luxury hotel. The New York City Landmarks Preservation Commission notes that Henry Janeway Hardenbergh’s work set standards for luxury hotel design, while the later contributions of Warren & Wetmore and Schultze & Weaver added important examples of early-20th-century hotel interiors.

The hotel’s influence is therefore easier to document through architecture, public spaces and its role in New York social life than through broad claims that it invented personalized hotel service. Its combination of lavish public rooms, residential-style accommodations, dining and event spaces reflected the way large urban hotels were becoming destinations in their own right.

The Plaza also contributed to New York’s global image. Presidents, royalty, entertainers and business leaders have stayed or gathered there, while films and books transformed its façade and interiors into internationally recognizable symbols of Manhattan luxury.

The Legacy of the Plaza Hotel

The Plaza’s legacy rests on more than its ownership history. The current building has stood at Fifth Avenue and Central Park South since 1907, adapting repeatedly while retaining many of its most important architectural spaces.

Its preservation credentials are substantial. The exterior became a New York City Landmark in 1969. The property was added to the National Register of Historic Places in 1978, and the National Park Service lists The Plaza as a National Historic Landmark designated in 1986. Major public interiors received separate New York City landmark protection in 2005.

The ownership story also reflects changing approaches to luxury real estate. The Plaza moved from a traditional grand hotel through periods controlled by major hotel companies and high-profile investors, then became a mixed-use property with hotel rooms and private residences. Katara Hospitality’s 2018 purchase is the latest chapter in that long history.

Questions and disputes surrounding previous owners have sometimes attracted as much attention as the hotel itself, but the present structure is clear: Katara Hospitality owns The Plaza’s hotel asset, Fairmont manages the hotel, and privately owned residences occupy part of the building. That distinction is essential when answering who owns The Plaza today.

Sources

1. Katara Hospitality — Our Hotels — verifies The Plaza’s place in Katara Hospitality’s owned portfolio.
2. The Plaza — Official History — opening date, founders, architecture and major historical background.
3. New York City Landmarks Preservation Commission — Plaza Hotel Interior Designation Report — architecture, ownership history and landmark interiors.
4. National Park Service — Plaza Hotel National Register record — federal historic listing information.
5. International Monetary Fund — Plaza Accord history — verifies the September 22, 1985 G5 meeting at The Plaza.
6. Fairmont — The Plaza, A Fairmont Hotel — current management branding and hotel accommodations.

Frequently Asked Questions

Who currently owns the Plaza Hotel in New York?

Katara Hospitality, a Qatar-based hospitality asset owner, currently owns The Plaza’s hotel asset. It acquired full hotel ownership in 2018.

When did Katara Hospitality acquire the Plaza Hotel?

Katara Hospitality acquired The Plaza in July 2018. The transaction was widely reported at approximately $600 million and made The Plaza Katara Hospitality’s first hotel acquisition in the United States.

Does Fairmont own the Plaza Hotel?

No. Fairmont Hotels & Resorts manages the hotel, while Katara Hospitality owns the hotel asset. Fairmont is part of the Accor hospitality group.

Does Donald Trump still own the Plaza Hotel?

No. Donald Trump purchased The Plaza in 1988 and ceased to own it when Fairmont Hotels and CDL Hotels International acquired the property in 1995.

Has the Plaza Hotel changed ownership in the past?

Yes. The Plaza has had many owners and controlling investors. They have included the Plaza Operating Company, interests associated with Conrad Hilton, the Sonnabend family, Westin, Donald Trump, Fairmont/CDL interests, Elad Properties, Sahara India Pariwar and, since 2018, Katara Hospitality.

Is the entire Plaza building one hotel?

No. The Plaza became a mixed-use property during its 2000s redevelopment. It currently has 282 hotel rooms and suites, while another portion of the building contains privately owned residential condominium units.

Is the Plaza Hotel a historic landmark?

Yes. The Plaza’s exterior became a New York City Landmark in 1969. It was listed on the National Register of Historic Places in 1978, designated a National Historic Landmark in 1986, and important public interiors received New York City landmark protection in 2005.

What is the Plaza Hotel known for?

The Plaza is known for its Fifth Avenue and Central Park South location, historic architecture, Palm Court, Grand Ballroom, luxury accommodations and appearances in books and films including The Great Gatsby, the Eloise stories and Home Alone 2: Lost in New York.