The Plaza Hotel in New York City was last valued at $600 million in a significant transaction that took place in 2018. This amount reflects the purchase price paid for 100% ownership of the iconic property.
A Landmark Transaction
In July 2018, the renowned Plaza Hotel was acquired by Katara Hospitality, a state-owned entity from Qatar. This acquisition of full ownership marked a substantial investment in one of New York's most famous and historically significant luxury hotels. The $600 million price tag highlights the enduring appeal and high market value of such a prime piece of real estate in a global city.
Key Details of the Acquisition
The transaction involved the complete transfer of ownership, cementing the hotel's valuation at that time.
| Aspect | Detail |
|---|---|
| Purchase Price | $600 Million |
| Acquisition Date | July 2018 |
| Purchaser | Katara Hospitality (Qatar state-owned) |
| Ownership Acquired | 100% |
The Enduring Value of an Icon
The Plaza Hotel's valuation at $600 million underscores its status not just as a luxury accommodation, but as a cultural landmark. Its strategic location at Fifth Avenue and Central Park South, combined with its rich history and architectural grandeur, contributes significantly to its market worth.
Key factors contributing to its high value include:
- Iconic Status: Recognized globally as a symbol of luxury and New York City.
- Prime Location: Unrivaled position overlooking Central Park and proximity to high-end shopping and cultural attractions.
- Historical Significance: A designated National Historic Landmark, preserving its unique character and heritage.
- Reputation for Luxury: Known for its exquisite service, opulent interiors, and world-class amenities.
While market values for real estate can fluctuate over time due to various economic and industry factors, the $600 million sale price provides the most recent definitive valuation of the Plaza Hotel based on a full ownership transaction.
