The Plaza Hotel is a landmark 20-storey luxury hotel and condominium apartment building in Midtown Manhattan district in Manhattan district of New York City. Opened in 1907 and now owned by Indian conglomerate, Sahara India Pariwar.
Video Plaza Hotel
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With a height of 250Ã, ft (76 m) and a length of 400 m (120 m), the hotel occupies the west side of the Grand Army Plaza, from where it came from, and stretches along Central Park South in Manhattan. Fifth Avenue runs along the east side of the Grand Army Plaza. The Plaza Hotel is recognized as an American Historic Hotel by the National Trust for Historic Preservation. The hotel's main entrance at 768 Fifth Avenue overlooks the southern portion of the Grand Army Plaza, commemorating Union Army in the Civil War, from which its eponymous predecessor got its name.
Maps Plaza Hotel
History
The construction of the first Plaza Hotel at this location began in 1883, on the site of the New York Skating Club. The builders ran out of money, and the New York Life Insurance Company confiscated and hired the most famous architects of the era, McKim, Mead & amp; White, to complete the hotel, which finally opened on October 1, 1890.
It soon became clear that the first hotel was too small, and demolished in 1905. The new and larger Plaza Hotel, a Renaissance Renaissance-style Renaissance building designed by Henry Janeway Hardenbergh, was built in twenty-seven months at a cost of $ 12.5 million, opened to the public on October 1, 1907. When the hotel opened, the rooms at the Plaza Hotel were only $ 2.50 per night, equivalent to $ 65.66 in 2017. The same room cost more than $ 1,000 per night in 2001. This hotel proved to be very popular so that a large 300-room pavilion was added to the hotel along 58th Street from 1920-1921.
Conrad Hilton bought the Plaza Hotel for $ 7.4 million in October 1943 (equivalent to $ 105 million in 2017) and spent $ 6 million (equivalent to $ 84.9 million in 2017) to fix it. Hilton sold the hotel ten years later, in 1953, to the Boston industrialist A.M. "Sonny" Sonnabend for $ 16 million. Hilton sold the Plaza to raise funds for the construction of Beverly Hilton, but soon rented the Plaza for two and a half years, and then four more when the lease was over. Sonnabend became president of The Childs Company, a chain of national restaurants, two years later, and Childs bought The Plaza on November 18, 1955 for $ 6.2 million (equivalent to $ 57.8 million in 2017). Childs has partnered in the development of the adjacent Savoy-Plaza Hotel, (now the location of General Motors Building). Sonnabend created the Corporation of America (HCA) Hotel in 1956, to boost the tax loss of Childs. HCA assumed the management of Plaza of Hilton in January 1960. HCA changed its name to Sonesta International Hotels in 1970. Sonesta sold Plaza to Western International Hotels in 1975 for $ 25 million (equivalent to $ 114 million in 2017). The Western International changed its name to the Westin Hotel in 1980.
Westin sold The Plaza to Donald Trump for $ 390 million on March 27, 1988 (equivalent to $ 807 million in 2017). Trump commented on his purchase in a full-page open letter in The New York Times: "I have not bought a building yet, I have bought a masterpiece - Mona Lisa For the first time in my life , I have consciously made an uneconomical deal - because I can never justify the price I pay, no matter how successful the Plaza is. "Trump put his wife, Ivana Trump, as president of the hotel. After $ 50 million under renovation, the hotel earns a healthy operating income, but it is not enough to pay its heavy debt repayments. Trump made plans to pay off hotel debt by selling many of his units as condominiums. An agreement was reached for Plaza creditors, a group of banks led by Citibank, to take a 49% stake in the hotel in exchange for a $ 250 million pardon in the form of debt and interest rate reductions. The deal was filed as a bankruptcy prepared in November 1992.
In 1995, CDL Hotels International and Saudi prince Al-Waleed bin Talal bought controlling stake in the Plaza in a deal worth $ 325 million (equivalent to $ 522 million in 2017).
The hotel was sold in 2004 for $ 675 million (equivalent to $ 875 million in 2017) to Israel-based Manhattan developer El Ad Properties. El Ad bought the hotel with plans to add parts of housing and commercial. Since Plaza Hotel is a New York landmark, Tishman Construction Corporation, a construction management company hired to complete renovations and conversions, must comply with landmark regulations. El Ad temporarily closed Plaza Hotel on April 30, 2005, for a massive renovation for $ 450 million. Starting May 2005, the contents of Plaza Hotel are available to the public through the sale of liquidation.
The hotel reopened on 1 March 2008, offering 282 hotel rooms and 152 private condominium units; managed by Fairmont Hotels and Resorts. Lev Leviev's diamond retailer put the first bid for Plaza apartment for $ 10 million. Most condo units are usually empty, used as pieds-ÃÆ' -were attached to their wealthy owners.
In November 2008, Plaza Hotel launched its retail collection, an underground mall featuring luxury brands such as Vertu and Demel Bakery (closed as of March 2010), an Austrian-owned business. In 2010, Plaza Food Hall opened in an underground mall, anchored by The Todd English Food Hall in collaboration with Chef Todd English.
On July 31, 2012, Indian business group Sahara India Pariwar agreed to buy a 75% controlling stake of $ 570 million from El Ad Properties. Stakes include 100 of the 150 Plaza-condominium hotel units and the retail section that includes The Oak Room bar.
In August 2014, Sahara's Subrata Roy announced that he was looking for a buyer for the majority stake of his company in Plaza, along with similar shares at Dream Hotel in New York and Grosvenor House Hotel in London. The $ 4 billion price tag is placed in Plaza stock. Speculation that Sultan Hassanal Bolkiah of Brunei will become a buyer undone by the sultan.
In 2016, Saudi entrepreneur Al-Waleed bin Talal, who has controlled 50% of shares in hotels, restaurants and building retailing through his Royal Holdings, partnered with the Qatar Investment Authority to buy the hotel, but the deal failed. He partnered again in 2017 with Ashkenazy Acquisition Corp in another attempt to buy control over the structure. In May 2018, the Sahara Group announced it had finalized an agreement with Shahal M. Khan, founder of Dubai-based White City Ventures, and Kamran Hakim of the Judicial Organization to purchase a majority of the hotel's shares for $ 600 million. The deal is expected to close on June 25, 2018.
The Plaza Hotel was awarded a landmark status by the New York City Land Preservation Commission in 1969; it was designated a National Historic Landmark (NHL) in 1986 because of its luxurious architecture.
Famous use
The length of the site for well-known players and guests, has also become a meeting place for important political meetings. Internationally renowned singers Josephine Baker, Eartha Kitt, Liza Minnelli, Marlene Dietrich, Lena Horne, Kay Thompson, Sandler and Young, Ethel Merman, Shirley Bassey, Andy Williams, The Mills Brothers, Patti Page and Peggy Lee play the Persian Room. Miles Davis recorded a live album in the Persian Room in 1958.
Unaccompanied women are not allowed in the Oak Room bar; women love the Palm Court for lunch and tea.
In September 1985, ministers of developed countries met at the Plaza Hotel to consult on financial matters and confirmed their agreement by signing the Plaza Accord. It serves as an agreement among finance ministers of the United States, Japan, West Germany, France, and Britain to lower the price of the US dollar against their currencies.
The Beatles stayed at the Plaza Hotel during their first visit to the United States in February 1964.
On November 28, 1966, in honor of publisher Katharine Graham, author Truman Capote held her famous "Black and White" Ball in the Grand Ballroom. The ballroom is also a venue, in 1993, Donald Trump's marriage to Marla Maples in front of 1,500 guests.
Facilities
The Plaza Hotel offers guests and many services including servants on every floor, baby sitting and concierge, shopping center, Palm Court under restored stained glass ceiling, Champagne Bar located in the hotel lobby with views of the Grand Army Plaza , Edwardian Room, Terrace Room, Rose Club, Grand Ball Room, The Plaza Food Hall and The Todd English Food Hall Restaurant and Marketplace, as well as meeting and conference rooms. The Grand Ballroom, Terrace Room and meeting room are currently managed by CPS Events, a joint venture between Delaware North Companies and the high-end Upper Provider. The Oak Room, now closed, is another restaurant in the Plaza.
In popular culture
Literature
Movies
Television
Gallery
- Plaza Hotel
See also
- List of New York City Designated in Manhattan from 59th to 110th Streets
- List of Historic Sites Historic Places in Manhattan above 59th to 110th Streets
References
Note
Bibliography
- WPA Guide to New York City , 1939 (reprinted 1982) (ISBN 0-394-71215-3)
- The Plaza Hotel, from the former architecture critic website New York Post
- The Plaza Says It Will Become History After April 30, March 2005 article New York Times (registration required)
- The Plaza Lives !, the oral history of Plaza Hotel that appeared in the magazine New York in May 2005.
- Fairmont to manage the Plaza Hotel in New York City, reports CBC News
External links
- Official website
- The Plaza: 768 Fifth Avenue, detailed building information, building ranks, pros and cons
- The Plaza Hotel, a picture of New York Architecture
- Pictures, descriptions and reviews about The Plaza
Source of the article : Wikipedia
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