Inside the White House with D.C.'s most wired reporter. Sign up for Mike Allen's Axios AM.


New York's Plaza Hotel, formerly owned by Trump, now belongs to Qatar

The Plaza Hotel.
The Plaza Hotel. Photo: Ben Hider/Getty Images

Qatar has agreed to purchase New York's famous Plaza Hotel — previously owned by President Donald Trump — for roughly $600 million, Reuters' Dmitry Zhdannikov reports.

The big picture: This is the largest investment from Qatar in Western property since its Gulf neighbors initiated a blockade on the small country last year. And according to per Zhdannikov, Qatar has been on a spending spree of "top hotels and luxury properties in the West" as it seeks to "diversify the wealth it accumulates from gas and oil exports." The Qatar-owned Katara Holding is purchasing full ownership of the Plaza, which will include a 75% stake from Sahara India Pariwar, an Indian business group.

More stories loading.