It is the most famous hotel in the world. Seriously. If you’ve watched Home Alone 2, you know the lobby. If you’re a fan of F. Scott Fitzgerald, you know the Gatsby connection. But the question of the Plaza Hotel NYC owner is actually a bit of a corporate soap opera. People think it’s still Donald Trump. It isn’t. People think it’s some massive, faceless American REIT. Not quite.
The Plaza is a legend at the corner of Central Park South and Fifth Avenue, but its deed has changed hands more times than a hot potato in a high-stakes poker game. Right now, the ownership is a mix of Qatari state wealth and a high-end hospitality brand, but getting to this point required billions of dollars, international lawsuits, and a few stints in prison for previous stakeholders. It's wild.
The Current Owners: From Qatar to Paris
So, who holds the keys today? The primary Plaza Hotel NYC owner is Katara Hospitality, which is essentially the hotel arm of the Qatar Investment Authority (the sovereign wealth fund of the State of Qatar). They bought it in 2018. They didn’t just buy a building; they bought a piece of New York’s soul for about $600 million.
But it’s not just the Qataris. The hotel is managed by Fairmont Hotels and Resorts, which is a subsidiary of the French giant AccorHotels. So, while Qatar owns the physical bricks and the gold-plated faucets, the French are running the day-to-day check-ins and the room service.
It’s a weirdly international marriage.
You have the deep pockets of a Middle Eastern nation-state providing the capital and a European conglomerate providing the prestige management. This happened because the previous owner, Subrata Roy of the Sahara India Pariwar group, ended up in a massive legal mess in India. He needed cash. He was actually trying to sell the hotel from a conference room in a jail complex at one point. You can't make this stuff up.
Why the Ownership History is a Mess
The Plaza hasn't had a "quiet" era since it opened in 1907. It cost $12.5 million to build back then, which was an insane amount of money for the time.
📖 Related: London to Canterbury Train: What Most People Get Wrong About the Trip
Conrad Hilton bought it in 1943. He loved it. Then he sold it. Then it went to Westin. Then, in 1988, Donald Trump bought it for $407 million. He famously said, "I haven't purchased a building, I have purchased a masterpiece—the Mona Lisa." He didn't keep the Mona Lisa for long, though. By 1995, after a high-profile bankruptcy, he sold it to a partnership between Prince Al-Waleed bin Talal of Saudi Arabia and CDL Hotels International from Singapore.
The El Ad Era
In 2004, the Israeli billionaire Isaac Tshuva and his company, El Ad Properties, bought the place for $675 million. This was a turning point. They didn't want it to just be a hotel. They saw dollar signs in luxury condos. They shut the whole thing down for a $450 million renovation.
When it reopened, it was a "condo-hotel."
- The private residences are owned by individuals (like Tommy Hilfiger and various CEOs).
- The hotel rooms remained a separate business entity.
- The retail space at the bottom changed hands, too.
This is why "owning" the Plaza is a bit of a misnomer. Are you talking about the guy who owns the 4,000-square-foot apartment on the 10th floor? Or the entity that owns the Grand Ballroom? Usually, when people search for the Plaza Hotel NYC owner, they mean the person who owns the brand and the hotel operations. That's Katara.
The Sahara India Scandal
We have to talk about Subrata Roy. He was the face of the Plaza Hotel NYC owner title from 2012 to 2018. He bought a 75% stake from El Ad for about $570 million. Roy was a flamboyant billionaire who ran Sahara India Pariwar, a massive conglomerate.
Then things went south.
👉 See also: Things to do in Hanover PA: Why This Snack Capital is More Than Just Pretzels
The Indian government accused him of failing to refund billions of dollars to investors in a massive illegal bond scheme. He was sent to Tihar Jail. For years, the fate of the Plaza hung in the balance while Roy tried to orchestrate a sale from custody. It was a circus. There were rumors of buyers from China, London, and even rumors that Trump wanted it back. Ultimately, the Qataris stepped in and cleared the deck.
What it’s Like Inside the Plaza Today
If you walk in today, you aren't going to see the owners. You’re going to see the Fairmont staff. The vibe is still "Old World Luxury," but it’s definitely modernized.
The rooms are huge. The bathrooms have 24-karat gold-plated fixtures. It's expensive. A standard room will easily set you back $1,000 a night, and the Royal Suite can hit $40,000 depending on the season.
Is it worth it?
Honestly, for some people, it’s just about the name. You’re staying at The Plaza. There is a level of service there that is hard to find elsewhere. They have "Butler Service" for every floor. You can literally ask someone to unpack your suitcase or draw a bath at 3:00 AM.
The Food and Beverage Shuffle
The ownership changes often affect the restaurants. The Palm Court is still there, famous for Afternoon Tea. But the Oak Room and the Oak Bar—the places where the real power brokers used to drink—have been the subject of endless lease disputes and closures. It’s a bit of a bummer for history buffs. The food hall in the basement (The Plaza Food Hall) was a big hit for a while, spearheaded by Todd English, but even that has seen transitions as the management tries to figure out what modern travelers want.
✨ Don't miss: Hotels Near University of Texas Arlington: What Most People Get Wrong
The Complexity of the Deed
The Plaza is a "Landmarked" building. This is a huge deal for the Plaza Hotel NYC owner. They can't just tear down a wall or change the windows. Both the exterior and several interior spaces (like the Grand Ballroom and the Palm Court) are protected by the New York City Landmarks Preservation Commission.
This means that being the owner is actually quite a burden. You have to maintain the historical integrity of a building that is over 100 years old while trying to compete with ultra-modern hotels like the Aman or the Baccarat across the street. It’s a constant battle between preservation and profit.
- Maintenance Costs: Imagine the plumbing in a 1907 building. Now imagine it has to be five-star quality.
- Labor Unions: The Plaza has a very strong relationship (and sometimes conflict) with the New York Hotel and Gaming Trades Council.
- Real Estate Taxes: New York City doesn't go easy on Fifth Avenue properties.
How to Experience The Plaza Without Being a Billionaire
You don't have to be the Plaza Hotel NYC owner to enjoy the place. You don't even have to stay there.
- Afternoon Tea at The Palm Court: It’s pricey (usually $100+ per person), but it’s the classic experience.
- The Champagne Bar: You can grab a drink overlooking the Pulitzer Fountain.
- The Eloise Boutique: If you have kids, this is the spot. It's dedicated to the fictional character who lived at the hotel.
Future Outlook: Will Qatar Sell?
The hospitality market in NYC is tough right now. Between the rise of luxury rentals and the changing habits of business travelers, big grand hotels are under pressure. However, Qatar tends to hold onto "trophy assets." They own Harrods in London and the Ritz in Paris. They aren't looking for a quick flip. They want the prestige.
For the foreseeable future, the Plaza Hotel NYC owner will likely remain Katara Hospitality. They have the stability that the previous owners lacked. No more jailhouse negotiations. No more sudden bankruptcies. Just steady, high-end management under the Fairmont brand.
Practical Steps for Your Visit
If you're planning a trip or just want to see the building, keep these things in mind. First, dress the part. Even if you aren't staying there, the staff is much more welcoming if you aren't in gym shorts. Second, book your tea reservations weeks in advance. It fills up fast, especially during the holidays. Finally, take a walk around the back of the building on 58th street. You'll see the residential entrance, which is much quieter and gives you a sense of how the "other half" actually lives in their multi-million dollar condos.
The story of the Plaza's ownership is really a story of global wealth. It moved from American railroad money to Texas oil money, then to a New York real estate mogul, followed by Saudi princes, Indian tycoons, and finally, Qatari state billions. It’s a mirror of the world's economy, all wrapped up in a beautiful white chateau on the edge of the park.
To get the most out of a visit or a deeper dive into the hotel's history:
- Check the official Fairmont website for current room rates—they fluctuate wildly between October and December.
- Look up the NYC Landmarks Preservation Commission's reports if you want to see the floor plans of the protected rooms.
- Keep an eye on business filings from AccorHotels; they report the performance of their "Luxury and Upscale" division, which includes the Plaza’s operating stats.