May 16, 2005

The Plaza's new owner seeking buyer

The Plaza hotel, shuttered just weeks ago to start 18 months of renovations, may once again be for sale, according to the Post.

Elad Properties, which bought The Plaza only last year, is seeking to sell all or part of the hotel/condo/retail complex. Real Estate Investment & Finance reported that Elad Naftali may sell to Prince Alwaleed bin Talal, who was a a partner in The Plaza's former ownership structure.

Naftali has also been in discussions with Raffles Holdings, Shangri-La Hotels & Resorts, and Bvlgari Hotels & Resorts.

May 16, 2005 09:57 AM in Hotelology

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