Published on Thursday, July 5, 2018

Qatar group to buy iconic New York hotel

After years on the market, the New York Plaza Hotel is set to finally get a new owner.

Qatar's state-owned Katara Holding is reportedly buying the iconic property for a reputed $600 million, according to a source cited by Reuters.

India-based Sahara has been trying to offload its 75% stake in the Plaza for years.

The sale would mark the largest investment in a western hotel asset by a Qatari entity.

Landmark hotels including The Savoy and The Connaught in London are under Qatari ownership.

Neither Katara nor Sahara have confirmed or denied a deal is imminent.

The hotel, which has featured as a location in a number of major Hollywood movies, was once owned by Donald Trump.

Trump tied the knot with now ex-wife Marla Maples there in 1993.

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