Few buildings in New York City carry the same weight of legend as The Plaza Hotel. Standing at 768 Fifth Avenue at the southeast corner of Central Park, it has hosted The Beatles, Marilyn Monroe, Truman Capote, and virtually every major head of state who ever visited the city.
Most people assume it is still owned by an American billionaire — possibly even Donald Trump, whose name was once synonymous with the property. The truth, as of 2026, is very different. And it just got even more dramatic with a bombshell announcement made yesterday.
Who Owns The Plaza Hotel Right Now in 2026?
The Plaza Hotel is owned by Katara Hospitality — a Qatari state-owned hospitality company and the hotel investment division of the Qatar Investment Authority (QIA), the sovereign wealth fund of the State of Qatar.
Katara completed its acquisition of The Plaza on July 2, 2018, purchasing 100% of the property from its then-majority owner, Sahara India Pariwar, for approximately $600 million.
The hotel is operated — but not owned — by Fairmont Hotels & Resorts, a brand belonging to the Accor group, under a third-party management agreement.
This is an important distinction: Katara owns the building and the asset. Fairmont simply runs the day-to-day operations under contract.
For a broader look at how Qatar’s investment empire operates in global hospitality, it is worth reading about who owns Hyatt — another iconic luxury hotel brand where state-backed investors hold significant stakes.
Ownership and Key Stakeholders Table
| Party | Role | Stake / Status | Key Detail |
|---|---|---|---|
| Katara Hospitality | Legal Owner | 100% of The Plaza Hotel asset | Qatari state-owned company; hotel division of Qatar Investment Authority (QIA) |
| Qatar Investment Authority (QIA) | Ultimate Parent | Controls Katara Hospitality | Qatar’s sovereign wealth fund; one of the world’s largest |
| Fairmont Hotels & Resorts | Hotel Operator | No ownership stake | Manages daily operations under a third-party management contract for Accor |
| Sahara India Pariwar | Previous Majority Owner | Exited July 2018 | Indian conglomerate; held 75% stake from 2012–2018; sold to Katara for ~$600M |
| Ashkenazy Acquisition Corp. | Previous Minority Owner | Exited July 2018 | New York real estate firm; previously held minority stake alongside Kingdom Holding |
| Kingdom Holding Co. (Prince Al-Waleed) | Previous Minority Owner | Exited July 2018 | Saudi royal’s investment firm; held minority stake until Katara buyout |
| Elad Properties | Previous Owner | Exited 2012 | Israeli developer; bought Plaza in 2004 for $675M; converted portions to condos |
| Donald Trump | Previous Owner | Exited 1995 | Bought for ~$390M in 1988; sold as part of 1992 bankruptcy settlement |
| Private Condo Owners | Individual Residents | Own their units | 181 privately owned residential condominiums inside the building are not part of Katara’s hotel asset |
The Breaking News: The Plaza Is Closing in January 2027
This is the most important Plaza story in years — announced just yesterday, October 15, 2026.
Fairmont Hotels & Resorts officially confirmed that The Plaza Hotel will close to guests on January 19, 2027, with construction beginning the following day, for a facade restoration project expected to take a minimum of four years.
That means The Plaza will remain closed until at least 2031 — making it the longest closure in the hotel’s entire 119-year history, surpassing even its three-year renovation shutdown from 2005 to 2008.
The project will focus on repairing and restoring the hotel’s historic 19th-century limestone facade, which is subject to strict conditions as a New York City Landmark and a National Historic Landmark. The hotel has not released the cost of the restoration or a specific reopening date.
378 union members employed at the hotel — represented by the Hotel and Gaming Trades Council — will retain the right to return to their jobs at the same pay when the hotel reopens.
The Origin Story: A 119-Year Old New York Institution
The first Plaza Hotel opened on this site in 1890 as a smaller, five-story structure. It was demolished in 1905, and the current 20-story building — designed in the French Renaissance style by architect Henry Janeway Hardenbergh, who also designed the Dakota Building on the Upper West Side — opened on October 1, 1907. From its very first night, it was considered one of the grandest hotels in the world.
The building sits at the corner of Fifth Avenue and Central Park South, directly facing the Pulitzer Fountain and Grand Army Plaza. It has 282 hotel rooms and suites alongside 181 privately owned condominium residences — the latter added during Elad Properties’ major redevelopment from 2005 to 2008, which cost approximately $400 million. The condos are individually owned and are not part of Katara’s hotel asset.
The Full Ownership Timeline: From Conrad Hilton to Qatar
The Plaza has one of the most dramatic ownership histories of any building in American real estate.
Conrad Hilton, the legendary hotelier and founder of Hilton Hotels, bought The Plaza in October 1943 for $7.4 million — then one of the largest hotel transactions in history. He sold it later for $16 million, a significant profit for the era.
Western International Hotels (later Westin) purchased the property in 1975 for $25 million, renaming it “The Westin Plaza” for a period.
Then came the moment that burned The Plaza into popular culture forever: Donald Trump purchased the hotel in 1988 for approximately $390–407 million, calling it “the Mona Lisa of real estate.” He held a lavish press event and married his second wife Marla Maples in the hotel’s ballroom.
But the price was too high and the debt load too heavy — by 1992, Trump was forced to sell as part of a bankruptcy settlement, walking away from a property he had once described as irreplaceable.
CDL Hotels International then owned it briefly before selling to Elad Properties in 2004 for $675 million. Elad undertook the massive $400 million renovation that created the condo residences and modernized the hotel.
Sahara India Pariwar — the Indian conglomerate headed by Subrata Roy — purchased a 75% stake in 2012 for approximately $570 million, with Ashkenazy Acquisition Corp. and Saudi Prince Al-Waleed bin Talal’s Kingdom Holding holding the remaining minority stake.
Sahara’s financial difficulties — Subrata Roy faced serious legal and financial pressures in India during this period — ultimately forced a sale. After a complicated and legally contested bidding process in 2018, Katara Hospitality emerged as the buyer, acquiring 100% of the hotel for $600 million.
Who Is Katara Hospitality?
Katara Hospitality was originally founded in 1970 as Qatar National Hotels Limited, later renamed Qatar National Hotels Company, and took its current name in 2012. It is the largest hotel owner, developer, and operator in Qatar and manages one of the most prestigious portfolios of luxury hotels in the world.
Its portfolio includes some of the most recognizable names in global hospitality — The Savoy in London, Grosvenor House Hotel in London, Fairmont Tazi Palace in Tangier, and now The Plaza in New York.
Katara manages over 42 owned and/or managed hotels across the globe and operates as the hospitality investment arm of the Qatar Investment Authority — the same sovereign wealth fund that has invested in companies ranging from luxury fashion to technology across dozens of countries.
Qatar’s sovereign wealth ambitions also extend into American media — as seen in the country’s investment in Newsmax, which drew significant political scrutiny in 2025.
Does Donald Trump Still Own The Plaza?
No — and this is the single most common misconception about The Plaza Hotel.
Donald Trump sold The Plaza as part of his 1992 bankruptcy settlement, more than 30 years ago. He has had absolutely no ownership interest in the property since.
The Plaza is owned by Qatar’s Katara Hospitality and has been since July 2018. There is no Trump connection to the current building, its management, or its finances.
The confusion is understandable — Trump’s purchase of The Plaza in 1988 was a defining moment in his public image as a dealmaker, and the hotel appeared prominently in the 1992 film Home Alone 2: Lost in New York, which featured Trump himself in a brief cameo. But that era ended three decades ago.
The Plaza’s Cultural Legacy: Movies, Books, and Icons
The Plaza has appeared in more films, books, and television shows than almost any other building in New York City. It features in Alfred Hitchcock’s North by Northwest (1959), The Great Gatsby, Crocodile Dundee, Home Alone 2, and Sleepless in Seattle, among dozens of others.
Truman Capote held his famous Black-and-White Ball in The Plaza’s Grand Ballroom in 1966 — arguably the most glamorous private party in the history of New York City.
The hotel’s Palm Court — a glass-ceilinged tearoom where afternoon tea has been served since 1907 — is among the most iconic dining experiences in America. The Oak Bar and Oak Room have hosted politicians, writers, and financiers for over a century.
Frequently Asked Questions (FAQs)
Q1. Who owns The Plaza Hotel in NYC in 2026?
The Plaza Hotel is owned by Katara Hospitality, the hotel division of Qatar’s sovereign wealth fund, the Qatar Investment Authority, which acquired it in July 2018 for $600 million.
Q2. Does Donald Trump own The Plaza Hotel?
No. Trump sold The Plaza as part of a 1992 bankruptcy settlement and has had no ownership interest in the property for over 30 years.
Q3. Who manages The Plaza Hotel on a day-to-day basis?
Fairmont Hotels & Resorts, a brand belonging to the Accor group, manages The Plaza under a third-party management contract — but does not own the property.
Q4. Is The Plaza Hotel closing?
Yes. The Plaza announced on October 14–15, 2026 that it will close on January 19, 2027, for a four-year historic facade restoration, with the earliest possible reopening in 2031.
Q5. When did The Plaza Hotel first open?
The current 20-story structure opened on October 1, 1907, designed by architect Henry Janeway Hardenbergh in the French Renaissance style.
Q6. What is Katara Hospitality?
Katara Hospitality is a Qatari state-owned company founded in 1970, operating as Qatar’s flagship hotel owner and manager, with a global portfolio of over 42 luxury hotels including The Savoy in London.
Q7. How many rooms does The Plaza Hotel have?
The Plaza has 282 hotel rooms and suites, alongside 181 privately owned condominium residences that are separate from the hotel asset.
Q8. When did Qatar buy The Plaza Hotel?
Katara Hospitality completed its acquisition of The Plaza on July 2, 2018, paying approximately $600 million for 100% of the hotel asset.
The Plaza Hotel at 768 Fifth Avenue, New York City is owned by Katara Hospitality, the hotel investment arm of Qatar’s sovereign wealth fund, the Qatar Investment Authority.
Katara purchased the property on July 2, 2018 for $600 million, acquiring it from Sahara India Pariwar and minority shareholders including Ashkenazy Acquisition Corp. and Kingdom Holding Co. The Plaza is operated under a management contract by Fairmont Hotels & Resorts, part of Accor.
As of yesterday — October 15, 2026 — The Plaza announced it will close its doors on January 19, 2027 for a four-year historic facade restoration, the longest closure in the hotel’s 119-year history. The earliest possible reopening is 2031.
Until then, the last few months of 2026 represent the final opportunity for guests to experience one of the world’s most legendary hotels before the scaffolding goes up.
