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Legendary Hotel changes hands
Monday, 08 Jan, 2013
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The legendary Plaza Hotel has been sold to Indian billionaire Subrata Roy for $575 million dollars.
Subrata’s Sahara group was purchased from Israeli-owned realtor El Ad US Holdings and is co-owned by Kingdom Holding, which retains a 25% stake in the property.
The hotel. which was built in 1907, was renovated in 2008 and now contains 282 hotel rooms and 152 private condominium units. It is managed by Fairmont Hotels and Resorts.
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