News
PLAZA HOTEL TRADES AGAIN
November 28, 2012
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| 20 years ago, Hollywood brought us Home Alone 2: Lost In New Yorkin which main character Kevin McCallister stays in the Donald Trump-owned Plaza Hotel. Three years later, Trump sold it to Saudi Prince Alwaleed bin Talal, then El Ad Properties purchased its interest in 2004. Now the famed building has traded hands again: yesterday,Sahara India Pariwar closed its previously announced purchase of a 75% interest—El Ad’s position—for $575M, which includes 230 hotel rooms and retail space (the prince's Kingdom Holding Co will retain its 25% stake). Solid Rock Advisors consulted the seller, while Fairmont Hotels & Resorts will continue as operator. Among other famous movies filmed there: Barefoot in the Park, Arthur, Crocodile Dundee, and North By Northwest. |
