Walk into the lobby of The Plaza Hotel at the corner of Fifth Avenue and Central Park South, and you’re basically stepping into a movie set. The gold leaf, the massive chandeliers, that feeling that someone very important—or very rich—is about to brush past you. It’s iconic. But for all its French Renaissance "castle-on-the-park" vibes, the question of who owns the Plaza New York is a lot more complicated than most people realize. It’s not just one person, and it’s definitely not Donald Trump anymore, even though his name still haunts the corridors for some.
Honestly, the ownership of this place has been a revolving door of billionaires, international conglomerates, and even sovereign nations. Right now, as we sit in 2026, the keys belong to the government of Qatar.
Specifically, it's Katara Hospitality.
They aren't just some random investment firm. Katara is the hospitality arm of the Qatar Investment Authority (QIA), which is basically the piggy bank for the state of Qatar. They bought 100% of the property back in 2018 for a cool $600 million. If you’re keeping track, that’s actually a bargain compared to what some of the previous owners shelled out, but the deal was messy. Like, lawsuit-and-prison-time messy.
Why the Current Ownership Matters
When Katara Hospitality took over, it ended years of drama. Before them, the hotel was caught in a tug-of-war involving an Indian billionaire named Subrata Roy, who was running the Sahara India Pariwar conglomerate. Roy’s story is wild. He ended up in jail in India over a massive investor fraud case, and he was trying to sell the Plaza from his prison cell to pay back billions in court-ordered debt.
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Imagine trying to manage the most famous hotel in the world while sitting in a cell in Delhi. It was a disaster.
The Qataris stepped in and bought out everyone. They didn't just buy Roy's 75% stake; they also bought out the minority owners, including Saudi Prince Al-Waleed bin Talal and the New York-based Ashkenazy Acquisition Corp. Now, they own the whole thing—lock, stock, and barrel.
But here’s the kicker: they don’t actually run it.
If you look at the sign or book a room, you’ll see the name Fairmont. AccorHotels, the parent company of Fairmont, has the management contract. So, while Qatar owns the walls and the land, Fairmont handles the pillows, the room service, and the famous Afternoon Tea at The Palm Court. It’s a classic real estate "opco/propco" (operating company vs. property company) split.
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The Wild History of Who Owns the Plaza New York
You can’t talk about the current owners without looking at the parade of legends who came before them. This building is a trophy. It’s the ultimate "I’ve made it" purchase.
- Conrad Hilton (1943): He bought it for $7.4 million during World War II. He loved it so much he supposedly kept a photo of it under the glass on his desk.
- Donald Trump (1988): This is the one everyone remembers. He paid $390 million, which was an insane amount of money at the time. He famously said, "I haven't purchased a building, I have purchased a masterpiece." He later lost it to the banks during a bankruptcy reorganization in the 90s.
- Prince Al-Waleed bin Talal (1995): He teamed up with CDL Hotels to rescue the property from Trump's debt.
- Elad Properties (2004): This was a turning point. They bought it for $675 million and did something controversial—they turned a huge chunk of the hotel into private condos.
That’s why, when you ask who owns the Plaza New York, the answer is actually split into two parts. Katara Hospitality owns the hotel portion (282 rooms), the retail space, and the common areas. But there are also 181 private condominiums. Those are owned by individuals—everyone from CEOs to celebrities who wanted a piece of the legend. If you have $15 million or $20 million lying around, you can "own" a piece of the Plaza too, just not the hotel part.
A Landmark You Can't Really Change
One thing that makes ownership of the Plaza so tricky is its status. It’s a National Historic Landmark. Since 1969, the exterior has been protected, and since 2005, some of the most famous interior spaces (like the Grand Ballroom and the Palm Court) are also landmarked.
This means even if you own it, you can't just go in and paint the Oak Room neon pink. The New York City Landmarks Preservation Commission watches every nail and screw. This makes it a "prestige" asset rather than a "high-growth" one. You own the Plaza because you want the world to know you can afford to maintain a piece of history, not because you’re looking for a quick flip.
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What’s Next for the "Castle on 5th"?
Under Qatari ownership, things have stabilized. They have deep pockets. Unlike Sahara India Pariwar, which was desperately trying to offload the building to cover legal fees, Katara is a long-term player. They own The Savoy in London and the Carlton in Cannes. They like trophies.
If you're looking to understand the business side of this, here’s what you need to keep in mind:
- Management vs. Ownership: Don't confuse the brand (Fairmont) with the owner (Katara/Qatar).
- The Condo Split: The residential entrance is at One Central Park South, while the hotel is at 768 Fifth Avenue. They are legally separate entities.
- The Retail Factor: The luxury shops in the basement and lobby are a huge part of the revenue, and the owners have been working to modernize that space to keep up with the changing face of Fifth Avenue.
The ownership of the Plaza has always mirrored the global economy. In the 40s, it was American hotel kings. In the 80s, it was New York real estate moguls. In the 90s and 2000s, it was Middle Eastern royalty and Israeli developers. Now, it’s a sovereign wealth fund.
It’s basically a $600 million barometer for who has the most money in the world at any given moment. Honestly, it's kind of fitting for a building that has seen everything from the Beatles to Eloise.
Actionable Insights for Your Next Visit:
- Check the management: If you have an issue with your stay, you're dealing with Fairmont, not the Qatari government.
- The Public Spaces: Remember that because it's a landmark, you can visit the lobby and the Palm Court even if you aren't staying there.
- Real Estate Records: If you're curious about who lives in the private residences, you can look up the "Plaza Condominium" records through the NYC ACRIS system—it's all public knowledge.
The Plaza isn't just a hotel; it's a living, breathing piece of New York City's power structure. Whether it's owned by a billionaire or a nation-state, its job remains the same: to look better than every other building on the skyline.