The Plaza Hotel in New York will be acquired for $600 million by a Dubai-based investor who intends to transform the American hotel into a global brand.
Located on New York’s famous Fifth Avenue, the Plaza Hotel, which has existed for over 100 years, has already appeared in more than 30 Hollywood-produced films.
Shahal Khan, whose company – White City Ventures – is headquartered in Dubai, stated that he partnered with New York-based investor Kamran Hakim to acquire the establishment.
The transaction is set to be finalized on June 25.
The Plaza Hotel is currently managed by the French group Accor.
Source: Profit
Frequently Asked Questions
Who is buying the Plaza Hotel?
The hotel is being acquired by Shahal Khan of White City Ventures and New York investor Kamran Hakim.
What is the purchase price of the Plaza Hotel?
The iconic New York hotel is being sold for 600 million USD.
Who currently manages the Plaza Hotel?
The Plaza Hotel is currently managed by the French hospitality group Accor.