Vikram Chatwal to take over Plaza Hotel.
The Plaza Hotel on Fifth Avenue is close to getting new fashionable partners. Sources tell Page Six exclusively that hotelier Vikram Chatwal is nearing a deal to take over the historic hotel and bring in designer Tommy Hilfiger and restaurateur Sean Largotta
as partners.
We hear billionaire Chatwal is taking a 30 percent stake
in the 105-year-old landmark, and is said to be looking at Hilfiger, who
lives in The Plaza with his wife, Dee, and Largotta,
whose properties include The Windsor and clubby watering holes The Lion
and Crown, to partner on the famed Oak Room.
In July, former Plaza owner
the Elad Group sold its 70 percent stake in the hotel to the
Indian-based Sahara Group for close to $600 million. The Sahara Group
also bought an 85 percent stake in the Dream Downtown hotel last spring
from Chatwal’s father, Sant Singh Chatwal.
Vikram
Chatwal told us last night, “The deal will close in the next couple of
weeks. There have been a lot of changes at The Plaza over the years and
we want to restore the history and the cultural symbolism of this
treasure of New York real estate.” The Chatwals still manage the Dream
and sources say talks are ongoing with Fairmont, which currently manages
The Plaza, for the Chatwals to take over management once the deal is
done.
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