Many people still ask: does Donald Trump own The Plaza Hotel? The answer, as of 2025, is no—Donald Trump no longer owns the historic Manhattan property. Once one of the crown jewels in his real estate portfolio, The Plaza Hotel was sold by Trump more than three decades ago after financial struggles forced him to part with the landmark.
Today, the hotel is owned by Katara Hospitality, a luxury hotel investment and management company based in Qatar. The Plaza remains one of New York City’s most famous hotels, but Trump’s connection to it is purely historical.
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Trump’s Acquisition of The Plaza Hotel
Donald Trump purchased The Plaza Hotel in 1988 for $407.5 million, acquiring it from Westin Hotels at a time when the property was considered one of the most prestigious addresses in New York City. Located at the corner of Fifth Avenue and Central Park South, The Plaza symbolized luxury, history, and Old New York glamour—a perfect fit for Trump’s public image during the late 1980s.
At the time of the purchase, Trump was already well-known for his real estate empire, including Trump Tower and several casino properties in Atlantic City. The acquisition of The Plaza further cemented his reputation as a developer interested in high-profile, iconic real estate.
In statements made during the purchase, Trump described The Plaza as a “masterpiece” and said he was buying it not as a business deal but as an act of love for New York City. His vision was to restore the hotel to its early 20th-century elegance and modernize its operations for a new generation of luxury travelers.
The Costly Renovations and Financial Trouble
Trump’s ownership of The Plaza was marked by both ambition and financial challenge. Shortly after acquiring the property, he launched an extensive renovation program estimated at $50 million, aimed at restoring the hotel’s grandeur while updating guest rooms, event spaces, and amenities.
The renovations included reworking the Palm Court, improving the famous Oak Room, and upgrading suites to appeal to elite clientele. Despite these efforts, The Plaza quickly became a financial burden.
By the early 1990s, Trump was facing mounting debts across his business empire. His real estate and casino holdings were highly leveraged, and the economic downturn of the early decade hit the luxury hospitality market hard. The Plaza Hotel, while prestigious, was not generating enough revenue to offset the cost of its purchase and renovation.
Trump later described the hotel as a “trophy property” that never made much profit, acknowledging that the acquisition was more symbolic than financially strategic.
The Sale of The Plaza Hotel
In 1995, Donald Trump sold The Plaza Hotel to a group of investors led by Prince Alwaleed bin Talal of Saudi Arabia and Singapore-based Kwek Leng Beng, the executive chairman of City Developments Limited. The sale price was approximately $325 million, significantly less than Trump’s original purchase price and investment.
The sale marked the end of Trump’s ownership of one of New York’s most famous hotels. It also represented one of several asset divestitures he made during the 1990s as part of efforts to reduce his personal and corporate debt.
After the sale, the new owners undertook additional renovations to maintain the property’s luxury status while keeping many of its classic design elements intact.
Who Owns The Plaza Hotel Today?
As of December 2025, The Plaza Hotel is owned by Katara Hospitality, a Qatari government-owned global hotel investment company. Katara acquired the property in 2018 for approximately $600 million from Sahara India Pariwar, an Indian conglomerate that had purchased it several years earlier.
Katara Hospitality has maintained The Plaza’s legacy as one of the most luxurious hotels in the world. The company’s management approach emphasizes heritage preservation, ensuring that the building’s architectural and historical significance remains intact while integrating modern luxury amenities.
Under Katara’s ownership, The Plaza continues to operate as both a hotel and a mixed-use property, featuring private residences, retail spaces, and event venues. The hotel is managed under the Fairmont Hotels & Resorts brand, part of the Accor Group, which oversees its day-to-day operations.
The Plaza Hotel’s Place in New York City History
The Plaza Hotel has stood as an icon of Manhattan since its original opening in 1907. Designed by architect Henry Janeway Hardenbergh, who also created The Dakota Apartments, the French Renaissance-inspired building quickly became synonymous with luxury and high society.
Over the years, The Plaza has hosted presidents, royalty, and celebrities from around the world. It has been featured in countless films and television shows, including Home Alone 2: Lost in New York, The Great Gatsby, and North by Northwest.
During Trump’s ownership, the hotel gained additional visibility through media appearances and events tied to his public persona. However, despite his marketing influence, Trump’s tenure as owner was relatively short compared to the hotel’s long and storied past.
Today, The Plaza remains one of the most photographed and recognizable buildings in New York, serving as both a symbol of old-world opulence and modern hospitality excellence.
Donald Trump’s Legacy with The Plaza
Although Donald Trump no longer owns The Plaza Hotel, his association with it remains a memorable chapter in his business career. The purchase represented his drive to acquire iconic properties that embodied prestige and media attention.
During the late 1980s, Trump’s real estate brand was built around high-profile acquisitions, and The Plaza was among his most glamorous. While financially unprofitable, the purchase enhanced his public image as a figure who valued architectural grandeur and cultural prominence.
Even after the sale, Trump continued to reference The Plaza in interviews and books as one of his most personally meaningful investments. The property’s prominence in his business history is often cited alongside other landmark holdings like Trump Tower and Mar-a-Lago.
However, The Plaza’s eventual sale also demonstrated the financial overextension that defined part of Trump’s early career. His ownership of trophy properties often carried symbolic weight but came with substantial financial risk.
The Plaza Hotel Today
In 2025, The Plaza remains one of the top luxury hotels in the United States. The property offers 282 guest rooms, including 102 suites, along with its world-famous Palm Court, the Champagne Bar, and The Plaza Food Hall.
Guests continue to visit for its history, architecture, and location overlooking Central Park. The hotel also hosts major social events, weddings, and business gatherings.
Katara Hospitality’s ongoing stewardship ensures that The Plaza maintains its historic charm while evolving to meet modern luxury standards. Despite changing ownership over the years, the hotel has retained its identity as a cornerstone of New York elegance.
A Defining Moment in Trump’s Real Estate Career
The question—does Donald Trump own The Plaza Hotel—reflects enduring public fascination with both the man and the building. Though his ownership ended decades ago, the connection between Trump and The Plaza remains part of New York’s real estate history.
Trump’s tenure was marked by vision, extravagance, and controversy—hallmarks of his business approach that continue to define his public image today. The Plaza Hotel stands as a reminder of both his ambition and the limits of even the most prestigious investments when faced with economic challenges.
Donald Trump no longer owns The Plaza Hotel, but his brief stewardship left an imprint on one of New York City’s greatest landmarks—a chapter that continues to fascinate history enthusiasts, business analysts, and hotel guests alike.
