You’ve seen it in Home Alone 2. You've seen the green copper roof from Central Park. Honestly, the Plaza Hotel is basically the closest thing America has to a royal palace. But here’s the thing: who actually owns the Plaza in New York City? It’s not a simple name on a deed. It’s a messy, high-stakes game of global Monopoly that involves sovereign wealth funds, Indian billionaires in legal trouble, and a "matching rights" drama that sounds like a Netflix script.
If you walked into the lobby today and asked for the owner, you wouldn't find a New Yorker. You'd find your way to Qatar.
The Current King of the Castle: Katara Hospitality
Since 2018, the Plaza Hotel has been 100% owned by Katara Hospitality.
They aren't just some random investment firm. Katara is the hospitality arm of the Qatar Investment Authority—basically the piggy bank for the nation of Qatar. They paid roughly $600 million to take total control of the building. Before that, the ownership was split up like a frantic Thanksgiving dinner. You had a majority owner from India, a Saudi prince with a minority stake, and a New York real estate firm also holding a piece of the pie.
Katara basically walked in and cleared the table.
Why Qatar?
It’s about prestige, mostly. They already own The Savoy in London and the Raffles in Singapore. Adding the Plaza to the portfolio wasn't just a "business move." It was a flex. They wanted the most famous hotel in the world. They got it.
The Wild Drama Before the Sale
Before Katara took over, things were... chaotic. For years, the majority owner was Sahara India Pariwar, led by Subrata Roy.
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Roy is a character. He was once one of India’s most powerful men, but he ended up spending years in jail over a multi-billion-dollar investor fraud case. While he was behind bars, he was literally trying to sell the Plaza from his "office" (a guest house provided by the prison) to pay back the Indian government.
It was a total circus.
- The Saudi Prince: Prince Alwaleed bin Talal owned 25% for ages.
- The Ashkenazy Factor: New York's Ashkenazy Acquisition Corp. partnered with the Prince.
- The "Almost" Buyers: At one point, a group led by Shahal Khan and Kamran Hakim thought they had the deal. They even put down a $30 million deposit.
But here’s the kicker: the Prince and Ashkenazy had "right of first refusal." This meant if someone else offered to buy the hotel, they could just match the price and take it themselves. They used that right to block the other buyers, and then eventually, everything was consolidated and sold to the Qataris.
Who Owns the "Apartments" at the Plaza?
This is where it gets confusing for people. When you ask who owns the Plaza in New York City, are you talking about the hotel or the condos?
Back in 2005, a developer named Elad Group bought the place and did a massive $450 million renovation. They split the building in half. One half stayed a hotel. The other half became The Plaza Private Residences.
The hotel owner (Katara) does NOT own the residences.
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Individual billionaires, celebrities, and "shell companies" own those. If you have $20 million to $50 million lying around, you can own a piece of the Plaza, too. Famous residents have included Tommy Hilfiger and various CEOs. You have your own entrance on Central Park South, while the "tourists" use the Fifth Avenue side.
The Trump Era and Other Past Ghosts
You can't talk about Plaza ownership without mentioning Donald Trump. He bought the hotel in 1988 for about $390 million. He famously said he didn't buy a building, he bought a "masterpiece."
He didn't keep it long.
By 1995, the hotel was drowning in debt. His lenders basically forced a sale to Prince Alwaleed and the CDL Hotels of Singapore for $325 million—a significant loss.
Before Trump, it was Westin. Before Westin, it was Hilton. Conrad Hilton himself bought it in 1943. He reportedly slept on a cot in the basement of one of his other hotels just so he could save enough money to buy the Plaza. Talk about a hustle.
Who Actually Runs the Day-to-Day?
Ownership is one thing; management is another.
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Even though Qatar owns the bricks and mortar, they don't run the check-in desk. That job belongs to Fairmont Hotels & Resorts. Fairmont is owned by Accor, a massive French hospitality giant.
So, it's a French company managing a New York landmark owned by a Middle Eastern sovereign fund, filled with residents from all over the globe.
That is NYC real estate in a nutshell.
Why the Ownership Matters to You
Does it change your stay? Kinda.
Under Qatari ownership, there’s been a massive push to keep the "old world" luxury alive. They aren't trying to make it a hip, modern boutique hotel with neon lights. They want the gold leaf. They want the crystal chandeliers. They want the $100 afternoon tea at The Palm Court.
Actionable Insights for Your Next Visit:
- The Food Hall is gone: Many people remember the Todd English Food Hall in the basement. It’s been replaced and rebranded several times. Check the current status of the "Plaza Food Hall" before you go planning a cheap lunch.
- Eloise is still there: The Eloise Shop in the basement is a permanent fixture. Regardless of who owns the deed, the fictional six-year-old still rules the basement.
- Public Access: You can walk into the lobby and see the shops, but the "Hotel" lobby and the "Residential" lobby are strictly guarded. Don't expect to wander the hallways of the guest rooms without a key card.
The Plaza isn't just a building. It's a trophy. And right now, that trophy sits firmly in the hands of Qatar. Whether that changes in the next decade depends on how the global economy shifts, but for now, the "Castle on 59th Street" is staying exactly where it is.
If you’re planning a trip, verify your reservation through the Fairmont website, as they handle the actual bookings and guest services for the owners.