Historic Plaza Hotel Sold to Qatari-Owned Company

A Qatari state-owned company has taken over New York’s Plaza Hotel, according to the operator of the historic property, reports Crain’s New York Business.

Katara Hospitality, Qatar Investment Authority’s hotel division, completed the purchase on July 2, according to a representative for Accor SA, which was told of the ownership change.

Katara acquired 100 percent of the property from its majority owner, Sahara India Pariwar, as well as minority owners Ashkenazy Acquisition Corp., Kingdom Holding Co. and Sant Singh Chatwal, according to people with knowledge of the matter, who asked not to be identified. The transaction was valued at $600 million, one of the people said.

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