Plaza Hotel Redevelopment
Plaza Hotel came into existence in 1907; it was purchased at the cost of $12million. In 2004 El-AD properties got it for $675million. The hotel was owned by Saudi Arabian prince. The place had benefitted greatly in 2000, but it accrued pre-tax loss of $1,8 million in 2004. There was an offer for the place which the owner could not refuse and the hotel needed renovations as well. So the property exchanged hands.
El-AD got the place renovated at $400 million. It took almost three years to get the condo hotel suites, private apartments and rooms etc. renovated. To protect the hotel and jobs in the hotel, the many condominiums were changed into hotel rooms. Many rooms were sold at a later date as private apartments. They were bought by people who could afford gold fixtures in their homes. The renovations have spurred the locals to anger. People call the place a cheap and fictitious replica of the historical hotel. Complains are regarding cheap material being used for renovation, many say the interiors have signs of degradation, there is leakage problem, damaged furnishings, bad availability of running water.
Since the hotel reopened the owner has been fighting against the locals and the buyers of apartments on different issues. The whole project has become controversial. Many re-sales have taken place, of the sold apartments at much lower rates. This has affected the reputation of the hotel and its owner in the long run. The famous fabled Palm Court restaurant and the Oak room were closed for renovation purposes.
The hotel is outshining the others with its offer of well priced dining menu, its modern elegant dining places. It has withstood all the negative rumors and is offering pleasurable stay to its visitors. People enjoy their drink among the exotic surroundings. The Rose Club and the Champagne bar are hosting with their reputed hospitality towards the guests. Butler service is provided on each floor.
The underground shopping mall is a great opportunity to have shopping sprees within the hotel premises. The fabulous boutiques offer a vast variety of choice in apparels.
The ballroom high lightens the bygone era in its beautiful décor; the Terrace room has all its attraction back.
The traditional covers the modern throughout the hotel. The old world charm is retained by the grand plaza along with all modern amenities. That is the best offer that the hotel is working hard at providing. The charm of the Plaza is there in full splendor. The twenty storied building is truly grand in size. It is a jewel of Manhattan.
