Katara Hospitality makes its first acquisition in the United States of America with the addition of The Plaza to its global portfolio
17th October 2018
– The world’s most famous hotel located in the heart of New York City –
Doha, Qatar – Katara Hospitality, a leading global hotel owner, developer and operator based in Qatar, announced the expansion of its global portfolio with the acquisition of The Plaza, one of New York City’s most iconic hotels.
The acquisition brings Katara Hospitality’s portfolio of properties in operation or under development to 39 and marks the company’s first acquisition in the United States of America. The announcement further builds on Katara Hospitality’s vision for iconic properties in strategic markets to commit significant investment over the long term.
On this occasion, Sheikh Nawaf Bin Jassim Bin Jabor Al-Thani, Chairman of Katara Hospitality said: “The Plaza represents a true hospitality milestone in our portfolio of iconic hotels. Its grand and statuesque appearance is the ultimate in luxurious hospitality. We believe this investment will add operational strength and build on the foundations of our growing portfolio.”
“Katara Hospitality’s vision is to build a portfolio of leading hotels in key destinations around the world. The Plaza is the ideal opportunity to expand our footprint into this vibrant and exciting market.” He added.
As one of the world’s most iconic hotels, The Plaza hotel has set the standard for luxury and service since first opening its doors in 1907. Today it remains the ultimate luxury lifestyle destination, with a new and contemporary spirit. Offering 282 keys, including 130 distinctive guestrooms, 100 luxurious condominium units and 52 private residences. Ultra-luxury hotel on Central Park, featured in over 30 Hollywood films. All suites include 24-hour butler service.
The Plaza boasts an extraordinary portfolio of refined experiences. Lifestyle, beauty and wellness offerings cater to guests and locals alike, and include over 120,000 sq. ft of world-class retail collection, the flagship location of Warren-Tricomi Salon, home to the luxurious Guerlain Spa, and the preeminent integrative medical and fitness center, LA PALESTRA. The Palm Court provides a quintessential New York experience with its famed Afternoon Tea, and the opulent Grand Ballroom continues to host the world’s most memorable events.
Chief Executive Officer of Katara Hospitality, said: “For more than a century, this historic architectural gem has provided exceptional hospitality and hosted dignitaries and celebrities, as well as business and leisure travelers. We look forward to continuing its long-standing tradition of excellence.”
The Plaza hotel is managed by Fairmont Hotels & Resorts a chain of luxury hotels owned by AccorHotels. In 1969, this timeless destination is also the only New York City hotel to be selected as a National Historic Landmark. The Plaza was listed on the National Register of Historic Places in 1978, and in 1986 the hotel was designated a National Historic Landmark; currently the Plaza is the only New York City hotel with this prestigious designation.
In 2005, eight interior rooms of The Plaza were designated by The New York City Landmarks Preservation Commission: The Palm Court, the Grand Ballroom, the Terrace Room, the Edwardian Room, the Oak Room, and Oak Bar, the 59th Street lobby, and the Fifth Avenue lobby. The Plaza is also a member of Historic Hotels of America.