New York’s Plaza Hotel Gets New Ownership
The storied Plaza Hotel in New York City has a new owner. Sahara India Pariwar, an Indian-based company, has finalized its purchase of a 75% interest in the hotel York. The sale includes retail space and 230 hotel rooms.
The purchase has been valued at $575 million. Under a long-term agreement, Fairmont Hotels & Resorts will continue to operate the hotel.
The 282-room Plaza Hotel is located on Fifth Avenue, adjacent to Central Park in Manhattan. Since opening in 1907, it has seen notable guests such as Mark Twain, Groucho Marx, and Eleanor Roosevelt.