The question “does Donald Trump own The Plaza Hotel” continues to surface decades after the former president’s ownership ended. As of 2025, Donald Trump no longer owns the iconic Manhattan landmark. The Plaza Hotel—one of New York City’s most luxurious and historic addresses—is currently owned by Katara Hospitality, a Qatari government-owned global hotel management company. While Trump once held the property during the height of his 1980s real estate empire, his ownership ended in the mid-1990s amid significant financial turmoil.
The Plaza Hotel: A New York City Icon
Before delving into Trump’s involvement, it’s important to understand why The Plaza Hotel holds such prestige. Standing at the corner of Fifth Avenue and Central Park South, The Plaza has been a symbol of Manhattan elegance since it first opened in 1907. Designed by renowned architect Henry Janeway Hardenbergh, the building’s French Renaissance style and lavish interiors have made it one of the most recognizable hotels in the world.
Over the years, The Plaza has hosted royalty, world leaders, movie stars, and major cultural events. It’s appeared in classic films like The Great Gatsby (1974), North by Northwest (1959), and Home Alone 2: Lost in New York (1992), solidifying its place in popular culture.
By the time Donald Trump entered the picture in the late 1980s, The Plaza was already a century-old legend—but one in need of revitalization.
Trump’s Purchase of The Plaza Hotel
Donald Trump acquired The Plaza Hotel in 1988 from Westin Hotels for $407.5 million, a massive sum at the time. The purchase fit his pattern of buying high-profile, globally recognized properties that carried both luxury and prestige.
At the time, Trump was expanding his real estate empire across New York City and beyond. His holdings already included Trump Tower, Trump Plaza, and multiple properties in Atlantic City. Buying The Plaza was as much a branding move as it was an investment.
Trump described the hotel as a “masterpiece” and said he viewed the acquisition not just as a business transaction, but as a personal mission to restore an American treasure. He appointed his then-wife, Ivana Trump, as president of the hotel to oversee daily operations and guide its restoration.
The Restoration Effort
Under Trump’s ownership, The Plaza underwent extensive renovations aimed at bringing back its early 20th-century grandeur. The project reportedly cost more than $50 million, focusing on restoring the Palm Court’s glass dome, updating guest suites, and reintroducing the old-world charm that had defined The Plaza for generations.
Ivana Trump played a key role in the design and management of the renovation. She reimagined the décor, blending traditional European luxury with contemporary touches. The restoration was widely covered by the media, reinforcing the Trump family’s association with high-end style and opulence.
The project also reinforced Trump’s public image as a businessman who blended real estate investment with celebrity culture. For a brief period, The Plaza became an extension of his personal brand—luxurious, ambitious, and distinctly New York.
Financial Struggles and Mounting Debt
Despite the fanfare surrounding the purchase, The Plaza Hotel soon became a financial burden. By the early 1990s, the U.S. economy had entered a downturn, and Trump’s highly leveraged business model began to collapse under heavy debt.
The Plaza, while prestigious, was not a strong revenue generator. Maintenance costs, loan payments, and renovation expenses outpaced profits. Trump himself later admitted that The Plaza was a “trophy asset” that he bought more for prestige than for financial return.
At the same time, his Atlantic City casinos and other real estate ventures were also struggling, forcing him to renegotiate with lenders and restructure his finances.
By 1992, The Plaza Hotel was placed under the control of lenders after Trump defaulted on debt payments. He retained partial ownership for a few more years but was no longer in full control of the property’s operations.
The Sale of The Plaza Hotel
In 1995, Donald Trump sold The Plaza Hotel to a partnership led by Prince Alwaleed bin Talal of Saudi Arabia and Kwek Leng Beng, a Singaporean businessman and the chairman of City Developments Limited. The sale price was roughly $325 million, substantially less than Trump’s original purchase price.
The transaction ended Trump’s ownership of the hotel and marked one of several divestments he made during the mid-1990s as part of broader efforts to stabilize his financial position.
Although he no longer owned it, Trump’s tenure had left an indelible mark on The Plaza. His restoration efforts had preserved many of the hotel’s historic features and kept it in the public eye as a symbol of luxury and power.
Ownership Changes After Trump
After Trump’s sale, The Plaza Hotel changed hands several times.
- In 2004, Elad Properties, an Israeli development firm, purchased the hotel and began converting part of it into private condominiums while maintaining the remainder as a hotel.
- In 2012, India’s Sahara India Pariwar group acquired a majority stake in the property.
- Finally, in 2018, Katara Hospitality, a Qatari state-owned investment company, bought The Plaza for approximately $600 million.
Under Katara’s ownership, The Plaza has continued to operate as one of the premier hotels in the world, managed by Fairmont Hotels & Resorts, part of the Accor Group. The company has maintained the property’s balance between its hotel function and luxury residences, preserving both its history and profitability.
Who Owns The Plaza Hotel Today?
As of December 2025, The Plaza Hotel remains under the ownership of Katara Hospitality, which oversees a portfolio of more than 40 luxury hotels worldwide. The company is known for acquiring historic, culturally significant properties and restoring them to their former glory.
The Plaza continues to operate as a five-star hotel with 282 guest rooms, including 102 suites, as well as private residences and event spaces. The iconic Palm Court, Oak Room, and Champagne Bar remain central attractions, alongside high-end retail and dining venues.
The Plaza has successfully retained its reputation as a symbol of New York City sophistication, blending early 20th-century architecture with modern luxury standards.
Donald Trump’s Legacy at The Plaza
While Donald Trump no longer owns The Plaza Hotel, his brief tenure remains a notable chapter in both his career and the property’s history. His restoration work preserved the hotel’s structural integrity and reinvigorated its image during a time when it was losing relevance among newer luxury destinations.
However, the financial fallout from his ownership also reflected the challenges of Trump’s broader business model. Many of his “trophy properties” were purchased with large amounts of debt, making them vulnerable during market downturns.
Trump’s experience with The Plaza offers a clear example of the balance between branding and economics in his real estate strategy. He elevated the property’s visibility but struggled to turn it into a sustainable financial success.
Despite parting ways with the hotel decades ago, Trump often references his time as its owner when discussing his real estate career. The Plaza remains a recognizable symbol of his 1980s empire—glamorous, ambitious, and larger-than-life.
The Plaza Hotel’s Enduring Cultural Role
Today, The Plaza remains as much a cultural institution as it is a luxury hotel. It continues to attract celebrities, world leaders, and travelers from across the globe. The hotel’s architectural beauty and cinematic legacy make it one of New York’s most photographed landmarks.
Events such as high-profile weddings, business conferences, and fashion galas regularly take place within its halls. The Plaza also remains a popular filming location and tourist attraction, drawing visitors eager to experience a piece of Manhattan history.
Its ongoing success demonstrates how the hotel has evolved beyond any one owner, including Trump, to become a permanent fixture of New York City’s identity.
From Trump to Katara: A Timeline of Ownership
For clarity, here’s a concise timeline summarizing key ownership changes:
| Year | Owner | Notes |
|---|---|---|
| 1907 | Opened by Harry S. Black and the Fuller Company | Original construction completed. |
| 1988 | Donald Trump | Purchased for $407.5 million. |
| 1995 | Prince Alwaleed bin Talal & Kwek Leng Beng | Trump sold the hotel amid debt crisis. |
| 2004 | Elad Properties | Converted part of the hotel into condominiums. |
| 2012 | Sahara India Pariwar | Acquired majority stake. |
| 2018 | Katara Hospitality (Qatar) | Current ownership. |
This ownership evolution highlights the hotel’s enduring value and international appeal, transcending economic cycles and changing markets.
Conclusion
So, does Donald Trump own The Plaza Hotel today? The answer is no. Trump’s ownership ended in 1995 when financial difficulties forced him to sell the property. Since then, The Plaza has continued to thrive under new ownership, most recently with Katara Hospitality, which has maintained the hotel’s status as a global luxury icon.
Trump’s brief stewardship remains an important part of the hotel’s story—a period defined by grandeur, renovation, and financial challenges that mirrored his broader business journey.
The Plaza Hotel endures as one of New York’s greatest landmarks—a place where history, elegance, and ambition meet. While Donald Trump’s time as its owner is long past, the legacy of that era remains woven into the story of the building that continues to define Fifth Avenue’s skyline.