Katara Hospitality has acquired full ownership of the 1907 property for about $600 million. A fund controlled by the Gulf state of Qatar has emerged as a surprise buyer of New York's famed Plaza Hotel, according to people familiar with the matter.

The Plaza Hotel in New York City was sold in 2018 for $600 million to a group led by Saudi Prince Al-Waleed bin Talal and Katara Hospitality of Qatar.

However, that headline price requires some important context:

• The 2018 Sale: The $600 million purchase was for the hotel operating business and the brand, but not the underlying real estate or the hotel rooms. The building itself is owned separately as condominiums.
• The Condo Conversion: In a landmark deal in 2005, a group led by El-Ad Properties bought The Plaza for $675 million and converted a large portion of it into private condominium apartments. The hotel rooms that remain are operated as a hotel, but the physical spaces are owned by individual condo owners.
• Current Structure: So, today, The Plaza is essentially a condominium-hotel. The 2018 sale was for the right to manage the hotel operations within that building, not for the property itself.

In summary: 2005 (Last full property sale): $675 million (leading to condo conversion) 2018 (Sale of hotel business/management): $600 million

Therefore, while the most recent transaction was for $600 million, the last time the entire physical asset was sold was in 2005 for $675 million.