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Plaza Hotel Sold for $600 Million

Qatar state-owned, Katara Hospitality purchased 100% of the ownership in the iconic, New York destination.

Plaza Hotel Katara Hospitality has acquired the Plaza Hotel at 768 5th Ave. in Midtown Manhattan.

NEW YORK CITY—Owned by the Qatari government, Katara Hospitality, the largest hotel owner, developer and operator in Qatar, for approximately $600 million, acquired full ownership of the Plaza Hotel. This was first reported by Reuters earlier this week.

Katara purchased a 70% interest from the Indian conglomerate, Sahara India Pariwar, a 5% interest from Sant Singh Chatwal of Dream Hotel Management and the remaining 25% stake from Prince Alwaleed Bin Talal’s Kingdom Holdings and Ashkenazy Acquisition, according to The New York Post.

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Betsy Kim

Betsy Kim

Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.

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