New York Plaza Hotel Sells to New Ownership Group for $570 Million
India's Sahara Group has purchased a controlling stake in New York's prestigious Plaza Hotel for $570 million.
Advertisement
New York’s prestigious Plaza Hotel has a new controlling ownership group. India’s Sahara Group has purchased a controlling stake in the hotel for $570 million.
The property is owned jointly by Israeli Elad Properties and Saudi Kingdom Holdings, and Fairmont Hotels and Resorts has been the operator of the 105 year-old landmark. Whle Elad will relinquish its stake in the hotel, Kingdom Holdings will maintain a 25 percent stake in the building.
Advertisement
Latest from Haute Living
Fashion
Gabrielle’s Angel Ball Returns to New York for an Evening of Philanthropy and Glamour
Real Estate
From Seattle to South Florida: A New Wave of Wealth Sets Its Sights on Miami
Haute Wine + Spirits
This $4,200 Cognac Is One of the Most Extravagant Diwali Gifts of the Year
Haute DrinksWashington DC