New York City's iconic Plaza Hotel is on the market, according to the Wall Street Journal.
The Sahara Group, which owns the landmark property, has reportedly called on JLL Hotels and Hospitality Group to find a buyer.
Sources familiar with the situation tell the Journal that those with interest in acquiring the hotel include a Qatari sovereign-wealth fund, a Shanghai municipal investment fund and rapper-producer Pras Michel.
While it's unclear exactly how much money the property could fetch, industry experts and analysts say it has the potential to be among the most expensive hotel sales on a per-room basis, according to the Journal. Therefore, it's possible the hotel could sell for as much as $560 million.
India-based Sahara Group purchased a 75 percent stake in the Plaza Hotel back in 2012. At the time, the hotel was valued at approximately $575 million.
The Plaza Hotel is also less than a decade removed from a $400 million refurbishment.
Prior to the Sahara Group, previous owners of the famed Plaza Hotel included Hilton founder Conrad Hilton and President Donald Trump.
[READMORE]READ MORE: Now Is Your Chance to Live at Iconic The Plaza Hotel[/READMORE]
The rumors of a potential sale come just two weeks after several employees at the hotel filed a sexual harassment lawsuit against the Sahara Group and the hotel's operator, Fairmont Hotels & Resorts, accusing both ownership and management of forcing female employees to endure a "rape culture."
It remains to be seen whether the suit will impact the potential sale.
For the latest travel news, updates and deals, subscribe to the daily TravelPulse newsletter.
Topics From This Article to Explore
