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The '''Plaza Hotel''' (also known as '''The Plaza''') is a [[luxury hotel]] and condominium [[apartment building]] in [[Midtown Manhattan]] in [[New York City]]. It is on the western side of [[Grand Army Plaza (Manhattan)|Grand Army Plaza]], just west of [[Fifth Avenue]], between 58th Street and [[Central Park South]]. The Plaza Hotel is named for Grand Army Plaza, which in turn is at the southeastern corner of [[Central Park]]. Its primary address is at 768 Fifth Avenue, though the residential entrance is at One Central Park South.
The 1921-story, [[French Renaissance]]-inspired [[château]]-style building was designed by [[Henry Janeway Hardenbergh]]. The facade is made of marble at the base and white brick in the intermediate stories, while the hotel is topped by a [[mansard roof]]. The ground floor contains the two primary lobbies, as well as a corridor connecting the large ground-floor restaurant spaces, including the [[Oak Room (Plaza Hotel)|Oak Room]], the Oak Bar, the Edwardian Room, the Palm Court, and the Terrace Room. The upper stories contain the ballroom and a variety of residential [[Condominium|condominiums]], condo-hotel suites, and short-term hotel suites. At its peak, the Plaza Hotel had over 800 rooms. Following a renovation in 2008, the building has 282 hotel rooms and 181 condos.
A predecessor hotel of the same name was built from 1883 to 1890. The original hotel was replaced by the current structure from 1905 to 1907; [[Warren and Wetmore]] designed an expansion to the Plaza Hotel from 1919 to 1921, and several major renovations were conducted through the rest of the 20th century. The Plaza Operating Company, which erected the current building, operated the hotel until 1943. Subsequently, it was sold to several owners during the remainder of the 20th century, including [[Conrad Hilton]], A.M. Sonnabend, [[Westin Hotels & Resorts]], [[Donald Trump]], and a partnership of [[City Developments Limited]] and [[Al-Waleed bin Talal]]. The Plaza Hotel was renovated again after [[El Ad Properties]] purchased it in 2005, and the hotel was subsequently sold to [[Sahara India Pariwar]] and finally to [[Katara Hospitality]].
== Design ==
The Plaza Hotel, a [[French Renaissance]]-inspired [[château]]-style building,<ref name="nycland">{{cite nycland|pages=156-157}}</ref> contains 1921 stories and is {{convert|251.92|ft|abbr=on|}} tall.<ref name="Emporis">{{cite web|title=The Plaza Residences|url=|access-date=November 25, 2020|publisher=Emporis}}</ref> The Plaza Hotel's floors use an European floor-numbering pattern, where the first floor is1, onecorresponding story aboveto the groundsecond floorstory, sois directly above the highestground floor is numbered 18.<ref name="wp19750615">{{cite news|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|id={{ProQuest|135320103}}|issn=0190-8286}}</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 ===
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=|journal=Architecture and Building|publisher=W.T. Comstock Company|volume=54|pages=16-17}}</ref>
The groundfirst and firstsecond stories of the facade, respectively corresponding to the ground floor and floor 1 inside,{{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 theThe third story, corresponding to floor 2 inside, contains a smooth marble surface.<ref>{{harvnb|American Architect|1907|p=134}}; {{harvnb|Landmarks Preservation Commission|1969|p=1}}; {{harvnb|National Park Service|1978|ps=.|p=2}}</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">{{harvnb|American Architect|1907|ps=.|p=134}}</ref><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> Since the hotel's 2008 renovation, the Central Park South entrance has served as the entrance to the building's condominiums.<ref name="Horsley"/> 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 firstsecond floorstory, immediately above ground level. The firstsecond and secondthird floorsstories 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 thirdfourth through fourteenthfifteenth floorsstories, belowcorresponding theto mansardfloors roof3 through 14 inside respectively, are clad with white brick and typically contain rectangular windows.<ref name="NPS p. 2" /><ref>{{harvnb|Architects' and Builders' Magazine|1907|p=1}}; {{harvnb|Landmarks Preservation Commission|1969|p=2}}; {{harvnb|National Park Service|1978|ps=.|p=2}}</ref> These stories contain terracotta veneers that harmonize with the marble facade below it and the mansard roof above.<ref name="AA (1907) p. 134" /><ref name="ABM (1907) p. 1" /> At the center of the Central Park South facade, the five center bays at the eleventhtwelfth and twelfththirteenth stories (floors 11 and 12) contain an [[Arcade (architecture)|arcade]] composed of arches with paired pilasters. On the Grand Army Plaza side, there are horizontal [[band course]]s above the twelfththirteenth floorstory.<ref name="NYCL (1969) p. 2" /> The 58th Street facade is a scaled-down version of the two primary elevations on Grand Army Plaza and Central Park South.<ref name="NPS p. 5" /> A marble balcony runs above the twelfththirteenth floorstory on all sides.<ref name="NPS p. 2" /><ref name="NYCL (1969) p. 2" />
The top floors are within a green-tile [[mansard roof]] with copper trim.<ref>{{harvnb|American Architect|1907|p=134}}; {{harvnb|Landmarks Preservation Commission|1969|p=2}}; {{harvnb|National Park Service|1978|ps=.|p=2}}</ref> The Grand Army Plaza side contains a [[gable]], while the 58th Street and Central Park South side has four stories of [[dormer]] windows on the fifteenthsixteenth through eighteenthnineteenth stories, corresponding to interior floors 15 through 18. The turrets on the northeastern and southeastern corners are topped by domed roofs.<ref name="NYCL (1969) p. 2" /><ref name="NPS p. 5" /> The twentieth story (floor 19) is the top story of the mansard roof; above it is a twenty-first-story penthouse, labeled as floor 20.<ref name="Horsley" /><ref name="Tzeses">{{cite web|last=Tzeses|first=Jennifer|title=The Plaza’s Only Triplex Penthouse Is for Sale for $50 Million|url=|access-date=November 1, 2020|website=Architectural Digest}}</ref>
=== Mechanical features ===
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"/><ref name="ABM (1907) p. 16"/> 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=|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=|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 theon eighteenthfloor floor18.<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-spaces on floor spaces18 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.&nbsp;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">{{harvnb|ps=.|Architecture|1907|p=179}}</ref><ref name="rer19070914">{{cite journal|date=September 14, 1907|title=Newest Great Hotel|url=|journal=The Real Estate Record: Real estate record and builders' guide|volume=80|pages=398|via=[[Columbia University|]]|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-ballroom on floor ballroom1. 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.&nbsp;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 thefloor third floor2 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>
==== Ground-floor restaurants ====
==== Ballroom ====
[[File:Plaza Hotel first floor plan.png|thumb|Original plan of the first floor 1 (actually the second story), which is one story above ground level). The top of this diagram faces south. The current ballroom, not shown, would be built in the space at the top right of this diagram.]]
The original double-height ballroom on the first floor, dating from Hardenbergh's plan, was on the north side of the firstsecond story, labeled as floor and1 isin nothe Plaza Hotel's floor longernumbering extantsystem. The old ballroom, with a capacity of 500 to 600 people, was served by its own elevator and staircase, and contained a movable stage.<ref name="AA (1907) p. 134" /><ref name="rer19070914" /> The old ballroom was overlooked on three sides by balconies, and contained a similar white-and-cream color scheme to the current ballroom.<ref name="nyt19070929" /><ref name="ABM (1907) p. 8" /> It was served by its own entrance on 58th Street.<ref name="ABM (1907) p. 8" /> The old ballroom was replaced by offices by the 1970s.<ref name="NPS p. 5" />
The current ballroom on thefloor first floor1 is at the center of that story.<ref name="NYCL p. 23">{{harvnb|Landmarks Preservation Commission|2005|ps=.|p=21 (PDF p.&nbsp;23)}}</ref><ref name="NPS p. 11">{{harvnb|National Park Service|1978|ps=.|p=11}}</ref> It was initially designed by Warren and Wetmore, and had a capacity of 800 people during dinners and 1,000 people during dances.<ref name="Architecture and Building 1922" /><ref name="NYCL p. 13" /> The room contained a coved ceiling designed by Smeraldi, with crosses, hexagons, and octagons, as well as six overhanging chandeliers. The ballroom had a stage on its western wall, within a rectangular opening. A balcony ran across the three other walls and was supported by pilasters with bronze capitals.<ref name="NYCL p. 35">{{harvnb|Landmarks Preservation Commission|2005|ps=.|p=35 (PDF p.&nbsp;36)}}</ref>
Warren and Wetmore's ballroom was reconstructed in 1929 to a neoclassical design by Schultze & Weaver.<ref name="NPS p. 5" /><ref name="NYCL p. 35" /> The room has a white and cream color scheme with gold ornamentation, evocative of the original ballroom's design.<ref name="NYCL p. 13" /><ref name="Brown p. 73">{{harvnb|ps=.|Brown|1967|p=73}}</ref> The stage remains on the western wall, but is within a rounded opening. The redesign added audience boxes on the north and east walls, with decorative metal railings.<ref name="NYCL p. 36">{{harvnb|Landmarks Preservation Commission|2005|ps=.|p=36 (PDF p.&nbsp;37)}}</ref><ref>{{Cite news|date=November 8, 1929|title=1,000 Hear Mary Garden.; With Ruth Breton She Gives First of "Artistic Mornings" at Plaza.|language=en-US|work=The New York Times|url=|url-status=live|access-date=November 27, 2020|issn=0362-4331}}</ref> The ballroom contains a coved ceiling with roundels, lunettes, bas reliefs, and two chandeliers.<ref name="NYCL p. 36" /> South of the ballroom proper is a corridor running west to east.<ref name="NYCL p. 23" /><ref name="NPS p. 11" /> The corridor has a decorative barrel-vaulted paneled ceiling and had a balcony that was removed in the 1929 redesign.<ref name="NYCL p. 39">{{harvnb|Landmarks Preservation Commission|2005|ps=.|p=39 (PDF p.&nbsp;40)}}</ref> On the southernmost section of thefloor first floor1 is the ballroom foyer and the stair hall, two formerly separate rooms that were combined in 1965 to form a neoclassical marble-clad space. The stair hall contains the stair leading from the mezzanine foyer.<ref name="NYCL p. 40">{{harvnb|Landmarks Preservation Commission|2005|ps=.|p=40 (PDF p.&nbsp;41)}}</ref><ref name="nyt19641117">{{Cite news|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=|url-status=live|access-date=November 28, 2020|issn=0362-4331}}</ref>
==== Condominiums and suites ====
[[File:Plaza Hotel corridor, Sept 2017.jpg|thumb|Suite hallway]]
The Plaza Hotel's condominiums and suites start at the secondthird story, labeled as floor 2.<ref name="ABM (1907) p. 142">{{harvnb|Architects' and Builders' Magazine|1907|ps=.|p=14}}</ref> As built, they contained three primary types of suites: those with one bedroom and one bathroom; those with two bedrooms and two bathrooms; and those with a parlor and a varying number of beds and baths.<ref name="rer19070914" /><ref name="Frohne pp. 352-353">{{harvnb|Frohne|1907|ps=.|pp=352–353}}</ref> The walls were originally painted in rose, yellow, cream, and gray hues.<ref name="Gathje p. 81">{{harvnb|Gathje|2000|ps=.|p=81}}</ref> For decorative effect, the rooms contained wooden wainscoting and furniture, while the plaster ceilings contained crystal chandeliers.<ref name="Gathje pp. 81-82">{{harvnb|Gathje|2000|ps=.|pp=81&ndash;82}}</ref> A guest or resident could request multiple suites, since there were smaller private hallways adjacent to the main hallway on each floor. There were also staff rooms at the corners of the main corridor on each floor.<ref name="nyt19070929" /><ref name="ABM (1907) p. 16">{{harvnb|Architects' and Builders' Magazine|1907|ps=.|p=16}}</ref><ref name="Frohne pp. 352-353" /> Dumbwaiters led from the staff rooms to the basement kitchen, allowing guests to order meals and eat them in-suite.<ref name="nyt19070929" /><ref name="Harris pp. 22-23">{{harvnb|Harris|1981|ps=.|pp=22–23}}</ref><ref name="ABM (1907) p. 22">{{harvnb|Architects' and Builders' Magazine|1907|ps=.|p=22}}</ref>
Following its 2008 renovation, the building contains 181 privately owned condominiums, which are marketed as the Plaza Residences or One Central Park South.<ref name="aia5" /><ref name="Mashayekhi 2018" /><ref>{{Cite news|last=Haughney|first=Christine|date=February 17, 2008|title=It’s Lonely at the Plaza Hotel ...|language=en-US|work=The New York Times|url=|access-date=November 30, 2020|issn=0362-4331}}</ref> The condominiums are on the northern and eastern sides of the building and contain a variety of layouts, from studio apartments to three-story penthouse units. The condos' interior furnishings include parquet floors and stone counters, and largely reflect the original design of these rooms.<ref name="Horsley">{{Cite web|title=The Plaza, 1 Central Park South|first=Carter|last=Horsley|url=|access-date=November 30, 2020|website=City Realty|language=en}}</ref> There are also 282 hotel units on the southern side of the building. Of these, 152 condo-hotel units occupy eleventhe ofeleventh thethrough uppertwenty-first stories;, theyrespectively labeled as floors 10 through 20. The condo-hotel units serve as residences for investors or staff for up to four months a year, and are used as short-term hotel units for the remaining time. In addition, there are 130 rooms exclusively for short-term stays on seventhe offourth thethrough lowertenth stories, respectively labeled as floors 3 through 9.<ref name="Horsley" /><ref name="latimes20080303" /><ref name="Mashayekhi 2018" /> The hotel portion of the building retains a butler on each floor, reminiscent of the hotel's original ambience.<ref name="latimes20080303" />
Hardenbergh's design included the State Apartments on the northern side of thefloor first floor1.<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 thefloor first floor1 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" /> The twenty-first story (labeled as floor 20) was created as part of the 2008 renovation, and is part of a four-bedroom penthouse, the largest condominium in the building.<ref name="Tzeses" /><ref>{{cite web|last=Tzeses|first=Jennifer|title=The Plaza’s Only Triplex Penthouse Is for Sale for $50 Million|url=|access-date=November 1, 2020|website=Architectural Digest}}</ref>
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|language=en-GB|url=|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=|access-date=June 5, 2020|issn=0362-4331}}</ref>
==== Trump ownership ====
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|id={{ProQuest|277985843}} }}</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=|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|id={{ProQuest|135376084}} |issn=0099-9660}}</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=|via=NewsBank}}</ref><ref name="newsday19880720">{{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|id={{ProQuest|277975714}} }}</ref> andThe Trumps subsequently announced a major renovation program, which entailed restoring the lobby and some of the other interior elements.<ref name="newsday19880328" /><ref>{{Cite news|last=Dunlap|first=David W.|date=1988-12-20|title=Trumps Plan to Revamp The Plaza in a Big Way|language=en-US|work=The New York Times|url=|url-status=live|access-date=2020-12-01|issn=0362-4331}}</ref> The work also involved gilding many surfaces, replacing carpets, and reupholstering furniture.<ref>{{cite news|last=Revson|first=James A.|date=September 21, 1989|title=Donald and Ivana Glitz the Plaza|page=04|work=Newsday|id={{ProQuest|1943384125}} }}</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|id={{ProQuest|219134786}}|journal=Crain's New York Business|volume=6|issue=5|pages=1}}</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=|access-date=July 9, 2020|issn=0362-4331}}</ref> As a result, the Plaza Hotel's debt ultimately grew to $600 million.<ref name="Sun Sentinel 1992">{{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|id={{ProQuest|388941901}} }}</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=|access-date=November 29, 2020| {{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=|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=|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=June 3, 1990|title=Reaching for the Sky to Add a Room|language=en-US|work=The New York Times|url=|url-status=live|access-date=November 30, 2020|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="Sun Sentinel 1992" /> 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="Sun Sentinel 1992" /><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=|via=NewsBank}}</ref><ref>{{cite news|last=Lowenstein|first=Roger|date=March 19, 1992|title=Trump Agrees to Give Lenders 49% of Plaza Hotel|page=A5|work=Wall Street Journal|id={{ProQuest|135320103}}| issn=0099-9660}}</ref> The agreement was submitted as a [[prepackaged bankruptcy]] in November 1992<ref>{{cite news|date=November 4, 1992|title=Prepackaged Bankruptcy Is Filed for Plaza Hotel|page=A6|work=Wall Street Journal|id={{ProQuest|398326488}}|issn=0099-9660}}</ref><ref>{{Cite news|date=November 4, 1992|title=Company News; Trump Revises Plaza Loan|language=en-US|work=The New York Times|url=|url-status=live|access-date=November 30, 2020|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=|access-date=July 9, 2020|issn=0362-4331}}</ref>
The [[September 11 attacks]] in 2001 resulted in a downturn in the New York City tourism industry. Correspondingly, the Plaza's operating profits decreased greatly, leaving Kwek and Al-Waleed unable to refurbish the Plaza as they had previously planned to do.<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=|access-date=July 9, 2020|issn=0362-4331}}</ref><ref>{{cite news|date=August 16, 2004|title=Elad Properties: Plaza Hotel Will Change Hands In a $675 Million Transaction|page=A6|work=Wall Street Journal|id={{ProQuest|398907334}}|issn=0099-9660}}</ref> El Ad wished to add residential and commercial units, but initially faced pushback from hotel unions and preservationists, who opposed El Ad's plan to remove most of the hotel rooms and convert the restaurant spaces to stores.<ref name="Satow ch. 13"/><ref>{{cite web|title=Council fights hotels-to-condos trend|url=|access-date=November 30, 2020|website=Newsday}}</ref> After over sixty hours of discussions between El Ad and the hotel unions,<ref name="Satow ch. 13" /> they came to an agreement on April 14, 2005, in which El Ad would convert fewer units to apartments, while preserving more of the hotel suites.<ref>{{Cite news|date=April 14, 2005|title=Mayor Announces Deal to Ease Job Cuts in Plaza Hotel Overhaul (Published 2005)|language=en-US|work=The New York Times|url=|access-date=November 30, 2020|issn=0362-4331}}</ref><ref>{{cite web|last=Steele|first=Lockhart|date=April 14, 2005|title=Breaking: Plaza Hotel 'Saved,' Sort Of|url=|access-date=November 30, 2020|website=Curbed NY}}</ref>
The Plaza Hotel temporarily closed for a $450 million renovation on April 30, 2005, two weeks after the agreement had been brokered.<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=|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 portion.<ref>{{Cite news|title=Fairmont to manage New York City's Plaza Hotel|language=en-US|work=CBC|url=|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 stained glass ceiling was restored.<ref name="nyt20051212" /><ref name="latimes20080303" /> In addition, floors 18 and 19 were extended toward the interior courtyard, while a small floor 20 was created above the existing roof.<ref name="Horsley" /> The hotel reopened on March 1, 2008.<ref name="latimes20080303" /><ref>{{cite news|last=Baltic|first=Scott|title=New York's Plaza Hotel Reopens After $400M Renovation|url=|work=Commercial Property News|date=March 3, 2008|access-date=July 9, 2020}}</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=December 6, 2008|title=For a Luxury Mall, an Ill-Timed Debut|language=en-US|work=The New York Times|url=|url-status=live|access-date=November 30, 2020|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=|access-date=July 9, 2020|issn=0362-4331}}</ref><ref>{{Cite web|date=May 24, 2011|title=Q & A with Miki Naftali|url=|access-date=November 30, 2020|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.<ref>{{Cite news|last=Buckley|first=Cara|date=May 6, 2011|title=Oak Room Is Set to Close After Rent Fight With Plaza Hotel|language=en-US|work=The New York Times|url=|url-status=live|access-date=November 30, 2020|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=|access-date=November 30, 2020|website=Eater NY}}</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=|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=|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" /> The construction of the nearby [[Billionaires' Row (Manhattan)|Billionaires' Row]], a collection of residential skyscrapers marketed for the ultra-wealthy, also negatively affected sales at the Plaza.<ref>{{Cite web|last=Clarke|first=Katherine|title=The Plaza's Plight: Owners of apartments at the storied Central Park Hotel aren’t making the profits they’d hoped for|url=|access-date=November 30, 2020|website=New York Daily News}}</ref> 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=|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=|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=|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=|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=|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=|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=|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=|access-date=November 25, 2020|}}</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=|access-date=November 25, 2020|website=The Real Deal New York}}</ref>
=== Residents ===
When the Plaza Hotel opened in 1907, the first guest to sign its register was [[Alfred Gwynne Vanderbilt]].<ref name="NYCL p. 5" /> The hotel also housed other wealthy residents such as [[George Jay Gould]], as well as [[Oliver Harriman Jr.]] and his wife [[Grace Carley Harriman]].<ref name="tribune190710012">{{cite news|date=October 1, 1907|title=Dinner at the New Plaza Hotel|page=9|work=New-York Tribune|url=|access-date=November 25, 2020| {{open access}}}}</ref> John Gates, the hotel's co-developer, had a 16-room apartment on thefloor third floor3.<ref name="ABM (1907) pp. 16-18">{{harvnb|Architects' and Builders' Magazine|1907|ps=.|pp=16, 18}}</ref> [[Harry Frank Guggenheim]] lived in the hotel's State Apartment,<ref name="NPS p. 6" /><ref name="Gathje p. 82">{{harvnb|Gathje|2000|ps=.|p=82}}</ref> while Russian princess [[Vilma Lwoff-Parlaghy]], a prominent portrait painter in the early 20th century, lived in a third-suite on floor suite3 with her lion.<ref name="Gathje p. 89">{{harvnb|Gathje|2000|ps=.|p=89}}</ref><ref name="nyt20190607" /> The hotel's appeal to the wealthy came from the fact that, in the early 20th century, apartments at the Plaza were generally cheaper than in more upscale apartment buildings, and that it faced Central Park, which at the time was highly patronized by the wealthy.<ref name="Frohne p. 354">{{harvnb|Frohne|1907|ps=.|p=354}}</ref>
Later in the 20th century, the Plaza Hotel served as home to "wealthy widows", such as performer [[Kay Thompson]], who wrote the ''[[Eloise (books)|Eloise]]'' children's book series about a young girl who lived at the hotel.<ref name="nyt20190607" /> During the Great Depression, the "wealthy widows" were considered "a tourist attraction in their own right", with their rent income keeping the hotel solvent.<ref name="Satow ch. 6" /> The hotel's other residents included playwright [[Ferenc Molnár]].<ref name="Satow ch. 6" /><ref name="Gathje p. 90">{{harvnb|Gathje|2000|ps=.|p=90}}</ref>