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[[File:Plaza Hotel May 2010.JPG|left|thumb|The Plaza Hotel and surrounding buildings (including the [[Solow Building]] in the center background) as seen from [[Central Park]] in May 2010]]
 
The Plaza Hotel is at 768 [[Fifth Avenue]] in the [[Midtown Manhattan]] neighborhood of [[New York City]].<ref name="ZoLa">{{Cite web|last=|first=|date=|title=768 5 Avenue, 10019|url=https://zola.planning.nyc.gov/l/lot/1/1274/7504#16.21/40.764454/-73.972105|url-status=live|archive-url=|archive-date=|access-date=September 8, 2020|website=|publisher=[[New York City Department of City Planning]]}}</ref> It faces [[Central Park South]] (59th Street) and [[the Pond and Hallett Nature Sanctuary]] in [[Central Park]] to the north; [[Grand Army Plaza (Manhattan)|Grand Army Plaza]] to the east; and [[58th Street (Manhattan)|58th Street]] to the south. Fifth Avenue itself is opposite Grand Army Plaza from the hotel.<ref name="NYCityMap">{{Cite web|last=|first=|date=|title=NYCityMap|url=http://maps.nyc.gov/|url-status=live|archive-url=|archive-date=|access-date=March 20, 2020|website=NYC.gov|publisher=[[New York City Department of Information Technology and Telecommunications]]}}</ref><ref name="NYCL (1969) p. 1">{{harvnb|ps=.|Landmarks Preservation Commission|1969|p=1}}</ref> The Plaza Hotel's site covers {{convert|53,772|ft2||abbr=}}.<ref name="ZoLa" /> It measures {{Convert|285|ft||abbr=}} along 58th Street and {{Convert|275|ft||abbr=}} along Central Park South, with a depth of {{convert|200.83|ft}} between the two streets.<ref name="NPS p. 2">{{harvnb|National Park Service|1978|ps=.|p=2}}</ref> As completed in 1907, it originally measured {{Convert|145|ft||abbr=}} along 58th Street and {{Convert|250|ft||abbr=}} along Central Park South, with an "L" running the entire 200-foot depth of the lot along Grand Army Plaza.<ref name="rer19050617">{{cite journal|date=June 17, 1905|title=Fuller Company Will Build the New Plaza Hotel|url=https://rerecord.library.columbia.edu/document.php?vol=ldpd_7031148_035&page=ldpd_7031148_035_00001400&no=10|journal=The Real Estate Record: Real Estateestate Recordrecord and Buildersbuilders' Guideguide|volume=75|pages=1325|via=[[Columbia University|columbia.edu]]|number=1944}}</ref>
 
The Plaza Hotel is near the [[General Motors Building (Manhattan)|General Motors Building]] to the east, [[Park Lane Hotel]] to the west, and [[Solow Building]] and [[Bergdorf Goodman Building]] to the south.<ref name="NYCityMap" /> The hotel's main entrance faces the ''[[Pulitzer Fountain]]'' in the southern portion of Grand Army Plaza.<ref name="NYCL (1969) p. 1" /><ref name="Stern (1987) p. 18">{{harvnb|Stern|Gilmartin|Mellins|1987|ps=.|p=18}}</ref> An entrance to the [[Fifth Avenue–59th Street station]] of the [[New York City Subway]]'s {{NYCS trains|Broadway 60th}} is within the base of the hotel at Central Park South.<ref>{{cite NYC neighborhood map|Midtown}}</ref>
 
== Design ==
The Plaza Hotel, a [[French Renaissance]]-inspired [[château]]-style building,<ref name="nycland">{{cite nycland|pages=156-157}}</ref> contains 19 stories and is {{convert|251.92|ft|abbr=on|}} tall.<ref name="Emporis">{{cite web|title=The Plaza Residences|url=https://www.emporis.com/buildings/114521/the-plaza-residences-new-york-city-ny-usa|access-date=November 25, 2020|publisher=Emporis}}</ref> The Plaza Hotel's floors use an European floor-numbering pattern, where the first floor is one story above the ground floor, so the highest floor is numbered 18.<ref name="wp19750615">{{cite newsnew|last=Friedlander|first=Paul J. C.|date=June 15, 1975|title=The Plaza: 'That Great Old Lady of New York City Hostelries'|page=171|work=Washington Post|url=https://search.proquest.com/docview/135320103|url-access=subscription|access-date=November 28, 2020|issn=0190-8286|id={{ProQuest|135320103}}|via=ProQuest}}</ref> It was designed by [[Henry Janeway Hardenbergh]] in 1907,<ref name="NYCL (1969) p. 1" /><ref name="NPS p. 2" /><ref name="nycland" /> with a later addition by [[Warren and Wetmore]] from 1919 to 1922.<ref name="nycland" /><ref name="Emporis" /><ref name="aia5">{{cite aia5|page=338}}</ref> The interiors of the main public spaces were primarily designed by Hardenbergh, Warren and Wetmore, and [[Schultze & Weaver]].<ref name="NYCL p. 3" /> The other interior spaces were designed by [[Annabelle Selldorf]] and date largely to a renovation in 2008.<ref name="aia5" /> Numerous contractors were involved in the construction of the hotel, including terracotta contractor [[Atlantic Terra Cotta]] and brick contractor Pfotenhauer & Nesbit.<ref name="Arch (1907) p. 187">{{harvnb|ps=.|Architecture|1907|p=187}}</ref>
 
=== Facade ===
[[File:ThePlaza Hotel West 59th St. Entrance.jpg|thumb|Entrance on Central Park South]]
The detail of the [[facade]] is concentrated on its two primary [[Elevation (architecture)|elevations]], which face north toward Central Park and east toward Fifth Avenue. The facade's [[Articulation (architecture)|articulation]] consists of three horizontal sections similar to the components of a [[column]], namely a base, shaft, and crown. The northern and eastern elevations are also split vertically into three portions, with the center portion being recessed. The northeastern and southeastern corners of the hotel contain rounded corners, which resemble [[turret]]s. There are numerous [[loggia]]s, [[balustrade]]s, columns, [[pilaster]]s, balconies, and arches repeated on various parts of the facade.<ref name="NYCL (1969) p. 1" /><ref name="NPS p. 2"/> The 1921 annex contains a design that is largely similar to Hardenbergh's 1907 design.<ref name="Architecture and Building 1922">{{cite journal|year=1922|title=Hotel Plaza Addition, New York|url=https://books.google.com/books?id=mS_nAAAAMAAJ|journal=Architecture and Building|publisher=W.T. Comstock Company|volume=54|pages=16–1716-17}}</ref>
 
The ground and first stories of the facade{{efn|In this article, the facade is described using the interior floor-numbering system, which uses European floor numbering. For example, the first floor is one floor above the ground level; under U.S. floor numbering, it would be considered the second floor.<ref name="wp19750615"/>}} are clad with [[Rustication (architecture)|rusticated]] blocks of [[marble]], while the third story contains a smooth marble surface.<ref name="NYCL (1969) p. 1"/><ref name="NPS p. 2" /><ref name="AA (1907) p. 134">{{harvnb|American Architect|1907|ps=.|p=134}}</ref> The Plaza Hotel contained two guest entrances in the 1907 design: the main entrance on Central Park South and a private entrance for long-term residents on 58th Street.<ref name="AA (1907) p. 134" /><ref name="NYCL (1969) p. 2" /> The main entrance, in the center of the Central Park South facade, contains a porch above the three center bays, and large doorways.<ref name="NYCL (1969) p. 2">{{harvnb|ps=.|Landmarks Preservation Commission|1969|p=2}}</ref><ref name="NPS p. 5">{{harvnb|National Park Service|1978|ps=.|p=5}}</ref> The Grand Army Plaza side originally contained a terrace called the Champagne Porch,<ref name="NPS p. 2" /><ref name="NYCL (1969) p. 2" /> and three minor entrances, including one to the porch.<ref name="ABM (1907) p. 1">{{harvnb|Architects' and Builders' Magazine|1907|ps=.|p=1}}</ref><ref name="nyt19070929" /> The large central entry on that side, created in 1921, consists of six [[Tuscan order|Tuscan]]-style columns, supporting a balcony on the first floor, immediately above ground level. The first and second floors at the center of the Grand Army Plaza facade contains paired [[Corinthian order|Corinthian]]-style pilasters supporting an entablature.<ref name="NPS p. 2" /><ref name="NYCL (1969) p. 2" />
The Plaza Hotel was developed with a steel frame superstructure with hollow tile floors, as well as wire-glass enclosures around all stairways and elevators.<ref name="AA (1907) p. 134" /> Originally, five marble staircases led from the ground floor to all of the other floors.<ref name="Arch (1907) p. 179">{{harvnb|ps=.|Architecture|1907|p=179}}</ref><ref name="ABM (1907) p. 4">{{harvnb|Architects' and Builders' Magazine|1907|ps=.|p=4}}</ref><ref name="ABM (1907) p. 16">{{harvnb|Architects' and Builders' Magazine|1907|ps=.|p=16}}</ref> As constructed, the stories above the ground floor surrounded a large courtyard,<ref name="nyt19070929" /> which was covered over with office space in a 1940s renovation.<ref name="NPS p. 5" /><ref name="nyt19820927">{{Cite news|last=Goldberger|first=Paul|date=September 27, 1982|title=At 75, Plaza Hotel Seeks to Remain Forever Old; an Appraisal|language=en-US|work=The New York Times|url=https://www.nytimes.com/1982/09/27/nyregion/at-75-plaza-hotel-seeks-to-remain-forever-old-an-appraisal.html|url-status=live|access-date=November 25, 2020|issn=0362-4331}}</ref> Hardenbergh, in designing the Central Park South foyer, had believed the lobby to be the most important space in the hotel,<ref name="NYCL p. 10">{{harvnb|Landmarks Preservation Commission|2005|ps=.|p=10}}</ref><ref name="Hardenbergh 1902" /> as did Warren and Wetmore when they designed the Fifth Avenue lobby.<ref name="AF-1923-11">{{cite journal|last=Hopkins|first=Walter|date=November 1923|title=Architectural Design for Hotel Interiors|url=https://usmodernist.org/AF/AF-1923-11.pdf|journal=Architectural Forum|pages=205, 208}}</ref><ref name="NYCL pp. 12-13">{{harvnb|Landmarks Preservation Commission|2005|ps=.|pp=12–13}}</ref> Furthermore, Warren and Wetmore had thought restaurants to be the second most significant space in a hotel, in designing the Terrace Room.<ref name="AF-1923-11" /><ref name="NYCL p. 13" />
 
There were originally laundry rooms in the basement and the eighteenth floor.<ref name="AA (1907) p. 136" /><ref name="ABM (1907) p. 25">{{harvnb|Architects' and Builders' Magazine|1907|ps=.|p=25}}</ref> The basement also contained a grill room, kitchen, various refrigeration rooms, and amenities such as a [[Turkish bath]] and a barber shop, when it opened in 1907.<ref name="nyt19070929" /><ref name="ABM (1907) p. 8">{{harvnb|Architects' and Builders' Magazine|1907|ps=.|p=8}}</ref> Concealed within the mansard roof were originally the housekeepers' quarters and maids' dormitories; the eighteenth floor had carpentry, ironing, and tailors' departments.<ref>''Hotel Monthly'' 15, no. 176 (November 1907), cited in {{harvnb|Satow|2019|ps=.|loc=chapter 1}}</ref> The eighteenth-floor spaces had become offices by the late 20th century.<ref name="Satow ch. 11">{{harvnb|Satow|2019|ps=.|loc=chapter 11}}</ref>
 
==== Hallways and lobbies ====
The Grand Army Plaza lobby, also called the Fifth Avenue lobby, was created during Warren and Wetmore's expansion as the hotel's new main lobby, occupying the former Plaza Restaurant's space.<ref name="Architecture and Building 1922" /> The lobby contains a "U"-shaped mezzanine running above the northern, eastern, and southern walls, with three entrance vestibules below the eastern section of the mezzanine. The Fifth Avenue lobby was decorated in bas-relief and preserved some of the original decorations from the Plaza Restaurant, including paneled pilasters and a beamed ceiling. Other features, including the mosaic floor and a crystal chandelier, were added by Warren and Wetmore.<ref name="NYCL p. 32">{{harvnb|Landmarks Preservation Commission|2005|ps=.|p=31 (PDF p. 32)}}</ref>
 
The 58th Street entrance has three elevators and adjoins what was formerly a women's reception room.<ref name="Arch (1907) p. 179" /><ref name="rer19070914">{{cite journal|date=September 14, 1907|title=Newest Great Hotel|url=https://rerecord.library.columbia.edu/document.php?vol=ldpd_7031148_040&page=ldpd_7031148_040_00000436&no=1|journal=The Real Estate Record: Real Estateestate Recordrecord and Buildersbuilders' Guideguide|volume=80|pages=398|via=[[Columbia University|columbia.edu]]|number=2061}}</ref> Running west of this lobby is a staircase leading up to a mezzanine-level corridor.<ref name="NYCL pp. 21-22" /><ref name="NPS p. 11" /> This corridor has marble floors and ashlar walls, abutting the Terrace Room's balcony to the north and a foyer to the south. The mezzanine-level foyer has marble floors, a painted coffered ceiling supported by two square columns, and a bank of two elevators to the first-floor ballroom. A marble staircase, with a marble and wooden balustrade, leads from the mezzanine foyer to the ballroom level.<ref name="NYCL pp. 66-68">{{harvnb|Landmarks Preservation Commission|2005|ps=.|pp=66–68 (PDF pp. 67–69)}}</ref>
 
The layout of the upper floors was based on the layout of the ground-floor hallways, because all the stairways and elevators were placed in the same position on upper floors.<ref name="Frohne p. 362">{{harvnb|Frohne|1907|ps=.|p=362}}</ref> On the third floor and all subsequent stories, a centrally located C-shaped corridor runs around the north, east, and south sides of the building, connecting to every room.<ref name="ABM (1907) p. 14">{{harvnb|Architects' and Builders' Magazine|1907|ps=.|p=14}}</ref>
The Terrace Room, west of the Palm Court,<ref name="NYCL pp. 21-22">{{harvnb|Landmarks Preservation Commission|2005|ps=.|pp=21–22 (PDF pp. 22–23)}}</ref> is part of Warren and Wetmore's 1921 design. The room was so named because it contains three terraces.<ref name="Architecture and Building 1922" /><ref name="NYCL p. 13">{{harvnb|Landmarks Preservation Commission|2005|ps=.|p=13}}</ref> The terraces split the room in thirds, increasing in height from east to west; they are separated by balustrades and connected by small staircases.<ref name="NYCL p. 62">{{harvnb|Landmarks Preservation Commission|2005|ps=.|p=62 (PDF p. 63)}}</ref> The space contains Renaissance style motifs on the pilasters, ceilings, and wall arches, as well as three chandeliers and rusticated-marble walls.<ref name="NYCL pp. 62-63">{{harvnb|Landmarks Preservation Commission|2005|ps=.|pp=62–63 (PDF pp. 63–64)}}</ref> [[John B. Smeraldi]] was commissioned to paint the Terrace Room's ornamentation.<ref name="Gura p. 92">{{harvnb|Gura|2015|ps=.|p=92}}</ref><ref name="NYCL pp. 62-63" /> The Terrace Room is surrounded by a balcony, with a painted coffer ceiling possibly commissioned by Smeraldi, as well as marble pilasters and floors.<ref name="NYCL p. 13" /> A balcony runs slightly above the Terrace Room on its southern wall.<ref name="NYCL p. 63">{{harvnb|Landmarks Preservation Commission|2005|ps=.|p=63 (PDF p. 64)}}</ref> Immediately south of the balcony is the Terrace Room's corridor and foyer.<ref name="NYCL pp. 21-22" /><ref name="NPS p. 11" />
 
The southwestern corner of the ground floor also originally contained a staff dining room before being redesigned as the Oyster Bar.<ref name="NPS p. 5" /> The southeastern corner originally contained the 58th Street Restaurant, which was exclusively for the hotel's permanent residents.<ref name="Arch (1907) p. 179" /> In 1934, it was replaced by a nightclub called the Persian Room.<ref name="NPS p. 6" /> The Persian Room had red and Persian blue upholstery by [[Joseph Urban]], five wall murals by [[Lillian Gaertner Palmedo]], and a 27-foot bar.<ref name="Brown p. 76">{{harvnb|Brown|1967|ps=.|p=76}}</ref><ref name="Satow ch. 6" /> The Persian Room operated until 1978.<ref name="Satow ch. 10">{{harvnb|Satow|2019|ps=.|loc=chapter 10}}</ref>
 
==== Ballroom ====
Hardenbergh's design included the State Apartments on the northern side of the first floor.<ref name="Frohne p. 356">{{harvnb|Frohne|1907|ps=.|p=356}}</ref><ref name="AA (1907) pp. 134-135">{{harvnb|American Architect|1907|ps=.|pp=134–135}}</ref> The [[state room]] was one of the most lavish suites in the entire hotel; it had a drawing room, antechambers, dining rooms, bedrooms and bathrooms, and food storage.<ref name="AA (1907) p. 135" /> Also on the first floor were private banquet, reception, and card rooms.<ref name="nyt19070929" /><ref name="Frohne p. 352" /><ref name="ABM (1907) p. 14" /> The state room was turned into a private dining area and restored in 1974.<ref name="NPS p. 6" /> Similarly ornate suites were located along the Central Park South side on eleven of the upper floors.<ref name="Gathje p. 81" />
 
In the early and mid-20th century, several designers such as [[Elsie de Wolfe]] and [[Cecil Beaton]] were hired to design special suites for the Plaza Hotel.<ref name="nyt19820927" /> During 2013, a {{Convert|900|ft2||abbr=|adj=on}} suite on the 18th floor of the hotel was furnished with various decorations from the movie [[The Great Gatsby (2013 film)|''The Great Gatsby'']]. The furnished room was based on the [[The Great Gatsby|novel of the same name]] by [[F. Scott Fitzgerald]], which had several scenes at the Plaza Hotel (see {{Section link||In media}}).<ref>{{Cite news|last=Ceallaigh|first=John O'|date=April 30, 2013|title=The New York Plaza hotel's new Great Gatsby suite|journal=Daily Telegraph|language=en-GB|url=https://www.telegraph.co.uk/travel/ultratravel/10028046/The-New-York-Plaza-hotels-new-Great-Gatsby-suite.html|access-date=June 5, 2020|issn=0307-1235}}</ref><ref>{{Cite news|last=Kurutz|first=Steven|date=April 24, 2013|title=Check In Under 'Jay'|language=en-US|work=The New York Times|url=https://www.nytimes.com/2013/04/25/garden/the-plaza-introduces-the-fitzgerald-suite.html|access-date=June 5, 2020|issn=0362-4331}}</ref>
 
== History ==
The lots making up the present-day Plaza Hotel were first parceled and sold by the [[government of New York City]] in 1853, and acquired by John Anderson from 1870 to 1881.<ref name="NYCL p. 3" /> Prior to the Plaza Hotel's development the site was either occupied by the New York Skating Club,<ref>{{harvnb|Gathje|2000|ps=.|pp=2–3}}</ref><ref name="Harris p. 6">{{harvnb|Harris|1981|ps=.|p=6}}</ref> or was vacant.<ref name="NYCL p. 3" /> When John Anderson died in 1881, his will stipulated that his land would pass to his son, John Charles Anderson.<ref name="nyt18870605">{{cite news|date=June 5, 1887|title=John Anderson's Will Invalid|page=10|work=The New York Times|url=https://newspapers.com/clip/63886742/|access-date=November 24, 2020|issn=0362-4331|via=newspapers.com {{open access}}}}</ref> The first development on the lot was proposed in 1882 when [[Ernest Flagg]] was enlisted to design a 12-story apartment building for a syndicate led by his father Jared.<ref>{{cite journal|date=December 23, 1882|title=Out Among the Builders|url=https://rerecord.library.columbia.edu/document.php?vollist=1&vol=ldpd_7031128_030&page=ldpd_7031128_030_00000636|journal=The Real Estate Record: Real Estateestate Recordrecord and Buildersbuilders' Guideguide|volume=30|pages=140|via=[[Columbia University|columbia.edu]]|number=771}}</ref><ref>{{harvnb|Stern|Mellins|Fishman|1999|ps=.|pp=530–531}}</ref><ref name="Stern (1983) p. 466">{{harvnb|Stern|Gilmartin|Massengale|1983|ps=.|p=466}}</ref> However, the Flagg apartment development was not built, likely due to a lack of funding.<ref name="NYCL p. 3" /><ref name="Stern (1983) p. 466" />
 
=== First hotel ===
John Duncan Phyfe and James Campbell acquired the site in 1883.<ref name="Stern (1983) p. 261" /><ref name="Stern (1999) pp. 529-530">{{harvnb|Stern|Mellins|Fishman|1999|ps=.|pp=529–530}}</ref><ref>{{Cite news|last=|first=|date=October 30, 1883|title=Sale of Fifth Avenue Plaza Lots|language=en-US|work=The New York Times|url=https://www.nytimes.com/1883/10/30/archives/sale-of-fifthavenue-plaza-lots.html|url-status=live|access-date=November 23, 2020|issn=0362-4331}}</ref> Phyfe and Campbell announced plans for a nine-story apartment building at the site that October,<ref>{{cite journal|last=|first=|date=October 13, 1883|title=Out Among the Builders|url=https://rerecord.library.columbia.edu/document.php?vol=ldpd_7031128_032&page=ldpd_7031128_032_00000336&no=1|journal=The Real Estate Record: Real Estateestate Recordrecord and Buildersbuilders' Guideguide|volume=32|pages=785|via=[[Columbia University|columbia.edu]]|number=813}}</ref> to be designed by [[Carl Pfeiffer (architect)|Carl Pfeiffer]],<ref name="Gathje p. 4">{{harvnb|Gathje|2000|ps=.|p=4}}</ref> and construction on the apartment block began that same year.<ref name="NYCL p. 3" /><ref name="Stern (1999) pp. 529-530" /><ref>{{Cite news|last=|first=|date=November 4, 1883|title=A Grand Family Hotel.; the Mammoth Structure to Be Erected on the Fifth-Avenue Plaza|language=en-US|work=The New York Times|url=https://www.nytimes.com/1883/11/04/archives/a-grand-family-hotel-the-mammoth-structure-to-be-erected-on-the.html|url-status=live|access-date=November 23, 2020|issn=0362-4331}}</ref> The builders borrowed over $800,000 from the [[New York Life Insurance Company]], and obtained a second mortgage to John Charles Anderson for a total investment of $2 million.{{efn-lg|New York Life's investment is equivalent to ${{Inflation|US-GDP|0.8|1888|r=2}} million, and the total investment is equivalent to ${{Inflation|US-GDP|2|1888|r=2}} million in {{Inflation year|US-GDP}}.{{inflation/fn|index=US-GDP|group=lower-alpha}}}}<ref name="nyt18880228">{{Cite news|last=|first=|date=February 28, 1888|title=Prospect of a New Hotel.; the New Structure at Central Park May Be Finished|language=en-US|work=The New York Times|url=https://www.nytimes.com/1888/02/28/archives/prospect-of-a-new-hotel-the-new-structure-at-central-park-may-be.html|url-status=live|access-date=November 23, 2020|issn=0362-4331}}</ref> By 1887, after taking three loans from New York Life, Phyfe and Campbell found that they did not have enough funds to complete the apartment block.<ref name="nyt18910826">{{Cite news|last=|first=|date=August 26, 1891|title=The Plaza Hotel Case; How Beers Bought a White Elephant for His Company|language=en-US|work=The New York Times|url=https://www.nytimes.com/1891/08/26/archives/the-plaza-hotel-case-how-beers-bought-a-white-elephant-for-his.html|url-status=live|access-date=November 25, 2020|issn=0362-4331}}</ref> The extent to which the apartment building was completed before the builders' bankruptcy is unclear.<ref name="NYCL p. 17">{{harvnb|Landmarks Preservation Commission|2005|ps=.|p=17}}</ref>{{efn|The 1885 E. Robinson Atlas shows the "Fifth Avenue Plaza Hotel" as occupying part of the site, without indicating its construction status<ref name="NYCL p. 17"/> and ''The New York Times'' of February 28, 1888, describes the hotel's interior as being partially furnished.<ref name=nyt18880228/> Although architectural writer [[Robert A. M. Stern]] implies that only the foundations were completed,<ref name="Stern (1999) pp. 529-530" /><ref name="NYCL p. 17"/> the building had progressed several stories above ground by 1886, when a worker died after falling seven stories from the structure.<ref>{{Cite news|date=March 23, 1886|title=FAlling Seven Stories.; a Workman Killed at the New Plaza Hotel in Fifty-ninth-street|language=en-US|work=The New York Times|url=https://www.nytimes.com/1886/03/23/archives/falling-seven-stories-a-workman-killed-at-the-new-plaza-hotel-in.html|access-date=November 27, 2020|issn=0362-4331}}</ref>}} In February 1888, brothers Eugene M. and Frank Earle entered contract to lease the hotel from Phyfe and Campbell, and furnish it.<ref name="nyt18880228" /> New York Life concurrently foreclosed on the apartment building,<ref name="Stern (1983) p. 261" /><ref>{{cite news|date=December 5, 1888|title=The Plaza Hotel Property Sold|page=2|work=New-York Tribune|url=https://www.newspapers.com/clip/63955089/|access-date=November 25, 2020|via=newspapers.com {{open access}}}}</ref> and that September, bought it at public auction for $925,000.<ref name="nyt18880919">{{Cite news|last=|first=|date=September 19, 1888|title=Sale of the Plaza Hotel|language=en-US|work=The New York Times|url=https://www.nytimes.com/1888/09/19/archives/sale-of-the-plaza-hotel.html|url-status=live|access-date=November 23, 2020|issn=0362-4331}}</ref> Shortly afterward, New York Life decided to remodel the interiors completely,<ref>{{Cite news|last=|first=|date=November 24, 1888|title=Must Be Reconstructed.; the Interior of the Plaza Hotel of Inferior Workmanship.|language=en-US|work=The New York Times|url=https://www.nytimes.com/1888/11/24/archives/must-be-reconstructed-the-interior-of-the-plaza-hotel-of-inferior.html|url-status=live|access-date=November 23, 2020|issn=0362-4331}}</ref> hiring architects [[McKim, Mead & White]] to complete the hotel.<ref name="NYCL p. 3" /><ref name="Stern (1983) p. 261" /> New York Life leased the hotel to Frederick A. Hammond in 1889,<ref>{{Cite news|last=|first=|date=April 17, 1899|title=Plaza Hotel May Close; Said that Mr. Hammond Will Not Get a Renewal of His Lease|language=en-US|work=The New York Times|url=https://www.nytimes.com/1899/04/17/archives/plaza-hotel-may-close-said-that-mr-hammond-will-not-get-a-renewal.html|url-status=live|access-date=November 23, 2020|issn=0362-4331}}</ref> and the Hammond brothers became the operators of the hotel for the next fifteen years.<ref name="Harris p. 9">{{harvnb|Harris|1981|ps=.|p=9}}</ref>
 
The first Plaza Hotel finally opened on October 1, 1890,<ref name="Gathje p. 4" /><ref>{{Cite news|last=|first=|date=September 30, 1890|title=For Eight Hours of Work.; Letter Carriers' Mass Meeting in Cooper Union Indorses the Bill|language=en-US|work=The New York Times|url=https://www.nytimes.com/1890/09/30/archives/for-eight-hours-of-work-letter-carriers-mass-meeting-in-cooper.html|url-status=live|access-date=November 24, 2020|issn=0362-4331}}</ref><ref name="tribune18900930">{{cite news|date=September 30, 1890|title=A Great Hotel Finished|page=7|work=New-York Tribune|url=https://www.newspapers.com/clip/64065129/|access-date=November 27, 2020|via=newspapers.com {{open access}}}}</ref> at a cost of $3 million.{{efn-lg|Equivalent to ${{Inflation|US-GDP|3|1890|r=2}} million in {{Inflation year|US-GDP}}{{inflation/fn|index=US-GDP|group=lower-alpha}}}}<ref name="Gathje p. 4" /><ref name="NPS p. 3">{{harvnb|ps=.|National Park Service|1978|p=3}}</ref><ref name="King 1892 p.">{{cite book|last=King|first=Moses|url=https://www.google.com/books/edition/King_s_Handbook_of_New_York_City/cKkUAAAAYAAJ|title=King's Handbook of New York City: An Outline History and Description of the American Metropolis|publisher=Moses King|year=1892|isbn=|location=|page=208|pages=|oclc=848600041}}</ref> The original hotel stood eight stories tall and had 400 rooms.<ref name="Gathje p. 4" /><ref name="King 1892 p." /> The interiors featured extensive mahogany and carved wood furnishings; lion motifs, representing the hotel's coat of arms; and a {{Convert|30|ft||-tall|abbr=|adj=mid}} dining room, with stained glass windows and gold and white decorations.<ref name="tribune18900930" /><ref name="King 1892 p." /><ref name="Harris pp. 8-9">{{harvnb|Harris|1981|ps=.|pp=8–9}}</ref> [[Moses King]], in his 1893 ''Handbook of New York City'', characterized the hotel as "one of the most attractive public houses in the wide world".<ref name="Stern (1983) p. 261" /><ref name="Harris p. 6" /> Despite being described as fashionable,<ref name="Gathje p. 6">{{harvnb|Gathje|2000|ps=.|p=6}}</ref> it was not profitable.<ref name="nyt18910826" /><ref name="Jackson p. 1003">{{harvnb|Jackson|2010|ps=.|p=1003}}</ref> ''The New York Times'' reported in 1891 that the hotel netted $72,000 in rental income, out of $1.8 million that New York Life had spent to complete the hotel, including loans to Phyfe and Campbell.{{efn-lg|The rental income is equivalent to ${{Inflation|US-GDP|0.072|1891|r=2}} million, and the total investment is equivalent to ${{Inflation|US-GDP|1.8|1891|r=2}} million in {{Inflation year|US-GDP}}.{{inflation/fn|index=US-GDP|group=lower-alpha}}}}<ref name="nyt18910826" />
 
=== Replacement and early 20th century ===
 
The first Plaza Hotel had been relatively remote when it was completed, but by the first decade of the 20th century, was part of a rapidly growing commercial district on Fifth Avenue.<ref name="NYCL p. 6">{{harvnb|Landmarks Preservation Commission|2005|ps=.|p=6}}</ref> Furthermore, several upscale hotels in Manhattan were also being rebuilt during that time.<ref>{{cite journal|date=June 24, 1905|title=The Hotels of Manhattan|url=https://rerecord.library.columbia.edu/document.php?vol=ldpd_7031148_035&page=ldpd_7031148_035_00001458&no=1|journal=The Real Estate Record: Real Estateestate Recordrecord and Buildersbuilders' Guideguide|volume=75|pages=1367|via=[[Columbia University|columbia.edu]]|number=1945}}</ref> In May 1902, a syndicate purchased the Plaza and three adjacent lots on Central Park South for $3 million.<ref>{{Cite news|last=|first=|date=May 4, 1902|title=In the Real Estate Field; Plaza Hotel Sale the Feature of Another Lively Week|language=en-US|work=The New York Times|url=https://www.nytimes.com/1902/05/04/archives/in-the-real-estate-field-plaza-hotel-sale-the-feature-of-another.html|url-status=live|access-date=November 23, 2020|issn=0362-4331}}</ref><ref>{{cite journal|date=May 3, 1902|title=The Real Estate Situation|url=https://rerecord.library.columbia.edu/document.php?vol=ldpd_7031148_029&page=ldpd_7031148_029_00000928&no=1|journal=The Real Estate Record: Real Estateestate Recordrecord and Buildersbuilders' Guideguide|volume=69|pages=788|via=[[Columbia University|columbia.edu]]|number=1781}}</ref>{{efn|The syndicate was composed of the Central Realty, Bond and Trust Company; Hallgarten and Company; and the [[George A. Fuller]] Company.<ref name=tribune19020603/>}} The sale was the largest-ever cash-only purchase for a Manhattan property at the time.<ref name=tribune19020603>{{cite news|date=June 3, 1902|title=Pay Cash for Plaza Hotel|page=7|work=New-York Tribune|url=https://www.newspapers.com/clip/63956845/|access-date=November 25, 2020|via=newspapers.com {{open access}}}}</ref><ref>{{cite news|date=June 3, 1902|title=Plaza Hotel Property Fetches $3,000,000 Cash|page=7|work=Brooklyn Daily Eagle|url=https://www.newspapers.com/clip/63956979/|access-date=November 25, 2020|via=newspapers.com {{open access}}}}</ref><ref>{{Cite news|last=|first=|date=June 3, 1902|title=Plaza Hotel Reconstruction; Ten Millions of Dollars Involved in the New Enterprise. The Purchase by the Fuller Company One of the Largest in the Annals of City Real Estate Transactions|language=en-US|work=The New York Times|url=https://www.nytimes.com/1902/06/03/archives/plaza-hotel-reconstruction-ten-millions-of-dollars-involved-in-the.html|url-status=live|access-date=November 25, 2020|issn=0362-4331}}</ref> The purchase was headed by [[Harry S. Black]]—who headed the [[George A. Fuller Company]], one of the syndicate's members—as well as German financier [[Bernhard Beinecke]].<ref name="NYCL p. 6" /><ref name="Gathje p. 11">{{harvnb|Gathje|2000|ps=.|p=11}}</ref><ref name="Harris p. 11">{{harvnb|Harris|1981|ps=.|p=11}}</ref> Shortly after the purchase, Black and Beinecke formed the Plaza Realty Company to redevelop the hotel.<ref>{{cite journal|date=June 14, 1902|title=Real Estate Notes|url=https://rerecord.library.columbia.edu/document.php?vol=ldpd_7031148_029&page=ldpd_7031148_029_00001267&no=1|journal=The Real Estate Record: Real Estateestate Recordrecord and Buildersbuilders' Guideguide|volume=69|pages=1097|via=[[Columbia University|columbia.edu]]|number=1787}}</ref> Black also formed the [[United States Realty and Construction Company]], a [[Trust law|trust]] whose subsidiaries included the Fuller Company and the Plaza Realty Company.<ref>{{cite flatiron|page=114}}</ref><ref>{{cite book|url=https://books.google.com/books?id=J2U3AQAAMAAJ|title=Moody's Manual of Corporation Securities|publisher=John Moody & Company|year=1903|page=|access-date=November 27, 2020|issue=v. 4}}</ref> To acquire sufficient funding for the redevelopment, Black and Beinecke approached barbed-wire entrepreneur [[John Warne Gates]], who agreed to fund the project on the condition that Frederic Sterry be named the managing director of the Plaza Hotel.<ref name="NYCL p. 6" /><ref name="Gathje p. 11" /><ref name="Harris p. 15">{{harvnb|Harris|1981|ps=.|p=15}}</ref>
 
==== Construction ====
[[File:Plaza Hotel NYC.jpg|thumb|The rebuilt Plaza Hotel during the early 20th century]]
Henry J. Hardenbergh was hired as architect in 1905, initially being commissioned to expand the existing hotel by five stories.<ref name="AA (1907) p. 134" /><ref name="rer19050513">{{cite journal|date=May 13, 1905|title=Plans for Plaza Hotel Annex|url=https://rerecord.library.columbia.edu/document.php?vol=ldpd_7031148_035&page=ldpd_7031148_035_00001134&no=2|journal=The Real Estate Record: Real Estateestate Recordrecord and Buildersbuilders' Guideguide|volume=75|pages=1057|via=[[Columbia University|columbia.edu]]|number=1939}}</ref> Hardenbergh had already gained some renown for designing upscale hotels,<ref name="Gathje p. 13">{{harvnb|Gathje|2000|ps=.|p=13}}</ref> such as the [[Waldorf–Astoria (1893–1929)|Waldorf Astoria Hotel]] twenty-five blocks south in 1893 and 1897.<ref name="NYCL p. 6" /><ref>{{cite book|last=Morrison|first=William Alan|url=https://books.google.com/books?id=MAUaAwAAQBAJ|title=Waldorf Astoria|publisher=Arcadia Publishing|year=2014|isbn=978-1-4671-2128-6|series=Images of America|pages=11, 26}}</ref> However, Beinecke, Black, and Gates discovered that the foundation of the existing hotel could not support the additional stories, so they decided to rebuild it completely.<ref name="rer19050617" /><ref name="AA (1907) p. 134" /><ref name="Gathje p. 11" /> The George A. Fuller Company was contracted to construct the new hotel,<ref name="rer19050617" /> and the Plaza Operating Company was created in mid-1905 as a subsidiary of the U.S. Realty Company.<ref>{{cite book|author=New York Stock Exchange|url=https://books.google.com/books?id=2TYlAQAAMAAJ|title=Listing Statements of the New York Stock Exchange|publisher=F. E. Fitch, Incorporated|year=1929|page=|access-date=November 27, 2020|issue=v. 64}}</ref> Hardenbergh designed the new hotel building while the owners waited for the existing lease to expire.<ref name="NPS p. 7">{{harvnb|National Park Service|1978|ps=.|p=7}}</ref>
 
The first Plaza Hotel was closed on June 11, 1905,<ref>{{cite news|date=June 10, 1905|title=Old Plaza Hotel to Make Way for New Structure|page=9|work=Buffalo Times|url=https://newspapers.com/clip/64050137/|access-date=November 27, 2020|via=newspapers.com {{open access}}}}</ref><ref name="tribune19050613">{{cite news|date=June 13, 1905|title=Won't Leave Plaza|page=7|work=New-York Tribune|url=https://www.newspapers.com/clip/64065310/|access-date=November 27, 2020|via=newspapers.com {{open access}}}}</ref> and demolition commenced immediately upon the expiration of the lease there.<ref name="NPS p. 7" /><ref name="Harris p. 17" /> The existing hotel's furnishings were auctioned immediately.<ref name="rer19050617" /><ref name="tribune19050613" /> The site was cleared within two months of the start of demolition.<ref name="NPS p. 3" /><ref name="NPS p. 7" /> Hardenbergh filed plans for the hotel with the [[New York City Department of Buildings]] that September.<ref>{{cite news|date=September 21, 1905|title=The Vendome Changes Hands|page=12|work=New-York Tribune|url=https://newspapers.com/clip/64049935/|access-date=November 27, 2020|via=newspapers.com {{open access}}}}</ref> By the next month, contractors were clearing the old hotel's foundation.<ref>{{cite news|date=June 5, 1887|title=Framework Still Sound|page=2|work=The New York Times|url=https://newspapers.com/clip/64048330/|access-date=November 27, 2020|issn=0362-4331|via=newspapers.com {{open access}}}}</ref> The new hotel was to use {{Convert|10000|ST|LT t|abbr=}} of steel, and a group of 100 workers and seven derricks erected two stories of steelwork every six days.<ref>{{cite journalbook|url=https://books.google.com/books?id=oidPAAAAYAAJ|title=A Few Facts Regarding the Plaza Hotel|date=May 1, 1907|journal=Carpentry and Building|publisher=David Williams Company|volume=29|pages=159–160159-160}}</ref> The Fuller Company decided to hire both [[Trade union|union]] and non-union ironworkers for the hotel's construction, a decision that angered the union workers.<ref group="lower-alpha">{{Harvnb|Satow|2019|loc=chapter 1}}, states that union workers were hired for high-skill jobs, but required higher wages. Non-union workers were hired for low-skill jobs and could be paid lower wages.</ref> Patrolmen were hired to protect the non-union workers,<ref name="Satow ch. 1"/> and one patrolmen was killed during a dispute with union workers.<ref>{{Cite news|last=|first=|date=July 12, 1906|title=Murder in Mid-air by Union Workers; Thirty Iron Erectors Attack Three Watchmen|language=en-US|work=The New York Times|url=https://www.nytimes.com/1906/07/12/archives/murder-in-midair-by-union-workers-thirty-iron-erectors-attack-three.html|url-status=live|access-date=November 27, 2020|issn=0362-4331}}</ref><ref>{{cite news|date=July 27, 1906|title=Butler Killed by Fall|page=1|work=New-York Tribune|url=https://www.newspapers.com/clip/64112353/|access-date=November 27, 2020|via=newspapers.com {{open access}}}}</ref> By October 1906, the facade of the new hotel was under construction.<ref name="Harris p. 17" />
 
Hardenbergh and Sterry directed several firms to furnish the interior spaces.<ref name="AA (1907) p. 134" /><ref name="NYCL p. 10" /> Sterry recalled that all of the interior features were custom-designed for the hotel,<ref name="NYCL p. 10" /><ref name="Harris p. 17">{{harvnb|ps=.|Harris|1981|p=17}}</ref> such as 1,650 crystal chandeliers and the largest-ever order of gold-rimmed cutlery.<ref name="Gura p. 92" /> Much of the furniture was manufactured by the Pooley Company of Philadelphia; where the Pooley Company could not manufacture the furnishings, the Plaza's developers chartered ships to import material from Europe.<ref name="NPS p. 7" /><ref name="Harris pp. 17-18">{{harvnb|Harris|1981|ps=.|pp=17–18}}</ref> Sterry was himself dispatched to Europe to purchase these materials.<ref name="Harris p. 17" /> The developers anticipated that the hotel would cost $8.5 million to construct, including the furnishings.<ref name="NYCL p. 5">{{harvnb|Landmarks Preservation Commission|2005|ps=.|p=5}}</ref><ref>{{Cite news|date=September 12, 1907|title=New Plaza Hotel Cost $12,500,000; $4,000,000 More Than Original Estimate, but the Fund Was Easily Raised|language=en-US|work=The New York Times|url=https://www.nytimes.com/1907/09/12/archives/new-plaza-hotel-cost-12500000-4000000-more-than-original-estimate.html|access-date=July 9, 2020|issn=0362-4331}}</ref> However, additional expenditures pushed the final construction cost to $12.5&nbsp;million.{{efn-lg|The original budget is equivalent to ${{Inflation|US-GDP|8.5|1907|r=2}} million, and the final cost is equivalent to ${{Inflation|US-GDP|12.5|1907|r=2}} million in {{Inflation year|US-GDP}}.{{inflation/fn|index=US-GDP|group=lower-alpha}}}}<ref name="NPS p. 7" /><ref name="NYCL p. 5" /> To pay for the construction costs, the developers received a $5 million loan in mid-1906,<ref>{{Cite news|last=|first=|date=June 29, 1906|title=In the Real Estate Field; Loan of $5,000,000 on the New Plaza Hotel -- West Side Apartments Sold -- Bulk of Trading Confined to Small Properties|language=en-US|work=The New York Times|url=https://www.nytimes.com/1906/06/29/archives/in-the-real-estate-field-loan-of-5000000-on-the-new-plaza-hotel.html|url-status=live|access-date=November 25, 2020|issn=0362-4331}}</ref><ref>{{cite news|date=June 29, 1906|title=A $5,000,000 Building Loan|page=14|work=New-York Tribune|url=https://newspapers.com/clip/64050024/|access-date=November 27, 2020|via=newspapers.com {{open access}}}}</ref> followed by another $4.5 million loan in 1907.<ref>{{cite news|date=November 8, 1907|title=A $4,500,000 Mortgage|page=14|work=New-York Tribune|url=https://newspapers.com/clip/64049632/|access-date=November 27, 2020|via=newspapers.com {{open access}}}}</ref>
[[File:Day Trip to New York City (2788481970).jpg|thumb|The main entrance was moved to Grand Army Plaza (pictured) as a result of the 1921 expansion by Warren and Wetmore.]]
 
From the start, the Plaza Operating Company was already preparing for the possibility of expansion, and came to acquire the lots between 5 and 19 West 58th Street in the first two decades of the 20th century.<ref name="NYCL p. 12">{{harvnb|Landmarks Preservation Commission|2005|ps=.|p=12}}</ref> This land acquisition commenced before the second hotel had even opened.<ref name="NYCL p. 12" /><ref name="Frohne p. 358">{{harvnb|Frohne|1907|ps=.|p=358}}</ref> By 1915, the Plaza Operating Company had acquired four lots at West 58th Street and one on Central Park South.<ref>{{Cite news|last=|first=|date=October 15, 1915|title=The Real Estate Field.; Allerton Realty Company Buys East Thirty-ninth Street Plot for Apartment House Site|language=en-US|work=The New York Times|url=https://www.nytimes.com/1915/10/15/archives/the-real-estate-field-allerton-realty-company-buys-east-thirtyninth.html|url-status=live|access-date=November 26, 2020|issn=0362-4331}}</ref> The Plaza Operating Company received an exemption from the [[1916 Zoning Resolution]], which set height restrictions for new buildings on the 58th Street side of the lots.<ref name="Satow ch. 5" /> The company filed plans for a 19-story annex along 58th Street in August 1919, to be designed by Warren and Wetmore.<ref>{{cite journal|date=August 9, 1919|title=Alterations|url=https://rerecord.library.columbia.edu/document.php?vol=ldpd_7031148_064&page=ldpd_7031148_064_00000126&no=1|journal=The Real Estate Record: Real Estateestate Recordrecord and Buildersbuilders' Guideguide|volume=104|pages=120|via=[[Columbia University|columbia.edu]]|number=6}}</ref><ref>{{cite news|date=August 5, 1919|title=$2,500,000 To Be Spent Enlarging Plaza Hotel|page=17|work=New-York Tribune|url=https://newspapers.com/clip/64114670/|access-date=November 27, 2020|via=newspapers.com {{open access}}}}</ref> The final lots, at 15 and 17 West 58th Street, were acquired in 1920 after the plans had been filed.<ref name="NYCL p. 12" /><ref>{{Cite news|last=|first=|date=May 28, 1920|title=Plaza Hotel Buys.; Finally Secures Dugro Property on Fifty-eighth Street|language=en-US|work=The New York Times|url=https://www.nytimes.com/1920/05/28/archives/plaza-hotel-buys-finally-secures-dugro-property-on-fiftyeighth.html|url-status=live|access-date=November 27, 2020|issn=0362-4331}}</ref> The George A. Fuller Company was again hired as the builder.<ref name="Architecture and Building 1922" /> To fund the construction of the annex, the Plaza Operating Company took out mortgage loans worth $2.275 million.<ref>{{Cite news|last=|first=|date=July 14, 1921|title=$2,275,000 in Loans.: $2,000,000 Additional Loan Placed on Plaza Hotel Property.|language=en-US|work=The New York Times|url=https://www.nytimes.com/1921/07/14/archives/2275000-in-loans-2000000-additional-loan-placed-on-plaza-hotel.html|url-status=live|access-date=November 27, 2020|issn=0362-4331}}</ref>
 
The Champagne Porch was only frequented by the extremely wealthy, and after the start of Prohibition, Sterry decided to remove the room altogether in 1921.<ref name="Harris p. 34" /><ref name="bt19210708" /> An enlarged entrance was placed at the site of the Champagne Porch.<ref name="Architecture and Building 1922" /><ref name="NYCL pp. 9-10" /><ref name="Harris p. 30">{{harvnb|Harris|1981|ps=.|p=30}}</ref> The work also included building a new restaurant called the Terrace Room, as well as a ballroom and 350 additional suites.<ref name="Architecture and Building 1922" /><ref name="Harris p. 34" /><ref name="bt19210708" /> Warren and Wetmore designed the expanded interior with more subtle contrasts in the decor, compared to Hardenbergh's design.<ref name="Architecture and Building 1922" /><ref name="NYCL p. 12" /> The annex opened October 14, 1921, with an event in the ballroom,<ref>{{Cite news|last=|first=|date=October 15, 1921|title=Society Aids a Benefit.; Appears in 'The Garden of Youth' in New Ballroom of the Plaza|language=en-US|work=The New York Times|url=https://www.nytimes.com/1921/10/15/archives/society-aids-a-benefit-appears-in-the-garden-of-youth-in-new.html|url-status=live|access-date=November 27, 2020|issn=0362-4331}}</ref> but was not officially completed until April 1922.<ref name="NYCL p. 12" /> With the advent of Prohibition, the bar room was also closed, and the gender segregation rule was relaxed.<ref name="Harris p. 40" /><ref name="NYCL p. 54">{{harvnb|Landmarks Preservation Commission|2005|ps=.|p=54}}</ref><ref name="Gathje p. 30">{{harvnb|Gathje|2000|ps=.|p=30}}</ref> The space occupied by the present-day Oak Bar became the offices of brokerage [[EF Hutton]].<ref name="NYCL p. 14" /> The Plaza had become the city's most valuable hotel by 1923,<ref name="Satow ch. 5" /><ref>{{Cite news|last=|first=|date=October 2, 1923|title=City Realty Value Jumps One Billion to $11,275,526,200; Total and $840,629,525 in Personalty Three-fourths of the State's Wealth|language=en-US|work=The New York Times|url=https://www.nytimes.com/1923/10/02/archives/city-realty-value-jumps-one-billion-to-11275526200-total-and.html|url-status=live|access-date=November 28, 2020|issn=0362-4331}}</ref> and the U.S. Realty Company overall was highly profitable, paying increasingly high dividends during the 1920s.<ref name="Satow ch. 5" />
For unknown reasons, Warren and Wetmore's ballroom was reconstructed from June to September 1929, based on neoclassical designs by Schultze & Weaver.<ref name="NYCL p. 36" /> Shortly afterward, U.S. Realty's stock price collapsed in the [[Wall Street Crash of 1929|Wall Street Crash]] of October 1929, from which commenced the [[Great Depression in the United States]].<ref name="Satow ch. 5" /> Plaza Hotel co-owner Harry Black killed himself the following year in 1930,<ref>{{Cite news|date=July 20, 1930|title=H.s. Black Ends Life by Bullet in Home|language=en-US|work=The New York Times|url=https://www.nytimes.com/1930/07/20/archives/hs-black-ends-life-by-bullet-in-home-no-motive-revealed-financier.html|url-status=live|access-date=November 28, 2020|issn=0362-4331}}</ref> and his partner Bernhard Beinecke died two years later.<ref>{{Cite news|last=|first=|date=December 21, 1932|title=Bernhard Beinecke Dies; a Hotel Man|language=en-US|work=The New York Times|url=https://www.nytimes.com/1932/12/21/archives/bernhad-beinecke-dies-a-hotel-man-chairman-of-board-of-plaza-86.html|url-status=live|access-date=November 28, 2020|issn=0362-4331}}</ref> The rebuilt Plaza's first manager, Fred Sterry, died in 1933.<ref>{{Cite news|last=|first=|date=August 15, 1933|title=To Manage Hotel Plaza.; Henry A. Host Will Fill Position of the Late Frederic Sterry|language=en-US|work=The New York Times|url=https://www.nytimes.com/1933/08/15/archives/to-manage-hotel-plaza-henry-a-host-will-fill-position-of-the-late.html|url-status=live|access-date=November 26, 2020|issn=0362-4331}}</ref> The early 1930s were also financially difficult for the Plaza Hotel, as only half of the suites were occupied by 1932. To reduce operating costs for the hotel's restaurants, the grill room in the basement was converted into a closet, while the Rose Room became an automobile showroom. The furnishings of the Plaza Hotel fell into disrepair and, during some months, management was unable to pay staff.<ref name="Satow ch. 6" />
 
By the mid-1930s, the old tea room was officially known as the Palm Court, having been referred to as the "Palm Room" for the previous decade.<ref name="Harris p. 38" /><ref name="NYCL p. 15">{{harvnb|Landmarks Preservation Commission|2005|ps=.|p=15}}</ref><ref name="Brown p. 79">{{harvnb|Brown|1967|ps=.|p=79}}</ref> The back room was reopened as the Oak Room restaurant in 1934,<ref name="NYCL p. 15" /><ref name="Gathje p. 32">{{harvnb|Gathje|2000|ps=.|p=32}}</ref> although it was still referred to as the "back room" by its frequent visitors, which included bankers and brokers.<ref name="Harris p. 51" /> The same year, display windows and a doorway on the southern wall were added to the Fifth Avenue lobby, and the southeastern corner of the ground floor was refurbished into the Persian Room.<ref name="Brown p. 76" /><ref>{{cite news|date=January 31, 1934|title=Hotel Plaza Plans New Cocktail Room: Corner at 5th Av. And 58th St. Will Be Fitted Up at Cost of $50,000|page=34|work=The New York Times|url=https://search.proquest.com/docview/101079852|url-access=subscription|access-date=November 28, 2020|issn=0362-4331|id={{ProQuest|101079852}}|via=ProQuest}}</ref>
 
=== Mid- and late 20th century ===
==== Hilton operation ====
[[File:New York City (4374514714).jpg|thumb|Seen from the east on 58th Street]]
U.S. Realty continued to lose money through the 1930s, and was selling off its properties by 1942, including the Plaza Hotel.<ref name="Satow ch. 6">{{harvnb|Satow|2019|ps=.|loc=chapter 6}}</ref> [[Atlas Corporation]], collaborating with hotelier [[Conrad Hilton]], bought the Plaza Hotel for $7.4&nbsp;million in October 1943.{{efn-lg|Equivalent to ${{Inflation|US-GDP|7.4|1943|r=2}} million in {{Inflation year|US-GDP}}{{inflation/fn|index=US-GDP|group=lower-alpha}}}}<ref>{{Cite news|last=|first=|date=October 8, 1943|title=Atlas in Control of Plaza Hotel; Corporation Buys All Stock of U.S. Realty in Fifth Avenue Property|language=en-US|work=The New York Times|url=https://www.nytimes.com/1943/10/08/archives/atlas-in-control-of-plaza-hotel-corporation-buys-all-stock-of-us.html|url-status=live|access-date=November 27, 2020|issn=0362-4331}}</ref><ref>{{cite news|date=October 8, 1943|title=Atlas Interests Buy Plaza Hotel In Security Deal: Large 5th Avenue Property Sold by General Realty to Floyd B. Odlum Group|page=29|work=New York Herald Tribune|url=https://search.proquest.com/docview/1268022005|url-access=subscription|access-date=November 28, 2020|id={{ProQuest|1268022005}}|via=ProQuest}}</ref> At the time, the Plaza was 61 percent occupied, and many public areas were closed due to supply shortages caused by [[World War II]].<ref>{{cite book|last=Dabney|first=Thomas Ewing|url=https://books.google.com/books?id=FOFEAAAAIAAJ|title=The Man who Bought the Waldorf: The Life of Conrad N. Hilton|publisher=Duell, Sloan and Pearce|year=1950|page=173}}</ref><ref name="Satow ch. 7">{{harvnb|Satow|2019|ps=.|loc=chapter 7}}</ref> Hilton subsequently spent $6&nbsp;million refurbishing the hotel.<ref name="Mashayekhi 2018" /> During mid-1944, the lobby on Fifth Avenue was renovated and its mezzanine was enclosed. The Palm Court skylight, having fallen into disrepair, was removed for the installation of air conditioning equipment.<ref name="NYCL p. 14" /><ref name="Gathje p. 26">{{harvnb|Gathje|2000|ps=.|p=26}}</ref> A mezzanine was also built above the Palm Court,<ref name="NPS p. 5" /><ref name="nyt19820927" /><ref name="Gura p. 95">{{harvnb|Gura|2015|ps=.|p=95}}</ref> and the room itself became the Court Lounge.<ref name="NYCL p. 58" /> The brokerage office at the ground level's northwestern corner was turned into the Oak Bar, which opened in January 1945, and EF Hutton was relegated to the Fifth Avenue lobby's mezzanine.<ref name="NYCL p. 14" /><ref name="Gura p. 95" /><ref name="Brown p. 188">{{harvnb|Brown|1967|ps=.|p=188}}</ref> The contractor for the renovations may have been Frederick P. Platt & Brother, which was the Plaza Hotel's primary contractor in the 1940s.<ref name="NYCL p. 14" />
 
The Plaza Hotel Corporation, the hotel's operator, was merged into the [[Hilton Worldwide|Hilton Hotels Corporation]] in 1946.<ref>{{Cite news|last=|first=|date=June 7, 1946|title=$60,000,000 Hilton Hotel Concern Formed as Four Companies Merge; Plaza, Stevens, Palmer House, Dayton-Biltmore Combined|language=en-US|work=The New York Times|url=https://www.nytimes.com/1946/06/07/archives/60000000-hilton-hotel-concern-formed-as-four-companies-merge-plaza.html|url-status=live|access-date=November 27, 2020|issn=0362-4331}}</ref> The following year, the Plaza Rendez-Vous opened within the old grill room space.<ref name="Harris p. 69">{{harvnb|Harris|1981|ps=.|p=69}}</ref> By the early 1950s, women were allowed inside the Oak Room and Bar during the evenings and summers, although it still acted as a men-only space before 3 p.m., while the stock exchanges operated.<ref name="NYCL p. 15" /><ref name="Harris pp. 55-56">{{harvnb|Harris|1981|ps=.|pp=55–56}}</ref><ref name="Gathje p. 142">{{harvnb|Gathje|2000|ps=.|p=142}}</ref>
 
Hilton sold the hotel in 1953 to Boston industrialist A.M. "Sonny" Sonnabend for $15&nbsp;million,{{efn-lg|Equivalent to ${{Inflation|US-GDP|15|1953|r=2}} million in {{Inflation year|US-GDP}}{{inflation/fn|index=US-GDP|group=lower-alpha}}}} and immediately leased it back for 2.5 years.<ref>{{Cite news|last=|first=|date=October 15, 1953|title=$15,000,000 Paid for Plaza Hotel; Hilton Interests Take Lease Back From the Sonnabend Group of Boston, Mass|language=en-US|work=The New York Times|url=https://www.nytimes.com/1953/10/15/archives/15000000-paid-for-plaza-hotel-hilton-interests-take-lease-back-from.html|url-status=live|access-date=November 28, 2020|issn=0362-4331}}</ref><ref name="Gathje p. 163">{{harvnb|Gathje|2000|ps=.|p=163}}</ref> Sonnabend became president of national restaurant chain [[Childs Company]] in 1955, and Childs purchased the Plaza that November, for $6.2&nbsp;million in stock.<ref>{{Cite news|date=November 18, 1955|title=Childs Approves Plaza Purchase; Holders Also Agree to Lease 3 Other Hotels, Change Corporate Name|language=en-US|work=The New York Times|url=https://www.nytimes.com/1955/11/18/archives/childs-approves-plaza-purchase-holders-also-agree-to-lease-3-other.html|access-date=July 9, 2020|issn=0362-4331}}</ref> The same year, the ground-floor Plaza Restaurant was renamed the Edwardian Room.<ref name="Gathje p. 30" /><ref name="NYCL p. 15" /><ref name="Brown p. 192">{{harvnb|Brown|1967|ps=.|p=192}}</ref> Air conditioning was also installed in each guest room around this time.<ref>{{Cite news|last=Grutzner|first=Charles|date=July 8, 1956|title=Year of the Air Conditioning; New York Hotels Putting Millions Into Cooling and Renovations|language=en-US|work=The New York Times|url=https://www.nytimes.com/1956/07/08/archives/year-of-the-air-conditioning-new-york-hotels-putting-millions-into.html|url-status=live|access-date=November 28, 2020|issn=0362-4331}}</ref> Childs became the Hotel Corporation of America (HCA) in 1956,<ref>{{Cite news|last=|first=|date=February 23, 1956|title=Childs Co. Changes Name|language=en-US|work=The New York Times|url=https://www.nytimes.com/1956/02/23/archives/childs-co-changes-name.html|url-status=live|access-date=November 28, 2020|issn=0362-4331}}</ref> and Hilton's lease was renewed indefinitely that year.<ref>{{Cite news|last=|first=|date=March 1, 1956|title=Hotel Corporation of America Buys 2 Hotels for $14,930,000|page=15|work=Daily Boston Globe|url=https://search.proquest.com/docview/842256840|url-status=live|url-access=subscription|access-date=November 27, 2020|id={{ProQuest|842256840}}|via=ProQuest}}</ref> HCA sold the Plaza to [[Lawrence Wien]] in November 1958 for $21 million{{efn-lg|Equivalent to ${{Inflation|index=US-GDP|value=21|start_year=1958}} million in {{Inflation/year|index=US-GDP}}{{inflation/fn|index=US-GDP|group=lower-alpha}}}} and immediately leased it back for 25 years.<ref>{{Cite news|last=|first=|date=November 21, 1958|title=Plaza Hotel Sold for 21 Millions; Wien Pays Record Sum for 5th Ave. Building -- Chain to Lease It Back|language=en-US|work=The New York Times|url=https://www.nytimes.com/1958/11/21/archives/plaza-hotel-sold-for-21-millions-wien-pays-record-sum-for-5th-ave.html|url-status=live|access-date=November 27, 2020|issn=0362-4331}}</ref> The transaction included curtailing Hilton's lease to April 1960,<ref>{{Cite news|last=|first=|date=January 2, 1959|title=Plaza Hotel Title Passes|language=en-US|work=The New York Times|url=https://www.nytimes.com/1959/01/02/archives/plaza-hotel-title-passes.html|url-status=live|access-date=November 28, 2020|issn=0362-4331}}</ref> upon which HCA assumed the operating lease.<ref>{{Cite news|last=|first=|date=April 1, 1960|title=Plaza Hotel in Shift; Hotel Corporation to Take Over on Lease Today|language=en-US|work=The New York Times|url=https://www.nytimes.com/1960/04/01/archives/plaza-hotel-in-shift-hotel-corporation-to-take-over-on-lease-today.html|url-status=live|access-date=November 27, 2020|issn=0362-4331}}</ref>
 
==== Sonnabend operation ====
The Plaza Hotel experienced financial difficulties during the early 1960s, but under Sonnabend's management, the Plaza's financial outlook improved by 1964.<ref name="nyt19791230">{{Cite news|last=Cuff|first=Daniel F.|date=December 30, 1979|title=The Plaza Hotel: A Moneymaking Fairyland|language=en-US|work=The New York Times|url=https://www.nytimes.com/1979/12/30/archives/the-plaza-hotel-a-moneymaking-fairyland-but-its-an-easy-target-for.html|access-date=November 28, 2020|issn=0362-4331}}</ref><ref name="Satow ch. 9">{{harvnb|Satow|2019|ps=.|loc=chapter 9}}</ref> The facade of the Plaza Hotel was cleaned in late 1960, the first time that the exterior had been fully cleaned since its construction.<ref>{{Cite news|last=|first=|date=November 25, 1960|title=Sidewalk Foremen Watch Face-Lifting At the Plaza Hotel|language=en-US|work=The New York Times|url=https://www.nytimes.com/1960/11/25/archives/sidewalk-foremen-watch-facelifting-at-the-plaza-hotel.html|url-status=live|access-date=November 28, 2020|issn=0362-4331}}</ref> This was followed in 1962 by extensive exterior and interior renovations, which resulted in the redecoration of many of the suites and public rooms.<ref>{{Cite news|last=Ennis|first=Thomas W.|date=September 9, 1962|title=Hotels Spruce Up as Rivalry Rises|language=en-US|work=The New York Times|url=https://www.nytimes.com/1962/09/09/archives/hotels-spruce-up-as-rivalry-rises-they-answer-newcomers-with-vast.html|url-status=live|access-date=November 28, 2020|issn=0362-4331}}</ref><ref name="wsj19650823">{{cite news|last=|first=|date=August 23, 1965|title=The Grand Hotel: Aging but Still Elegant, Gotham's Storied Plaza Prospers on Nostalgia Edwardian Opulence, Service Enchant Jet-Age Patrons|page=1|work=Wall Street Journal|url=https://search.proquest.com/docview/132999458|url-status=live|url-access=subscription|access-date=November 28, 2020|issn=0099-9660|id={{ProQuest|132999458}}|via=ProQuest}}</ref> Four of the hotel's hydraulic elevators were replaced with electric elevators in 1964,<ref>{{Cite news|last=|first=|date=April 6, 1964|title=Plaza to Install New Elevators|language=en-US|work=The New York Times|url=https://www.nytimes.com/1964/04/06/plaza-to-install-new-elevators.html|url-status=live|access-date=November 28, 2020|issn=0362-4331}}</ref> including the three elevators at the 58th Street lobby.<ref name="nyt19760415">{{Cite news|last=McElheny|first=Victor K.|date=April 15, 1976|title=Plaza's Old Elevators Wheezing to a Halt|language=en-US|work=The New York Times|url=https://www.nytimes.com/1976/04/15/archives/plazas-old-elevators-wheezing-to-a-halt.html|access-date=November 28, 2020|issn=0362-4331}}</ref> A second phase of renovations was announced the same year, which entailed enlarging some public rooms and replacing the ground-floor barber shop with a [[Trader Vic's]] bar.<ref name="Satow ch. 9" /><ref name="nyt19641117">{{Cite news|last=|first=|date=November 17, 1964|title=Plaza Pressing Expansion Drive; Hotel Will Get Trader Vic's From Savoy‐Plaza and Enlarge Banquet Room|language=en-US|work=The New York Times|url=https://www.nytimes.com/1964/11/17/archives/plaza-pressing-expansion-drive-hotel-will-get-trader-vics-from.html|url-status=live|access-date=November 28, 2020|issn=0362-4331}}</ref> The ballroom's foyer and stair hall were combined during this renovation.<ref name="NYCL p. 40" /><ref name="nyt19641117" /> The improvements were completed by 1965, having cost $9 million.<ref name="wsj19650823" />
 
Upon Sonny Sonnabend's death in 1964, his son Roger took over the hotel.<ref name="Satow ch. 10" /> Further changes to the hotel's ownership occurred the next year, when [[Sol Goldman]] and [[Alexander DiLorenzo]]'s firm Wellington Associates bought an [[Option (finance)|option]] to obtain a half-interest in the underlying land from Hilton.<ref>{{Cite news|last=|first=|date=August 31, 1965|title=Wellington to Get Land Under Plaza|language=en-US|work=The New York Times|url=https://www.nytimes.com/1965/08/31/archives/wellington-to-get-land-under-plaza.html|url-status=live|access-date=November 28, 2020|issn=0362-4331}}</ref> Gender restrictions at the Oak Room were removed in 1969, after the [[National Organization for Women]] held a sit-in to protest the men-only policy during middays.<ref name="NYCL p. 15" /><ref name="Gathje p. 142" /><ref name="Harris p. 56">{{harvnb|Harris|1981|ps=.|p=56}}</ref> HCA, by then renamed Sonesta International Hotels,<ref>{{Cite news|last=|first=|date=October 23, 1969|title=Hotel America To Change Name Nov. 10 to Sonesta|page=64|work=Hartford Courant|url=https://search.proquest.com/docview/550282274|url-status=live|url-access=subscription|access-date=November 27, 2020|id={{ProQuest|550282274}}|via=ProQuest}}</ref> announced another round of renovations in 1971. This included the redecoration of the Grand Ballroom.<ref name="Gura p. 95" /><ref>{{Cite news|last=Edwards|first=Russell|date=August 27, 1971|title=Plaza Plans 'Original‘Original Elegance'Elegance’ in 'World‘World of Tomorrow'Tomorrow’|language=en-US|work=The New York Times|url=https://www.nytimes.com/1971/08/27/archives/plaza-plans-original-elegance-in-world-of-tomorrow.html|url-status=live|access-date=November 28, 2020|issn=0362-4331}}</ref> as well as the replacement of the Edwardian Room with a restaurant called the Green Tulip.<ref name="NYCL p. 14" /><ref name="Harris p. 40" /><ref name="nyt19711105">{{Cite news|last=Huxtable|first=Ada Louise|date=November 5, 1971|title=An Appraisal: An Edwardian Splendor Or Green Tulip Modern?|language=en-US|work=The New York Times|url=https://www.nytimes.com/1971/11/05/archives/an-edwardian-splendor-or-green-tulip-modern-an-edwardian-splendor.html|url-status=live|access-date=November 28, 2020|issn=0362-4331}}</ref> Sally Dryden's pink, lime, and brown design for the Green Tulip<ref name="NYCL pp. 26-27" /> received largely negative public reception.<ref name="wp19750615" /><ref name="Satow ch. 10" /><ref name="NYCL pp. 26-27">{{harvnb|Landmarks Preservation Commission|2005|ps=.|pp=26–27}}</ref> The ballroom also received a renovation at this time.<ref name="NYCL p. 36"/>
 
The renovations coincided with a decline in Sonesta's and the Plaza's finances, with the hotel recording a net negative income by 1971.<ref name="Satow ch. 10" /> Sonesta repurchased the Plaza Hotel from Wien in 1972.<ref>{{Cite news|last=Reckert|first=Clare M.|date=July 6, 1972|title=Sonesta International Takes Title to Plaza Hotel|language=en-US|work=The New York Times|url=https://www.nytimes.com/1972/07/06/archives/sonesta-international-takes-title-to-plaza-hotel-sonesta-corp-buys.html|url-status=live|access-date=November 29, 2020|issn=0362-4331}}</ref> Shortly afterward, Sonesta looked to sell its interest in the Plaza Hotel to [[Harry Helmsley]], and Wellington attempted to take over Sonesta by buying its shares.<ref>{{Cite news|last=Hammer|first=Alexander R.|date=May 10, 1973|title=Sonesta Shares Target in Deal|language=en-US|work=The New York Times|url=https://www.nytimes.com/1973/05/10/archives/sonesta-shares-target-in-deal-wellington-seeking-to-buy-up-to-a.html|url-status=live|access-date=November 29, 2020|issn=0362-4331}}</ref><ref>{{cite news|last=Gallese|first=Liz Roman|date=May 10, 1973|title=Sonesta Sought by Wellington Associates, But Such a Take-Over May Prove Difficult|page=16|work=Wall Street Journal|url=https://search.proquest.com/docview/133819150|url-access=subscription|access-date=November 30, 2020|issn=0099-9660|id={{ProQuest|133819150}}|via=ProQuest}}</ref> Both the sale and the attempted Sonesta takeover were unsuccessful, and Wellington made an offer for Sonesta's share of the hotel in April 1974,<ref>{{cite news|last=Meyer|first=Priscilla S.|date=April 2, 1974|title=Sonesta's Plaza Hotel Is Sought by Partners In New York Concern: Wellington Associates, Which Tried Sonesta Take-Over in '73, Is Discussing Purchase|page=16|work=Wall Street Journal|url=https://search.proquest.com/docview/133919074|url-access=subscription|access-date=November 30, 2020|issn=0099-9660|id={{ProQuest|133919074}}|via=ProQuest}}</ref> which Sonesta refused.<ref>{{cite news|date=May 3, 1974|title=Sonesta Won't Sell The Plaza, New York, To Wellington Group|page=16|work=Wall Street Journal|url=https://search.proquest.com/docview/133971802r|url-access=subscription|access-date=November 30, 2020|issn=0099-9660|via=ProQuest}}</ref>
 
=== Late 20th century ===
==== Westin, Trump, and Al-Waleed ownership ====
In November 1974, [[Westin Hotels|Western International Hotels]] announced its intention to buy the Plaza Hotel from Sonesta for $25&nbsp;million.{{efn-lg|Equivalent to ${{Inflation|US-GDP|25|1974|r=2}} million in {{Inflation year|US-GDP}}{{inflation/fn|index=US-GDP|group=lower-alpha}}}}<ref>{{Cite news|date=November 13, 1974|title=Western Hotels Co. Buying the Plaza For $25‐Million|language=en-US|work=The New York Times|url=https://www.nytimes.com/1974/11/13/archives/western-hotels-co-buying-the-plaza-for-25million.html|access-date=July 9, 2020|issn=0362-4331}}</ref> The same year, the Edwardian Room was largely restored to designs by Charles Winslow, being rebranded as the Plaza Suite.<ref name="NYCL p. 27">{{harvnb|Landmarks Preservation Commission|2005|ps=.|p=27}}</ref><ref name="Harris p. 43">{{harvnb|Harris|1981|ps=.|p=43}}</ref><ref>{{Cite news|last=Goldberger|first=Paul|date=February 12, 1974|title=Plaza Turning Back Clock to '1907‐New' Look|language=en-US|work=The New York Times|url=https://www.nytimes.com/1974/02/12/archives/plaza-turning-back-clock-to-1907new-look-a-softer-glow.html|url-status=live|access-date=November 28, 2020|issn=0362-4331}}</ref> Following Western International's acquisition of the Plaza, it renovated the interior spaces, cleaned the exterior, and restored many of the original designs,<ref name="nyt19820927" /><ref name="wp19750615" /> at a total cost of $200 million.<ref name="newsday19880328">{{cite news|last=Moss|first=Michael|date=March 28, 1988|title=5-Star Facelift; Trump to make over city's Plaza Hotel|page=02|work=Newsday|url=https://search.proquest.com/docview/277975654|url-access=subscription|access-date=November 28, 2020|id={{ProQuest|277975654}}|via=ProQuest}}</ref> The four hydraulic elevators serving the Central Park South lobby, among the last of their type in the city, were also replaced with electric elevators in 1976.<ref name="nyt19760415" /> Westin also bought the Shinn murals that year for $1 million; they had not been part of the original sale.<ref>{{Cite news|last=|first=|date=May 18, 1976|title=Plaza Buys Murals By Everett Shinn From Old Owners|language=en-US|work=The New York Times|url=https://www.nytimes.com/1976/05/18/archives/plaza-buys-murals-by-everett-shinn-from-old-owners.html|url-status=live|access-date=November 29, 2020|issn=0362-4331}}</ref> The next year, a 204-seat theater called Cinema 3 opened in the basement.<ref>{{Cite news|last=Goldberger|first=Paul|date=March 24, 1977|title=Design Notebook: Inglorious Urban Entries See a Movie In Style Order Carved Out of Openness|language=en-US|work=The New York Times|url=https://www.nytimes.com/1977/03/24/archives/design-notebook-inglorious-urban-entries.html|url-status=live|access-date=November 29, 2020|issn=0362-4331}}</ref> The Persian Room was closed in 1978 and a clothing boutique opened in its place.<ref name="Satow ch. 10" /> By the late 1970s, the Plaza Hotel was again making a net profit.<ref name="Satow ch. 10" />
 
==== Westin, Trump, and Al-Waleed ownership ====
Western International changed its name to Westin Hotels in 1981 and the hotel was renamed soon after, becoming ''The Westin Plaza''.<ref>{{Cite news|date=August 3, 1985|title=In Hotels View, It's Better to Give|language=en-US|work=The New York Times|url=https://www.nytimes.com/1985/08/03/business/in-hotels-view-it-s-better-to-give.html|access-date=July 9, 2020|issn=0362-4331}}</ref> By 1987, Westin's parent company [[Allegis Corporation]] announced its intent to sell the Plaza, generating interest from at least 150 investors.<ref>{{Cite news|last=Meyers|first=William H.|date=September 25, 1988|title=Stalking the Plaza|language=en-US|work=The New York Times|url=https://www.nytimes.com/1988/09/25/magazine/stalking-the-plaza.html|url-status=live|access-date=November 28, 2020|issn=0362-4331}}</ref> The Plaza, along with the rest of the Westin chain,<ref>{{cite news|date=October 28, 1987|title=Allegis to Sell Its Westin Unit For $1.35 Billion --- Accord With Bass Group, Aoki Moves Firm Closer To Restructuring Goal|page=1|work=Wall Street Journal|url=https://search.proquest.com/docview/398140080/|url-access=subscription|access-date=November 28, 2020|issn=0099-9660|via=ProQuest}}</ref> were transferred to the [[Aoki Corporation]] and [[Robert M. Bass]] in January 1988.<ref name="wsj19880318">{{cite news|date=March 18, 1988|title=Trump Has Agreed To Purchase Plaza Hotel, Sources Say: Trump Agrees to Buy Famous Plaza Hotel From Bass and Aoki|page=2|work=Wall Street Journal|url=https://search.proquest.com/docview/135320103|url-access=subscription|access-date=November 28, 2020|issn=0099-9660|id={{ProQuest|135320103}}|via=ProQuest}}</ref> Shortly afterward, Philip Pilevsky and [[Arthur G. Cohen]] expressed their intent to buy the Plaza and turn it into a hotel-cooperative.<ref>{{Cite news|last=Foderaro|first=Lisa W.|date=February 27, 1988|title=Plaza Hotel May Be Sold for Co-ops|language=en-US|work=The New York Times|url=https://www.nytimes.com/1988/02/27/nyregion/plaza-hotel-may-be-sold-for-co-ops.html|url-status=live|access-date=November 28, 2020|issn=0362-4331}}</ref> However, the Plaza was instead sold to real estate developer [[Donald Trump]] that March following a [[handshake agreement]];<ref name="wsj19880318" /><ref>{{cite news|date=March 19, 1988|title=Trump May Buy Plaza Hotel; Sues to Block Resorts Bid|page=13|work=Newsday|url=https://search.proquest.com/docview/277985843|url-access=subscription|access-date=November 28, 2020|id={{ProQuest|277985843}}|via=ProQuest}}</ref> the sale was valued at either $390 million<ref>{{Cite news|last=Cole|first=Robert J.|date=March 27, 1988|title=Plaza Hotel Is Sold To Donald Trump For $390 Million|language=en-US|work=The New York Times|url=https://www.nytimes.com/1988/03/27/nyregion/plaza-hotel-is-sold-to-donald-trump-for-390-million.html|access-date=July 9, 2020|issn=0362-4331}}</ref> or $410 million.<ref>{{cite news|date=March 28, 1988|title=Trump to Pay $410 Million for Plaza; Developer Vows to Restore Hotel's Luster|page=4|work=Wall Street Journal|url=https://search.proquest.com/docview/135376084|url-access=subscription|access-date=November 28, 2020|issn=0099-9660|id={{ProQuest|135376084}}|via=ProQuest}}</ref> After gaining title in July of that year, Trump appointed his wife [[Ivana Trump|Ivana]] as the hotel's president<ref>{{cite news|title=Ivana Trump: Hard work, discipline and self-reliance|newspaper=Tampa Bay Times|first=Marion M.|last=White|date=September 26, 1988|url=http://infoweb.newsbank.com/resources/openurl?ctx_ver=z39.88-2004&rft_dat=document_id%3Anews%252F0EB528F413ED16AC&rft_id=info%3Asid%2Finfoweb.newsbank.com&rft_val_format=info%3Aofi%2Ffmt%3Akev%3Amtx%3Actx&svc_dat=AWNB&req_dat=1028A39C75C2B899|via=NewsBank}}</ref><ref>{{cite news|date=July 20, 1988|title=Playing The Palm Court As a Trump Card Says Ivana Trump, 'We appreciate the old beauty|page=04|work=Newsday|url=https://search.proquest.com/docview/277975714|url-access=subscription|access-date=November 28, 2020|id={{ProQuest|277975714}}|via=ProQuest}}</ref> and announced a major renovation program.<ref name="newsday19880328" />
In November 1974, [[Westin Hotels|Western International Hotels]] announced its intention to buy the Plaza Hotel from Sonesta for $25&nbsp;million.{{efn-lg|Equivalent to ${{Inflation|US-GDP|25|1974|r=2}} million in {{Inflation year|US-GDP}}{{inflation/fn|index=US-GDP|group=lower-alpha}}}}<ref>{{Cite news|date=November 13, 1974|title=Western Hotels Co. Buying the Plaza For $25‐Million|language=en-US|work=The New York Times|url=https://www.nytimes.com/1974/11/13/archives/western-hotels-co-buying-the-plaza-for-25million.html|access-date=July 9, 2020|issn=0362-4331}}</ref> The same year, the Edwardian Room was largely restored to designs by Charles Winslow, being rebranded as the Plaza Suite.<ref name="NYCL p. 27">{{harvnb|Landmarks Preservation Commission|2005|ps=.|p=27}}</ref><ref name="Harris p. 43">{{harvnb|Harris|1981|ps=.|p=43}}</ref><ref>{{Cite news|last=Goldberger|first=Paul|date=February 12, 1974|title=Plaza Turning Back Clock to '1907‐New'‘1907‐New’ Look|language=en-US|work=The New York Times|url=https://www.nytimes.com/1974/02/12/archives/plaza-turning-back-clock-to-1907new-look-a-softer-glow.html|url-status=live|access-date=November 28, 2020|issn=0362-4331}}</ref> Following Western International's acquisition of the Plaza, it renovated the interior spaces, cleaned the exterior, and restored many of the original designs,<ref name="nyt19820927" /><ref name="wp19750615" /> at a total cost of $200 million.<ref name="newsday19880328">{{cite news|last=Moss|first=Michael|date=March 28, 1988|title=5-Star Facelift; Trump to make over city's Plaza Hotel|page=02|work=Newsday|url=https://search.proquest.com/docview/277975654|url-access=subscription|access-date=November 28, 2020|id={{ProQuest|277975654}}|via=ProQuest}}</ref> The four hydraulic elevators serving the Central Park South lobby, among the last of their type in the city, were also replaced with electric elevators in 1976.<ref name="nyt19760415" /> Westin also bought the Shinn murals that year for $1 million; they had not been part of the original sale.<ref>{{Cite news|last=|first=|date=May 18, 1976|title=Plaza Buys Murals By Everett Shinn From Old Owners|language=en-US|work=The New York Times|url=https://www.nytimes.com/1976/05/18/archives/plaza-buys-murals-by-everett-shinn-from-old-owners.html|url-status=live|access-date=November 29, 2020|issn=0362-4331}}</ref> The next year, a 204-seat theater called Cinema 3 opened in the basement.<ref>{{Cite news|last=Goldberger|first=Paul|date=March 24, 1977|title=Design Notebook: Inglorious Urban Entries See a Movie In Style Order Carved Out of Openness|language=en-US|work=The New York Times|url=https://www.nytimes.com/1977/03/24/archives/design-notebook-inglorious-urban-entries.html|url-status=live|access-date=November 29, 2020|issn=0362-4331}}</ref> The Persian Room was closed in 1978 and a clothing boutique opened in its place.<ref name="Satow ch. 10" /> ByWestin thehad lateplanned 1970s,to restore the PlazaPalm HotelCourt's wasskylight, againbut makingthis adid netnot profithappen.<ref name="Satow ch. 10:2" />
 
BecauseBy Trumpthe hadlate borrowed extensively to purchase1970s, the Plaza Hotel, hewas soonagain accumulatedmaking a largenet debt,profit.<ref asname="Satow thech. hotel's10" [[operating/> income]]Western wasInternational severalchanged millionsits ofname dollarsto belowWestin Hotels in 1981 and the [[Break-evenhotel (economics)|breakeven]]was point.<refrenamed name="Mashayekhisoon 2018"after, />becoming ''The Westin Plaza''.<ref>{{Cite news|last=Norris|first=Floyd|date=JuneAugust 53, 19901985|title=AIn HazeHotels ofView, DebtIt's CloudsBetter The Plaza Hotel'sto GleamGive|language=en-US|work=The New York Times|url=https://www.nytimes.com/19901985/0608/0503/business/ain-hazehotels-ofview-debtit-cloudss-thebetter-plazato-hotel-s-gleamgive.html|access-date=July 9, 2020|issn=0362-4331}}</ref> By 1990However, TrumpWestin wasstarted makingto planslose tomoney pay offin the hotel'slate debt1980s. byBy selling1987, offWestin's theparent vast majority of its units ascompany [[condominiumAllegis Corporation]]s. Trumpannounced estimatedits thatintent theto conversion would net $750 million, almost twicesell the purchase price.<ref>{{cite news|date=April 10Plaza, 1991|title=Trumpgenerating planninginterest tofrom convertat poshleast Plaza150 Hotel into condos|page=16|work=Star-Gazette|location=Elmira, NY|url=https://wwwinvestors.newspapers.com/clip/64215188/|access-date=November 29, 2020|via=newspapers.com {{open access}}}}</ref><ref>{{Cite news|last=HyltonMeyers|first=RichardWilliam DH.|date=AprilSeptember 925, 19911988|title=TrumpStalking Aims to Turn Most ofthe Plaza Hotel Into Condominiums|language=en-US|work=The New York Times|url=https://www.nytimes.com/1991/041988/09/business25/trumpmagazine/stalking-aims-to-turn-most-ofthe-plaza-hotel-into-condominiums.html|url-status=live|access-date=November 2928, 2020|issn=0362-4331}}</ref><ref>{{cite news|title=TrumpThe expectedPlaza, toalong sellwith roomsthe inrest Plazaof Hotel|newspaper=Losthe AngelesWestin Dailychain,<ref>{{cite News|first=Richard D.|last=Hyltonnews|date=AprilOctober 928, 19911987|urltitle=http://infoweb.newsbank.com/resources/openurl?ctx_ver=z39.88-2004&rft_dat=document_id%3Anews%252F0EF612924BA52D15&rft_id=info%3Asid%2Finfoweb.newsbank.com&rft_val_format=info%3Aofi%2Ffmt%3Akev%3Amtx%3Actx&svc_dat=AWNB&req_dat=1028A39C75C2B899|via=NewsBank}}</ref>Allegis Theto Plaza'sSell creditors,Its aWestin groupUnit ofFor seventy$1.35 banksBillion led--- byAccord [[Citibank]],<ref>{{CiteWith news|last=Hansell|first=Saul|date=FebruaryBass 10Group, 1994|title=BanksAoki ConsiderMoves OfferFirm toCloser BuyTo Trump'sRestructuring Plaza HotelGoal|languagepage=en-US1|work=TheWall NewStreet York TimesJournal|url=https://wwwsearch.nytimesproquest.com/1994docview/02398140080/10/nyregion/banks-consider-offer-to-buy-trump-s-plaza-hotel.html|url-statusaccess=livesubscription|access-date=November 2928, 2020|issn=03620099-43319660|via=ProQuest}}</ref> insteadwere agreedtransferred to take a 49% stake in the hotel[[Aoki inCorporation]] exchangeand for[[Robert forgivenessM. of $250&nbsp;millionBass]] in debtJanuary and an interest rate reduction1988.<ref name="wsj19880318">{{cite news|title=Trump yields 49% of Plaza Hotel in N.Y.|newspaper=The Star-Ledger|location=Newark, NJ|date=March 1918, 19921988|urltitle=http://infoweb.newsbank.com/resources/openurl?ctx_ver=z39.88-2004&rft_dat=document_id%3Anews%252F12246C4B02ABA3B8&rft_id=info%3Asid%2Finfoweb.newsbank.com&rft_val_format=info%3Aofi%2Ffmt%3Akev%3Amtx%3Actx&svc_dat=AWNB&req_dat=1028A39C75C2B899|via=NewsBank}}</ref>Trump TheHas agreementAgreed wasTo submittedPurchase asPlaza aHotel, [[prepackagedSources bankruptcy]]Say: inTrump NovemberAgrees 1992.<ref>{{Citeto news|last=Reuters|date=DecemberBuy 12, 1992|title=Company News; Trump'sFamous Plaza Hotel BankruptcyFrom PlanBass and ApprovedAoki|languagepage=en-US2|work=TheWall NewStreet York TimesJournal|url=https://wwwsearch.nytimesproquest.com/1992docview/12/12/business/company135320103|url-news-trump-s-plaza-hotel-bankruptcy-plan-approved.htmlaccess=subscription|access-date=JulyNovember 928, 2020|issn=03620099-43319660|via=ProQuest}}</ref> ByShortly 1994afterward, Trump was looking to sell the Plaza beforePhilip CitibankPilevsky and other creditors could find a buyer for the hotel, thereby wiping out his investment. The creditors had already identified Singaporean developer [[KwekArthur LengG. BengCohen]] asexpressed atheir potentialintent buyer.<refto name="Satow 2019">{{cite web|last=Satow|first=Julie|date=May 23, 2019|title=That Time Trump Soldbuy the Plaza Hoteland atturn anit $83into Milliona Loss|url=https://www.bloomberg.com/news/features/2019-05-23/that-time-trump-sold-the-plaza-hotel-at-an-83-million-loss|access-date=November 25, 2020|website=Bloomberg.com}}</ref> Kwek's company, Singaporean chain [[City Developments Limited]] (CDL), offered to take over the creditors' ownership stakecooperative.<ref>{{Cite news|last=BarronFoderaro|first=JamesLisa W.|date=JanuaryFebruary 1127, 19951988|title=CompanyPlaza News;Hotel SingaporeMay ChainBe SeeksSold Plazafor Hotel StakeCo-ops|language=en-US|work=The New York Times|url=https://www.nytimes.com/19951988/0102/1127/businessnyregion/companyplaza-newshotel-singaporemay-chainbe-seekssold-plazafor-hotelco-stakeops.html|url-status=live|access-date=November 2928, 2020|issn=0362-4331}}</ref>
 
==== Trump ownership ====
By March 1995, CDL and Saudi prince [[Al-Waleed bin Talal]] had raised $325 million for a controlling stake in the Plaza.<ref>{{cite news|last1=Sutton|first1=Larry|last2=Michelini|first2=Alex|date=March 16, 1995|title=Looking to Trump two on Plaza deal|page=1272|work=New York Daily News|url=https://www.newspapers.com/clip/64215917/|access-date=November 26, 2020|via=newspapers.com {{open access}}}}</ref> Trump sold the controlling stake to CDL and Al-Waleed the next month.<ref>{{cite news|date=April 12, 1995|title=Trump selling controlling interest in Plaza Hotel|page=44|work=Journal News|url=https://www.newspapers.com/clip/64216225/|access-date=November 29, 2020|via=newspapers.com {{open access}}}}</ref><ref>{{Cite news|last1=Gilpin|first1=David|last2=Stout|first2=Kenneth N.|date=April 12, 1995|title=Trump Is Selling Plaza Hotel To Saudi and Asian Investors|language=en-US|work=The New York Times|url=https://www.nytimes.com/1995/04/12/business/trump-is-selling-plaza-hotel-to-saudi-and-asian-investors.html|access-date=July 9, 2020|issn=0362-4331}}</ref> As part of the transaction, the debt was cut by $25 million, Kwek and Al-Waleed each bought a 42 percent stake in the hotel, and Citibank received the other 16 percent stake.<ref name="Satow 2019" /> Two years later, Hong Kong developer [[Great Eagle Holdings]] agreed to buy half of Al-Waleed's stake in the Plaza Hotel.<ref>{{Cite news|date=September 30, 1997|title=Metro Business; New Plaza Hotel Owner|language=en-US|work=The New York Times|url=https://www.nytimes.com/1997/09/30/nyregion/metro-business-new-plaza-hotel-owner.html|url-status=live|access-date=November 29, 2020|issn=0362-4331}}</ref> DiLorenzo International renovated the ballroom in the mid-1990s,<ref name="NYCL p. 36" /> and Adam Tihany refurbished the Edwardian Room prior to 2001.<ref name="NYCL p. 27" />
The Plaza was sold to real estate developer [[Donald Trump]] in March 1988 following a [[handshake agreement]];<ref name="wsj19880318" /><ref>{{cite news|date=March 19, 1988|title=Trump May Buy Plaza Hotel; Sues to Block Resorts Bid|page=13|work=Newsday|url=https://search.proquest.com/docview/277985843|url-access=subscription|access-date=November 28, 2020|via=ProQuest}}</ref> the sale was valued at either $390 million<ref>{{Cite news|last=Cole|first=Robert J.|date=March 27, 1988|title=Plaza Hotel Is Sold To Donald Trump For $390 Million|language=en-US|work=The New York Times|url=https://www.nytimes.com/1988/03/27/nyregion/plaza-hotel-is-sold-to-donald-trump-for-390-million.html|access-date=July 9, 2020|issn=0362-4331}}</ref> or $410 million.<ref>{{cite news|date=March 28, 1988|title=Trump to Pay $410 Million for Plaza; Developer Vows to Restore Hotel's Luster|page=4|work=Wall Street Journal|url=https://search.proquest.com/docview/135376084|url-access=subscription|access-date=November 28, 2020|issn=0099-9660|via=ProQuest}}</ref> After gaining title in July of that year, Trump appointed his wife [[Ivana Trump|Ivana]] as the hotel's president<ref>{{cite news|title=Ivana Trump: Hard work, discipline and self-reliance|newspaper=Tampa Bay Times|first=Marion M.|last=White|date=September 26, 1988|url=http://infoweb.newsbank.com/resources/openurl?ctx_ver=z39.88-2004&rft_dat=document_id%3Anews%252F0EB528F413ED16AC&rft_id=info%3Asid%2Finfoweb.newsbank.com&rft_val_format=info%3Aofi%2Ffmt%3Akev%3Amtx%3Actx&svc_dat=AWNB&req_dat=1028A39C75C2B899|via=NewsBank}}</ref><ref name=":2">{{cite news|date=July 20, 1988|title=Playing The Palm Court As a Trump Card Says Ivana Trump, `We appreciate the old beauty|page=04|work=Newsday|url=https://search.proquest.com/docview/277975714|url-access=subscription|access-date=November 28, 2020|via=ProQuest}}</ref> and announced a major renovation program.<ref name="newsday19880328" /> The work involved gilding many surfaces, replacing carpets, and reupholstering furniture.<ref>{{cite news|last=Revson|first=James A.|date=1989-09-21|title=Donald and Ivana Glitz the Plaza|page=04|work=Newsday|url=https://search.proquest.com/docview/1943384125|url-status=live|url-access=subscription|access-date=2020-11-30|via=ProQuest}}</ref> The hotel made a modest profit for about two years after Trump's purchase, largely from increased occupancy, suite rates, and banquet bookings.<ref>{{Cite journal|last=Agovino|first=Theresa|date=January 29, 1990|title=Profit in Sight for a Rejuvenated Plaza|url=https://search.proquest.com/docview/219134786|journal=Crain's New York Business|volume=6|issue=5|pages=1|url-access=subscription|via=ProQuest}}</ref>
 
Trump had borrowed extensively to purchase the Plaza Hotel, but its [[operating income]] was several million dollars below the [[Break-even (economics)|breakeven]] point.<ref name="Mashayekhi 2018" /><ref>{{Cite news|last=Norris|first=Floyd|date=June 5, 1990|title=A Haze of Debt Clouds The Plaza Hotel's Gleam|language=en-US|work=The New York Times|url=https://www.nytimes.com/1990/06/05/business/a-haze-of-debt-clouds-the-plaza-hotel-s-gleam.html|access-date=July 9, 2020|issn=0362-4331}}</ref> As a result, the Plaza Hotel's debt ultimately grew to $600 million.<ref name=":3">{{Cite news|last=Reuters|first=|date=March 19, 1992|title=Trump Relinquishing Half of Plaza Hotel Sale of Suites as Condos Fails to Raise Cash|page=2D|work=Sun Sentinel|url=https://search.proquest.com/docview/388941901|url-status=live|url-access=subscription|access-date=2020-11-30|via=ProQuest}}</ref> By 1991, Trump was making plans to pay off the hotel's debt by selling off the vast majority of its units as [[condominium]]s. Trump estimated that the conversion would net $750 million, almost twice the purchase price.<ref>{{cite news|date=April 10, 1991|title=Trump planning to convert posh Plaza Hotel into condos|page=16|work=Star-Gazette|location=Elmira, NY|url=https://www.newspapers.com/clip/64215188/|access-date=November 29, 2020|via=newspapers.com {{open access}}}}</ref><ref>{{Cite news|last=Hylton|first=Richard D.|date=April 9, 1991|title=Trump Aims to Turn Most of Plaza Hotel Into Condominiums|language=en-US|work=The New York Times|url=https://www.nytimes.com/1991/04/09/business/trump-aims-to-turn-most-of-plaza-hotel-into-condominiums.html|url-status=live|access-date=November 29, 2020|issn=0362-4331}}</ref><ref>{{cite news|title=Trump expected to sell rooms in Plaza Hotel|newspaper=Los Angeles Daily News|first=Richard D.|last=Hylton|date=April 9, 1991|url=http://infoweb.newsbank.com/resources/openurl?ctx_ver=z39.88-2004&rft_dat=document_id%3Anews%252F0EF612924BA52D15&rft_id=info%3Asid%2Finfoweb.newsbank.com&rft_val_format=info%3Aofi%2Ffmt%3Akev%3Amtx%3Actx&svc_dat=AWNB&req_dat=1028A39C75C2B899|via=NewsBank}}</ref> Trump also considered converting the offices within the mansard roof to penthouse condos.<ref name="Satow ch. 11" /><ref>{{Cite news|last=Lueck|first=Thomas J.|date=1990-06-03|title=Reaching for the Sky to Add a Room|language=en-US|work=The New York Times|url=https://www.nytimes.com/1990/06/03/realestate/reaching-for-the-sky-to-add-a-room.html|url-status=live|access-date=2020-11-30|issn=0362-4331}}</ref> The conversion plan failed because of a drop-off in prices in the city's real estate market.<ref name="Satow ch. 11" /><ref name=":3" /> As a last resort, in March 1992, Trump approached the Plaza's creditors, a group of seventy banks led by [[Citibank]], who agreed to take a 49% stake in the hotel in exchange for forgiveness of $250&nbsp;million in debt and an interest rate reduction.<ref name=":3" /><ref>{{cite news|title=Trump yields 49% of Plaza Hotel in N.Y.|newspaper=The Star-Ledger|location=Newark, NJ|date=March 19, 1992|url=http://infoweb.newsbank.com/resources/openurl?ctx_ver=z39.88-2004&rft_dat=document_id%3Anews%252F12246C4B02ABA3B8&rft_id=info%3Asid%2Finfoweb.newsbank.com&rft_val_format=info%3Aofi%2Ffmt%3Akev%3Amtx%3Actx&svc_dat=AWNB&req_dat=1028A39C75C2B899|via=NewsBank}}</ref><ref>{{cite news|last=Lowenstein|first=Roger|date=1992-03-19|title=Trump Agrees to Give Lenders 49% of Plaza Hotel|page=A5|work=Wall Street Journal|url=https://search.proquest.com/docview/135320103|url-status=live|url-access=subscription|access-date=2020-11-30|issn=0099-9660|via=ProQuest}}</ref> The agreement was submitted as a [[prepackaged bankruptcy]] in November 1992<ref>{{cite news|date=1992-11-04|title=Prepackaged Bankruptcy Is Filed for Plaza Hotel|page=A6|work=Wall Street Journal|url=https://search.proquest.com/docview/398326488|url-access=subscription|access-date=2020-11-30|issn=0099-9660|via=ProQuest}}</ref><ref>{{Cite news|last=|first=|date=1992-11-04|title=Company News; Trump Revises Plaza Loan|language=en-US|work=The New York Times|url=https://www.nytimes.com/1992/11/04/business/company-news-trump-revises-plaza-loan.html|url-status=live|access-date=2020-11-30|issn=0362-4331}}</ref> and approved the next month.<ref>{{Cite news|last=Reuters|date=December 12, 1992|title=Company News; Trump's Plaza Hotel Bankruptcy Plan Approved|language=en-US|work=The New York Times|url=https://www.nytimes.com/1992/12/12/business/company-news-trump-s-plaza-hotel-bankruptcy-plan-approved.html|access-date=July 9, 2020|issn=0362-4331}}</ref>
 
==== Sale to Kwek and Al-Waleed ====
By 1994, Trump was looking to sell the Plaza before Citibank and other creditors could find a buyer, thereby wiping out his investment; one of his executives identified Hong Kong-based [[Sun Hung Kai Properties]] as a potential buyer. The deal fell through after the family of Sun Hung Kai executive [[Walter Kwok]] got trapped behind a jammed door while touring the Plaza Hotel.<ref name="Satow ch. 12">{{harvnb|Satow|2019|ps=.|loc=chapter 12}}</ref><!-- Trump, attempting to maintain public appearances, threatened to sue the ''New York Post'' that December for reporting on another potential buyer.<ref name="Satow ch. 12" /><ref>{{cite news|last=Henry|first=David|date=1994-12-22|title=Trump Says He'll Sue Post for $500M|page=A53|work=Newsday|url=https://search.proquest.com/docview/278840199|url-access=subscription|access-date=2020-12-01|via=ProQuest}}</ref>--> Meanwhile, the creditors had also identified Singaporean developer [[Kwek Leng Beng]] as a likely buyer.<ref name="Satow 2019">{{cite web|last=Satow|first=Julie|date=May 23, 2019|title=That Time Trump Sold the Plaza Hotel at an $83 Million Loss|url=https://www.bloomberg.com/news/features/2019-05-23/that-time-trump-sold-the-plaza-hotel-at-an-83-million-loss|access-date=November 25, 2020|website=Bloomberg.com}}</ref> Kwek's company, Singaporean chain [[City Developments Limited]] (CDL), offered to take over the creditors' ownership stake.<ref>{{Cite news|last=Barron|first=James|date=January 11, 1995|title=Company News; Singapore Chain Seeks Plaza Hotel Stake|language=en-US|work=The New York Times|url=https://www.nytimes.com/1995/01/11/business/company-news-singapore-chain-seeks-plaza-hotel-stake.html|url-status=live|access-date=November 29, 2020|issn=0362-4331}}</ref> Saudi prince [[Al-Waleed bin Talal]] was also interested in buying the Plaza, and by March 1995, Al-Waleed and CDL had raised $325 million for a controlling stake.<ref>{{cite news|last=Sutton|first=Larry|last2=Michelini|first2=Alex|date=March 16, 1995|title=Looking to Trump two on Plaza deal|page=1272|work=New York Daily News|url=https://www.newspapers.com/clip/64215917/|access-date=November 26, 2020|via=newspapers.com {{open access}}}}</ref> Trump unsuccessfully petitioned Kwek to partner with him instead of Al-Waleed.<ref name="wsj19970219">{{cite news|last=Pacelle|first=Mitchell|date=1997-02-19|title=Asian Investors Buy Up Hotels in U.S., Europe, But Move Cautiously|page=A1|work=Wall Street Journal|url=https://search.proquest.com/docview/1619948359|url-access=subscription|access-date=2020-11-30|issn=0099-9660|via=ProQuest}}</ref>
 
By March 1995, CDL and Saudi prince [[Al-Waleed bin Talal]] had raised $325 million for a controlling stake in the Plaza.<ref>{{cite news|last1=Sutton|first1=Larry|last2=Michelini|first2=Alex|date=March 16, 1995|title=Looking to Trump two on Plaza deal|page=1272|work=New York Daily News|url=https://www.newspapers.com/clip/64215917/|access-date=November 26, 2020|via=newspapers.com {{open access}}}}</ref> Trump sold the controlling stake to CDLKwek and Al-Waleed thein nextApril month1995.<ref>{{cite news|date=April 12, 1995|title=Trump selling controlling interest in Plaza Hotel|page=44|work=Journal News|url=https://www.newspapers.com/clip/64216225/|access-date=November 29, 2020|via=newspapers.com {{open access}}}}</ref><ref>{{Cite news|last1last=Gilpin|first1first=David|last2=Stout|first2=Kenneth N.|date=April 12, 1995|title=Trump Is Selling Plaza Hotel To Saudi and Asian Investors|language=en-US|work=The New York Times|url=https://www.nytimes.com/1995/04/12/business/trump-is-selling-plaza-hotel-to-saudi-and-asian-investors.html|access-date=July 9, 2020|issn=0362-4331}}</ref> As part of the transaction, the hotel's debt was cut by $25 million, and Kwek and Al-Waleed each bought a 42 percent stake in the hotel, and. Citibank received the other 16 percent stake, a move intended to prevent Trump from intervening in the sale.<ref name="Satow ch. 12" /><ref name="Satow 2019" /><ref Twoname="wsj19970219" years/> laterThe partnership also agreed that, if the mansard penthouses were ever created, some of the profits would be shared with Trump.<ref name="Satow ch. 12" /> In 1997, Hong Kong developer [[Great Eagle Holdings]] agreed to buy half of Al-Waleed's stake in the Plaza Hotel.<ref>{{Cite news|date=September 30, 1997|title=Metro Business; New Plaza Hotel Owner|language=en-US|work=The New York Times|url=https://www.nytimes.com/1997/09/30/nyregion/metro-business-new-plaza-hotel-owner.html|url-status=live|access-date=November 29, 2020|issn=0362-4331}}</ref> DiLorenzo International renovated the ballroom in the mid-1990s,<ref name="NYCL p. 36" /> and Adam Tihany refurbished the Edwardian Room prior to 2001.<ref name="NYCL p. 27" /> The Plaza was highly profitable in the late 1990s, with operating income of almost $46 million at the end of that decade.<ref name="Satow ch. 12" />
 
=== 21st century ===
[[File:Plaza Hotel Birthday Celebration.JPG|thumb|The Plaza Hotel turned 100 years old in October 2007, celebrating with ceremonies and fireworks]]
 
InThe 2004[[September 11 attacks]] in 2001 resulted in a downturn in the New York City tourism industry. Correspondingly, the Plaza's Hoteloperating wasprofits decreased greatly, leaving Kwek and Al-Waleed unable to refurbish or even maintain the Plaza.<ref name="Satow ch. 12" /> In 2004, they sold the Plaza Hotel for $675 million to developer [[El Ad Properties]].<ref>{{Cite news|last=Barron|first=James|date=August 14, 2004|title=Eloise Gets a New Landlord: Plaza Sells for $675 Million|language=en-US|work=The New York Times|url=https://www.nytimes.com/2004/08/14/nyregion/eloise-gets-a-new-landlord-plaza-sells-for-675-million.html|access-date=July 9, 2020|issn=0362-4331}}</ref><ref>{{cite news|date=2004-08-16|title=Elad Properties: Plaza Hotel Will Change Hands In a $675 Million Transaction|page=A6|work=Wall Street Journal|url=https://search.proquest.com/docview/398907334|url-access=subscription|access-date=2020-11-30|issn=0099-9660|via=ProQuest}}</ref> El Ad wished to add residential and commercial units, and temporarily closed the Plaza Hotel on April 30, 2005, for extensive renovations costing $450 million.<ref>{{Cite news|date=March 5, 2005|title=The Plaza Says It'll Be History After April 30|language=en-US|work=The New York Times|url=https://www.nytimes.com/2005/03/05/nyregion/the-plaza-says-itll-be-history-after-april-30.html|access-date=July 9, 2020|issn=0362-4331}}</ref><ref>{{cite news|last=Danto|first=Ginger|title=Suite Deal for the Plaza|work=Brandweek|date=April 25, 2005|page=30}}</ref> The Plaza's furnishings were auctioned on-site and at a 2006 [[Christie's]] auction.<ref name="Gura p. 95" /> [[Fairmont Hotels and Resorts]] took over operation of the hotel.<ref>{{Cite news|title=Fairmont to manage New York City's Plaza Hotel|language=en-US|work=CBC|url=https://www.cbc.ca/news/business/fairmont-to-manage-new-york-city-s-plaza-hotel-1.565230|access-date=November 23, 2020}}</ref> During the renovation, most of the short-term hotel rooms were converted into residential units,<ref name="Mashayekhi 2018" /> and the Palm Court's skylight was restored.<ref name=":0" /> The hotel reopened on March 1, 2008, with a variety of condominiums, condo-hotel units, and short-term hotel units.<ref>{{cite news|last=Baltic|first=Scott|title=New York's Plaza Hotel Reopens After $400M Renovation|url=https://www.cpexecutive.com/post/new-yorks-plaza-hotel-reopens-after-400m-renovation/|work=Commercial Property News|date=March 3, 2008|access-date=July 9, 2020}}</ref><ref>{{cite web|last=Associated Press|date=March 3, 2008|title=NYC's famed Plaza Hotel reopens|url=https://www.latimes.com/travel/la-trw-plazahotelopens-story.html|access-date=November 30, 2020|website=Los Angeles Times}}</ref> That November, the Plaza Hotel unveiled its retail collection, an underground mall featuring luxury brands.<ref>{{Cite news|last=Dworin|first=Caroline H.|date=2008-12-06|title=For a Luxury Mall, an Ill-Timed Debut|language=en-US|work=The New York Times|url=https://www.nytimes.com/2008/12/07/nyregion/thecity/07mall.html|url-status=live|access-date=2020-11-30|issn=0362-4331}}</ref> Two years later, the Plaza Food Hall opened in the underground mall, anchored by the Todd English Food Hall in collaboration with chef [[Todd English]].<ref>{{Cite news|last=Collins|first=Glenn|date=November 22, 2011|title=Plaza Food Hall Is Growing|language=en-US|work=The New York Times|url=https://www.nytimes.com/2011/11/23/dining/food-hall-at-plaza-hotel-is-expanding.html|access-date=July 9, 2020|issn=0362-4331}}</ref><ref>{{Cite web|date=2011-05-24|title=Q & A with Miki Naftali|url=https://therealdeal.com/2011/05/24/departing-elad-group-ceo-miki-naftali-brushes-off-rumored-plaza-hotel-tension-hits-the-ground-running-with-new-venture-the-naftali-group/|access-date=2020-11-30|website=The Real Deal New York|language=en-US}}</ref> The Oak Room restaurant closed in July 2011, two years after the renovation was completed, because of lease disagreements.<ref>{{Cite news|last=Buckley|first=Cara|date=2011-05-06|title=Oak Room Is Set to Close After Rent Fight With Plaza Hotel|language=en-US|work=The New York Times|url=https://www.nytimes.com/2011/05/06/nyregion/oak-room-at-plaza-hotel-plaza-is-scheduled-to-close.html|url-status=live|access-date=2020-11-30|issn=0362-4331}}</ref><ref name="Kludt 2011">{{cite web|last=Kludt|first=Amanda|date=May 6, 2011|title=The Plaza Hotel's Oak Room is Set to Close in July|url=https://ny.eater.com/2011/5/6/6682351/the-plaza-hotels-oak-room-is-set-to-close-in-july|access-date=November 30, 2020|website=Eater NY}}</ref>
 
InThe Julyhotel 2012,reopened [[Saharaon IndiaMarch Pariwar]]1, agreed2008, to buywith a 75%variety controllingof stakecondominiums, forcondo-hotel $570units, millionand fromshort-term Elhotel Ad Propertiesunits.<ref name="Mashayekhi 2018">{{cite webnews|last=MashayekhiBaltic|first=Rey|date=July 18, 2018Scott|title=TheNew York's Plaza Hotel -Reopens TheAfter Long and$400M Winding Ownership HistoryRenovation|url=https://commercialobserverwww.cpexecutive.com/2018post/07/thenew-yorks-plaza-hotel-ownershipreopens-historyafter-400m-renovation/|work=Commercial Property News|date=March 3, 2008|access-date=NovemberJuly 259, 2020|website=Commercial Observer}}</ref> Two years later, Sahara's [[Subrata Roy]] announced he was seeking a buyer for his company's majority stake in the Plaza for $4 billion.<ref name="nyt20140823">{{Citecite newsweb|last=Bagli|first=CharlesAssociated V.Press|date=AugustMarch 223, 20142008|title=LegalNYC's Woes of Owners Help Put thefamed Plaza BackHotel in Play|language=en-US|work=The New York Timesreopens|url=https://www.nytimeslatimes.com/2014travel/08/23/nyregion/legalla-woestrw-ofplazahotelopens-owners-help-put-the-plaza-back-in-playstory.html|access-date=JulyNovember 930, 2020|issnwebsite=0362-4331Los Angeles Times}}</ref> AtThat the timeNovember, Saharathe wasPlaza experiencingHotel legalunveiled issuesits andretail wascollection, sellingan offunderground othermall propertiesfeaturing thatluxury it ownedbrands.<ref name="Mashayekhi 2018" /> After Roy was unable to secure a buyer, he hired a broker in August 2017 to sell the hotel,<ref name="wsj20170822">{{Cite news|last=KarminDworin|first=Craig|date=AugustCaroline 22, 2017|title=Famed Plaza Hotel Is On the Block|language=en-US|work=Wall Street Journal|url=https://wwwH.wsj.com/articles/famed-plaza-hotel-is-on-the-block-1503394221|access-date=November 27, 2020|issn=00992008-12-9660}}</ref><ref>{{Cite news|last=Bagli|first=Charles V.|date=August 23, 201706|title=TheFor Plazaa IsLuxury for SaleMall, butan a PartIll-Owner Has OtherTimed IdeasDebut|language=en-US|work=The New York Times|url=https://www.nytimes.com/20172008/0812/2307/nyregion/plaza-hotel-for-sale-subrata-roythecity/07mall.html|url-status=live|access-date=November 27, 2020-11-30|issn=0362-4331}}</ref> promptingTwo inquiriesyears from about 50 potential buyers.<ref>{{Cite news|last=Karmin|first=Craig|date=September 19later, 2017|title=Dozens of Investors Show Interest inthe Plaza Hotel|language=en-US|work=WallFood Street Journal|url=https://www.wsj.com/articles/several-investors-show-interest-in-plaza-hotel-1505836448|access-date=November 27, 2020|issn=0099-9660}}</ref> The same year, Saudi businessman [[Al-Waleed bin Talal]], whose [[Kingdom Holding Company]] owned a minorHall stakeopened in the hotel, partnered with [[Ben Ashkenazy|Ashkenazy Acquisition Corporation]].<ref>{{Cite web|last=Warerkar|first=Tanay|date=Mayunderground 25mall, 2017|title=Beleagueredanchored Plaza Hotel purchase may soon be finalized|url=https://ny.curbed.com/2017/5/25/15690120/plaza-hotel-saudi-prince-sale|access-date=November 25, 2020|website=Curbed NY|language=en}}</ref> Kingdom and Ashkenazy's partnership included a [[right of first refusal]], which allowedby the companiesTodd toEnglish matchFood anyHall third-partyin offer for the hotel.<ref name="wsj20170822" /> In May 2018, the Sahara Group announced it had finalized a dealcollaboration with businessmenchef [[Shahal M.Todd KhanEnglish]] and [[Kamran Hakim]] to buy a majority share of the hotel for $600 million.<ref>{{Cite news|last=SatowCollins|first=JulieGlenn|date=MayNovember 422, 20182011|title=DealPlaza IsFood ReachedHall toIs Sell the Plaza HotelGrowing|language=en-US|work=The New York Times|url=https://www.nytimes.com/20182011/0511/0323/nyregiondining/food-hall-at-plaza-hotel-saleis-expanding.html|url-status=live|access-date=NovemberJuly 259, 2020|issn=0362-4331}}</ref><ref>{{citeCite web|last=Warerkar|first=Tanay|date=May 3, 20182011-05-24|title=LegendaryQ Plaza& HotelA willwith sellMiki for $600M to Saudi princeNaftali|url=https://ny.curbedtherealdeal.com/20182011/505/3/1731612424/departing-elad-group-ceo-miki-naftali-brushes-off-rumored-plaza-hotel-nyctension-contracthits-salethe-600ground-millionrunning-princewith-alwaleednew-binventure-talalthe-naftali-group/|access-date=November 25, 2020-11-30|website=CurbedThe NYReal Deal New York|language=en-US}}</ref> However,The AshkenazyOak andRoom Kingdomrestaurant exercisedclosed theirin rightJuly of first refusal2011,<ref name="Mashayekhitwo 2018" /> sued Sahara for trying toyears sellafter the hotelrenovation towas a third party,completed.<ref>{{citeCite webnews|last=HallBuckley|first=MiriamCara|date=May 21, 20182011-05-06|title=MinorityOak OwnersRoom OfIs TheSet Plazato HotelClose SueAfter MajorityRent OwnerFight ForWith TryingPlaza ToHotel|language=en-US|work=The SellNew ToYork Third PartyTimes|url=https://www.bisnownytimes.com/new-york2011/news05/hotel06/nyregion/investorsoak-tryingroom-to-buy-theat-plaza-hotel-areplaza-suingis-itsscheduled-majorityto-ownerclose.html|url-88672status=live|access-date=November 25, 2020-11-30|websiteissn=Bisnow0362-4331}}</ref><ref name="Kludt 2011">{{cite web|last=TanKludt|first=GillianAmanda|date=May 186, 20182011|title=New YorkThe Plaza Hotel's BuyersOak Ashkenazy,Room Alwaleedis SueSet Ownerto Close in July|url=https://wwwny.bloombergeater.com/news2011/articles5/2018-05-186/alwaleed-ashkenazy-partnership-sues-over-sale-of6682351/the-plaza-hotel|accesshotels-date=November 25, 2020|website=Bloomberg.com}}</ref> and received an extension to close on their purchase of the Plaza.<ref>{{cite web|last1=Parker|first1=Will|last2=Maurer|first2=Mark|date=June 26, 2018|title=Ashkenazy, Kingdom get extension to close on Plaza deal: sources|url=https://therealdeal.com/2018/06/26/ashkenazyoak-kingdomroom-getis-extensionset-to-close-onin-plaza-deal-sources/july|access-date=November 2530, 2020|website=TheEater Real Deal New YorkNY}}</ref>
 
In July 2012, [[Sahara India Pariwar]] agreed to buy a 75% controlling stake for $570 million from El Ad Properties.<ref name="Mashayekhi 2018">{{cite web|last=Mashayekhi|first=Rey|date=July 18, 2018|title=The Plaza Hotel - The Long and Winding Ownership History|url=https://commercialobserver.com/2018/07/the-plaza-hotel-ownership-history/|access-date=November 25, 2020|website=Commercial Observer}}</ref> Two years later, Sahara's [[Subrata Roy]] announced he was seeking a buyer for his company's majority stake in the Plaza for $4 billion.<ref name="nyt20140823">{{Cite news|last=Bagli|first=Charles V.|date=August 22, 2014|title=Legal Woes of Owners Help Put the Plaza Back in Play|language=en-US|work=The New York Times|url=https://www.nytimes.com/2014/08/23/nyregion/legal-woes-of-owners-help-put-the-plaza-back-in-play.html|access-date=July 9, 2020|issn=0362-4331}}</ref> At the time, Sahara was experiencing legal issues and was selling off other properties that it owned.<ref name="Mashayekhi 2018" /> After Roy was unable to secure a buyer, he hired a broker in August 2017 to sell the hotel,<ref name="wsj20170822">{{Cite news|last=Karmin|first=Craig|date=August 22, 2017|title=Famed Plaza Hotel Is On the Block|language=en-US|work=Wall Street Journal|url=https://www.wsj.com/articles/famed-plaza-hotel-is-on-the-block-1503394221|access-date=November 27, 2020|issn=0099-9660}}</ref><ref>{{Cite news|last=Bagli|first=Charles V.|date=August 23, 2017|title=The Plaza Is for Sale, but a Part-Owner Has Other Ideas|language=en-US|work=The New York Times|url=https://www.nytimes.com/2017/08/23/nyregion/plaza-hotel-for-sale-subrata-roy.html|access-date=November 27, 2020|issn=0362-4331}}</ref> prompting inquiries from about 50 potential buyers.<ref>{{Cite news|last=Karmin|first=Craig|date=September 19, 2017|title=Dozens of Investors Show Interest in Plaza Hotel|language=en-US|work=Wall Street Journal|url=https://www.wsj.com/articles/several-investors-show-interest-in-plaza-hotel-1505836448|access-date=November 27, 2020|issn=0099-9660}}</ref> The same year, Saudi businessman [[Al-Waleed bin Talal]], whose [[Kingdom Holding Company]] owned a minor stake in the hotel, partnered with [[Ben Ashkenazy|Ashkenazy Acquisition Corporation]].<ref>{{Cite web|last=Warerkar|first=Tanay|date=May 25, 2017|title=Beleaguered Plaza Hotel purchase may soon be finalized|url=https://ny.curbed.com/2017/5/25/15690120/plaza-hotel-saudi-prince-sale|access-date=November 25, 2020|website=Curbed NY|language=en}}</ref> Kingdom and Ashkenazy's partnership included a [[right of first refusal]], which allowed the companies to match any third-party offer for the hotel.<ref name="wsj20170822" /> In May 2018, the Sahara Group announced it had finalized a deal with businessmen [[Shahal M. Khan]] and [[Kamran Hakim]] to buy a majority share of the hotel for $600 million.<ref>{{Cite news|last=Satow|first=Julie|date=May 4, 2018|title=Deal Is Reached to Sell the Plaza Hotel|language=en-US|work=The New York Times|url=https://www.nytimes.com/2018/05/03/nyregion/plaza-hotel-sale.html|url-status=live|access-date=November 25, 2020|issn=0362-4331}}</ref><ref>{{cite web|last=Warerkar|first=Tanay|date=May 3, 2018|title=Legendary Plaza Hotel will sell for $600M to Saudi prince|url=https://ny.curbed.com/2018/5/3/17316124/plaza-hotel-nyc-contract-sale-600-million-prince-alwaleed-bin-talal|access-date=November 25, 2020|website=Curbed NY}}</ref> However, Ashkenazy and Kingdom exercised their right of first refusal,<ref name="Mashayekhi 2018" /> sued Sahara for trying to sell the hotel to a third party,<ref>{{cite web|last=Hall|first=Miriam|date=May 21, 2018|title=Minority Owners Of The Plaza Hotel Sue Majority Owner For Trying To Sell To Third Party|url=https://www.bisnow.com/new-york/news/hotel/investors-trying-to-buy-the-plaza-hotel-are-suing-its-majority-owner-88672|access-date=November 25, 2020|website=Bisnow}}</ref><ref>{{cite web|last=Tan|first=Gillian|date=May 18, 2018|title=New York Plaza Hotel Buyers Ashkenazy, Alwaleed Sue Owner|url=https://www.bloomberg.com/news/articles/2018-05-18/alwaleed-ashkenazy-partnership-sues-over-sale-of-plaza-hotel|access-date=November 25, 2020|website=Bloomberg.com}}</ref> and received an extension to close on their purchase of the Plaza.<ref>{{cite web|last=Parker|first=Will|last2=Maurer|first2=Mark|date=June 26, 2018|title=Ashkenazy, Kingdom get extension to close on Plaza deal: sources|url=https://therealdeal.com/2018/06/26/ashkenazy-kingdom-get-extension-to-close-on-plaza-deal-sources/|access-date=November 25, 2020|website=The Real Deal New York}}</ref>
Qatari state-owned hotelier [[Katara Hospitality]] ultimately acquired full ownership of the Plaza Hotel in July 2018.<ref name="Mashayekhi 2018" /><ref>{{Cite web|last=Kim|first=Betsy|date=July 5, 2018|title=Plaza Hotel Sold for $600 Million|url=https://www.globest.com/2018/07/05/plaza-hotel-sold-for-600-million/|url-status=live|archive-url=|archive-date=|access-date=November 25, 2020|website=GlobeSt|language=en}}</ref><ref>{{cite web|last=Tan|first=Gillian|date=July 5, 2018|title=NYC's Historic Plaza Hotel Sold to Qatari State-Owned Company|url=https://www.bloomberg.com/news/articles/2018-07-05/nyc-s-historic-plaza-hotel-is-sold-to-qatari-state-owned-company|access-date=November 25, 2020|website=Bloomberg.com}}</ref> Because of the [[COVID-19 pandemic in New York City]], and a corresponding [[Impact of the COVID-19 pandemic on tourism|downturn in tourism globally]], the Plaza's hotel rooms temporarily closed in March 2020, and several hundred employees were laid off.<ref>{{cite web|last=Engquist|first=Erik|date=March 27, 2020|title=Plaza Hotel in New York City Closes, Lays Off 251|url=https://therealdeal.com/2020/03/27/the-plaza-shuts-down-and-lays-off-251/|access-date=November 26, 2020|website=The Real Deal New York}}</ref> The residential section of the Plaza remained open through the pandemic.<ref>{{Cite news|last1=Yeginsu|first1=Ceylan|last2=Norman|first2=Derek M.|date=October 9, 2020|title='If No Tourists Come, I Have No Business': New York's Tourism Crisis|language=en-US|work=The New York Times|url=https://www.nytimes.com/2020/10/09/travel/nyc-tourism-travel-restrictions.html|access-date=November 26, 2020|issn=0362-4331}}</ref>
 
Qatari state-owned hotelier [[Katara Hospitality]] ultimately acquired full ownership of the Plaza Hotel in July 2018.<ref name="Mashayekhi 2018" /><ref>{{Cite web|last=Kim|first=Betsy|date=July 5, 2018|title=Plaza Hotel Sold for $600 Million|url=https://www.globest.com/2018/07/05/plaza-hotel-sold-for-600-million/|url-status=live|archive-url=|archive-date=|access-date=November 25, 2020|website=GlobeSt|language=en}}</ref><ref>{{cite web|last=Tan|first=Gillian|date=July 5, 2018|title=NYC'sNYC’s Historic Plaza Hotel Sold to Qatari State-Owned Company|url=https://www.bloomberg.com/news/articles/2018-07-05/nyc-s-historic-plaza-hotel-is-sold-to-qatari-state-owned-company|access-date=November 25, 2020|website=Bloomberg.com}}</ref> Because of the [[COVID-19 pandemic in New York City]], and a corresponding [[Impact of the COVID-19 pandemic on tourism|downturn in tourism globally]], the Plaza's hotel rooms temporarily closed in March 2020, and several hundred employees were laid off.<ref>{{cite web|last=Engquist|first=Erik|date=March 27, 2020|title=Plaza Hotel in New York City Closes, Lays Off 251|url=https://therealdeal.com/2020/03/27/the-plaza-shuts-down-and-lays-off-251/|access-date=November 26, 2020|website=The Real Deal New York}}</ref> The residential section of the Plaza remained open through the pandemic.<ref>{{Cite news|last1last=Yeginsu|first1first=Ceylan|last2=Norman|first2=Derek M.|date=October 9, 2020|title='If‘If No Tourists Come, I Have No Business'Business’: New York'sYork’s Tourism Crisis|language=en-US|work=The New York Times|url=https://www.nytimes.com/2020/10/09/travel/nyc-tourism-travel-restrictions.html|access-date=November 26, 2020|issn=0362-4331}}</ref>
 
== Use ==
 
=== Social scene ===
The Plaza Hotel became associated with celebrities and the wealthy upon its opening, surpassing the original Waldorf Astoria in that respect.<ref name="Satow ch. 1">{{harvnb|Satow|2019|ps=.|loc=chapter 1}}</ref><ref>{{cite book|last=Groth|first=Paul|url=https://books.google.com/books?id=iISubnikC2kC|title=Living Downtown: The History of Residential Hotels in the United States|publisher=University of California Press|year=1994|isbn=978-0-520-06876-6|location=|page=42|pages=}}</ref> The Palm Court (then the tea room), with its mostly female guest list, was particularly frequented. Weeks after the hotel's 1907 opening, actress [[Mrs Patrick Campbell]] attempted to smoke there, and the resulting controversy boosted the Plaza's stature.<ref name="NYCL p. 57" /><ref name="Harris p. 66, 68">{{harvnb|Harris|1981|ps=.|pp=66, 68}}</ref> In January 1908, crowds flocked to see heiress [[Gladys Vanderbilt Széchenyi|Gladys Vanderbilt]] and her fiance, Hungarian count [[László Széchenyi]], have tea while Theodora Shonts arrived with her fiance [[Emmanuel d'Albert de Luynes]], the [[Duke of Chaulnes]].<ref name="NYCL p. 15" /><ref>{{Cite news|last=|first=|date=January 12, 1908|title=Crush to See Brides Who'll Wear Titles; Throng of Women at the Plaza Jams Corridors, Men's Cafe, and Grill. Duke and Count on View With Miss Theodora Shonts and Miss Gladys Vanderbilt, Whom They Are Soon to Wed|language=en-US|work=The New York Times|url=https://www.nytimes.com/1908/01/12/archives/crush-to-see-brides-wholl-wear-titles-throng-of-women-at-the-plaza.html|url-status=live|access-date=November 27, 2020|issn=0362-4331}}</ref><ref name="Brown p. 174">{{harvnb|Brown|1967|ps=.|p=174}}</ref> That year, the ''New York World'' dubbed the hotel the "Home-for-the-Incurably Opulent".<ref name="NPS p. 8">{{harvnb|National Park Service|1978|ps=.|p=8}}</ref><ref name="Harris p. 66">{{harvnb|Harris|1981|ps=.|p=66}}</ref> By 1909, the Palm Court was consistently exceeding its 350-person capacity.<ref name="NYCL p. 15" /><ref>{{Cite news|last=|first=|date=April 25, 1909|title=Society's Latest Fad--Tearooms|language=en-US|work=The New York Times|url=https://www.nytimes.com/1909/04/25/archives/societys-latest-fadtearooms.html|url-status=live|access-date=November 28, 2020|issn=0362-4331}}</ref>
 
During the 1920s, the basement's grill room was a popular meeting place for young adults born during the [[Lost Generation]].<ref name="Harris p. 67">{{harvnb|Harris|1981|ps=.|p=67}}</ref> The Oak Room was frequented by actor [[George M. Cohan]], and a commemorative plaque for Cohan was installed in the room in the 1940s after his death.<ref name="NYCL p. 15" /><ref name="Gathje p. 78">{{harvnb|Gathje|2000|ps=.|p=78}}</ref><ref>{{Cite news|last=|first=|date=March 11, 1943|title=Plaque to Honor Cohan, Harris|language=en-US|work=The New York Times|url=https://www.nytimes.com/1943/03/11/archives/plaque-to-honor-cohan-harris.html|url-status=live|access-date=November 28, 2020|issn=0362-4331}}</ref> The Persian Room was popular with the "cafe society", being frequented by socialites and fashion trendsetters.<ref name="Satow ch. 6" /> In the 1970s, the Persian Room hosted performances from pop singers like [[Robert Goulet]] and [[Dusty Springfield]].<ref name="Satow ch. 10" />
 
The hotel has also been popular among world leaders, particularly presidents of the United States. The first of these was [[Theodore Roosevelt]], the 26th U.S. president, who moved his [[Republican Party (United States)|Republican Party]]'s events to the Plaza Hotel from the [[Fifth Avenue Hotel]] after the closure of the former in 1908.<ref name="Harris pp. 109-110">{{harvnb|Harris|1981|ps=.|pp=109–110}}</ref> Theodore Roosevelt's distant cousin, president [[Franklin D. Roosevelt]], had his birthday luncheon in the Palm Court in 1935.<ref name="NYCL p. 58">{{harvnb|Landmarks Preservation Commission|2005|ps=.|p=58 (PDF p. 59)}}</ref><ref>{{Cite news|last=|first=|date=January 31, 1935|title=Gay Pageant Here Honors President|language=en-US|work=The New York Times|url=https://www.nytimes.com/1935/01/31/archives/gay-pageant-here-honors-president-ball-at-the-waldorf-is-central.html|url-status=live|access-date=November 30, 2020|issn=0362-4331}}</ref> Other U.S. presidents who frequented the hotel's guestrooms or restaurants have included [[William Howard Taft]], [[Harry S. Truman]], and [[Richard Nixon]],<ref name="NYCL p. 58" /><ref name="Harris p. 110">{{harvnb|Harris|1981|ps=.|p=110}}</ref> as well as onetime owner Donald Trump.<ref name=":1" /> The Plaza Hotel also kept a series of national flags, which were displayed whenever a foreign head of state visited.<ref name="Harris p. 110" /> The Plaza Hotel has also been used for political events, as in September 1985, the finance ministers of several countries signed the [[Plaza Accord]] at the hotel, which [[Currency appreciation and depreciation|depreciated]] the [[United States dollar|U.S. dollar]] in relation to other currencies.<ref>{{cite book|last=Funabashi|first=Yōichi|url=https://books.google.com/books?id=wuZgDwAAQBAJ&pg=PA263|title=Managing the Dollar: From the Plaza to the Louvre|publisher=Institute for International Economics|year=1989|isbn=978-0-88132-097-8|series=Books / Institute for international economics|pages=261–271}}</ref>
 
==== Receptions and performances ====
[[File:Dinner at the Plaza Hotel, New York 1908.jpg|thumb|Depiction of a dinner at the Plaza Hotel in 1908]]
The Terrace Room has frequently been used for press conferences, luncheons, and receptions.<ref name="NYCL p. 15" /> For instance, it hosted a 1956 press conference where [[Laurence Olivier]] and [[Marilyn Monroe]] talked about their upcoming film ''[[The Prince and the Showgirl]].''<ref name="Gathje p. 111">{{harvnb|Gathje|2000|ps=.|p=111}}</ref> At another press conference in the Terrace Room in 1968, [[Richard Burton]] and [[Elizabeth Taylor]] discussed their film ''[[Doctor Faustus (1967 film)|Dr. Faustus]]''.<ref name="NYCL p. 15" /><ref name="Gathje p. 137">{{harvnb|Gathje|2000|ps=.|p=137}}</ref> In addition, during the Beatles' 1964 stay at the hotel, visitors were allowed to take pictures with the Beatles at the Terrace Room.<ref name="Gathje pp. 124-125" /> In the 1970s, the Persian Room hosted performances from pop singers like [[Robert Goulet]] and [[Dusty Springfield]].<ref name="Satow ch. 10" />
 
==== Benefits and weddings ====
 
=== In media ===
The Plaza Hotel has been featuredused as a setting in several media works throughout its history. It served as the setting for books such as the ''Eloise'' series,<ref name="nyt19791230" /><ref name="Jackson p. 1003" /><ref name="Jackson p. 411">{{harvnb|Jackson|2010|ps=.|p=411}}</ref> the success of which led the hotel's owners during the 1960s to hang the character's portrait in the lobby.<ref name="nyt19791230" /> The Plaza was also featured in F. Scott Fitzgerald's 1925 novel ''[[The Great Gatsby]].<ref name="Mashayekhi 2018" />'' In addition, several films have been set or filmed at the Plaza, such as ''[[North by Northwest]]'' (1959),''<ref name="Mashayekhi 2018" /><ref name="Jackson p. 1003" />''<ref name="Gathje p. 116">{{harvnb|Gathje|2000|ps=.|p=116}}</ref> [[Barefoot in the Park (film)|<u>''Barefoot in the Park''</u>]] (1967),<ref name="NYCL p. 16" /><ref>{{cite book|last=Shelley|first=Peter|url=https://books.google.com/books?id=2CpzBgAAQBAJ&pg=PA23|title=Neil Simon on Screen: Adaptations and Original Scripts for Film and Television|publisher=McFarland, Incorporated, Publishers|year=2015|isbn=978-0-7864-7198-0|page=23|access-date=November 29, 2020}}</ref> [[Funny Girl (film)|''Funny Girl'']] (1968), [[Plaza Suite (film)|''Plaza Suite'']] (1971),<ref name="Jackson p. 1003" /><ref name="NYCL p. 16" /> ''[[The Way We Were]]'' (1973),<ref name="Jackson p. 1003" /> and ''[[Home Alone 2: Lost in New York]]'' (1992).<ref>{{Cite web|last=Alberts|first=Hana R.|date=November 7, 2017|title=The definitive guide to 'Home Alone 2' filming locations in NYC|url=https://ny.curbed.com/maps/home-alone-2-new-york-filming-locations|access-date=July 22, 2020|website=Curbed NY|language=en}}</ref>
 
Several films have been set or filmed at the Plaza, such as ''[[North by Northwest]]'' (1959),''<ref name="Mashayekhi 2018" /><ref name="Jackson p. 1003" />''<ref name="Gathje p. 116">{{harvnb|Gathje|2000|ps=.|p=116}}</ref> [[Barefoot in the Park (film)|<u>''Barefoot in the Park''</u>]] (1967),<ref name="NYCL p. 16" /><ref>{{cite book|last=Shelley|first=Peter|url=https://books.google.com/books?id=2CpzBgAAQBAJ&pg=PA23|title=Neil Simon on Screen: Adaptations and Original Scripts for Film and Television|publisher=McFarland, Incorporated, Publishers|year=2015|isbn=978-0-7864-7198-0|page=23|access-date=November 29, 2020}}</ref> [[Funny Girl (film)|''Funny Girl'']] (1968), [[Plaza Suite (film)|''Plaza Suite'']] (1971),<ref name="Jackson p. 1003" /><ref name="NYCL p. 16" /> ''[[The Way We Were]]'' (1973),<ref name="Jackson p. 1003" /> and ''[[Home Alone 2: Lost in New York]]'' (1992).<ref>{{Cite web|last=Alberts|first=Hana R.|date=November 7, 2017|title=The definitive guide to 'Home Alone 2' filming locations in NYC|url=https://ny.curbed.com/maps/home-alone-2-new-york-filming-locations|access-date=July 22, 2020|website=Curbed NY|language=en}}</ref> Conversely, the Plaza Hotel has disallowed some productions from filming there.<ref name="Tampa Bay Times 2018">{{cite web|last=Spears|first=Steve|date=June 10, 2018|title=30 years ago, ‘Big Business’ was really small potatoes|url=https://www.tampabay.comundefined/|access-date=November 30, 2020|website=Tampa Bay Times}}</ref> The producers of [[Big Business (1988 film)|''Big Business'']] (1988), faced with such a restriction, created their own version of the Plaza Hotel on a [[sound stage]].<ref name=":2" /><ref name="Tampa Bay Times 2018" />
 
== See also ==
===Sources===
{{refbegin|30em}}
* {{Cite book|last=Brown|first=Eve|url=https://www.worldcat.org/title/plaza-its-life-and-times/oclc/1974859|title=The Plaza; its life and times,|date=1967|publisher=Meredith Press|location=New York|language=English|oclc=1974859}}
* {{Cite journal|last=Frohne|first=H. W.|date=1907|title=Designing a Metropolitan Hotel, the Plaza|url=https://babel.hathitrust.org/cgi/pt?id=gri.ark:/13960/t3b05zj49&view=1up&seq=365|journal=Architectural Record|volume=22|pages=349–364349-364|via=}}
* {{Cite book|last=Gathje|first=Curtis|url=https://www.overdrive.com/search?q=01ACC6C4-CDC1-4A20-9A6D-AAAFB4C818F5|title=At the Plaza: an illustrated history of the world's most famous hotel|date=2000|isbn=978-1-4668-6700-0|language=English|oclc=874906584}}
* {{cite book|last=Gura|first=Judith|url=https://www.google.com/books/edition/Guide_to_New_York_City_Landmarks/AwYcSFtdE_AC?hl=en&gbpv=1&pg=PA157&printsec=frontcover|title=Interior landmarks : treasures of New York|publisher=The Monacelli Press|year=2015|isbn=978-1-58093-422-0|locationpublication-place=New York, New York|oclc=899332305}}
* {{Cite book|last1last=Harris|first1first=Bill|url=https://archive.org/details/plazaharr00harr|title=The Plaza|last2=Clucas|first2=Philip|last3=Smart|first3=Ted|last4=Gibbon|first4=David|last5=Westin Hotels|date=1981|publisher=Poplar Books|year=|isbn=|location=Secaucas, N.J.|pages=17|language=English|oclc=1036787315|ref={{harvid|Harris|1981}}}}
* {{cite web|last=|first=|date=November 29, 1978|title=Historic Structures Report: Plaza Hotel|url=https://npgallery.nps.gov/AssetDetail/05e74221-73db-47ef-9bd3-eba48d72013f|url-status=live|archive-url=|archive-date=|access-date=|website=|publisher=[[National Register of Historic Places]], [[National Park Service]]|ref={{harvid|National Park Service|1978}}}}
* {{Cite enc-nyc2|ref={{harvid|Jackson|2010}}}}
* {{cite journal|last=|first=|date=1907|title=New Plaza Hotel|url=https://babel.hathitrust.org/cgi/pt?id=coo.31924015137684&view=1up&seq=91|journal=Architecture|volume=16|pages=179, 187|ref={{harvid|Architecture|1907}}}}
* {{cite journalbook|last=|first=|url=https://books.google.com/books?id=NoxMAAAAYAAJ|title=The Plaza Hotel|date=October 26, 1907|journal=American Architect and Architecture|publisher=American Architect|year=|isbn=|volume=92|location=|pages=134–136134-136|ref={{harvid|American Architect|1907}}}}
* {{cite web|date=December 9, 1969|title=The Plaza Hotel|url=http://s-media.nyc.gov/agencies/lpc/lp/0265.pdf|archive-url=|archive-date=|publisher=[[New York City Landmarks Preservation Commission]]|ref={{harvid|Landmarks Preservation Commission|1969}}}}
* {{Cite journal|last=|first=|date=October 1907|title=The Plaza Hotel, H. J. Hardenberg, Architect|url=https://babel.hathitrust.org/cgi/pt?id=umn.31951000969824v&view=1up&seq=9|journal=Architects' and Builders' Magazine|volume=9|pages=1–251-25|ref={{harvid|Architects' and Builders' Magazine|1907}}|via=}}
* {{cite web|url=http://s-media.nyc.gov/agencies/lpc/lp/2174.pdf|title=Plaza Hotel Interior|date=July 12, 2005|publisher=[[New York City Landmarks Preservation Commission]]|archive-url=|archive-date=|ref={{harvid|Landmarks Preservation Commission|2005}}}}
* {{cite book|last=Satow|first=Julie|url=https://www.google.com/books/edition/The_Plaza/LvBzDwAAQBAJ?hl=en&gbpv=1&printsec=frontcover|title=The Plaza : the secret life of America's most famous hotel|publisher=Twelve|year=2019|isbn=978-1-4555-6666-2|location=|publication-place=New York|pages=|oclc=1057242880}}
* {{cite New York 1930|ref={{harvid|Stern|Gilmartin|Mellins|1987}}}}
* {{Cite New York 1900|ref={{harvid|Stern|Gilmartin|Massengale|1983}}}}
* {{cite book|last1last=Stern|first1first=Robert A. M.|url=https://books.google.com/books?id=oVWqQgAACAAJ|title=New York 1880: Architecture and Urbanism in the Gilded Age|last2=Mellins|first2=Thomas|last3=Fishman|first3=David|publisher=Monacelli Press|year=1999|isbn=978-1-58093-027-7|page=|location=|pages=}}
{{refend}}