The Qatar Investment Authority's hotel division, Katara Hospitality, has acquired New York City's iconic Plaza Hotel.
According to Bloomberg, the $600 million transaction was completed Monday.
Sources with knowledge of the deal told the publication that Katara acquired 100 percent of the historic property from majority owner, Sahara India Pariwar, as well as minority owners Ashkenazy Acquisition Corp., Kingdom Holding Co., and Sant Singh Chatwal.
AccorHotels' Fairmont Hotels & Resorts brand will continue to manage the hotel, which has famously appeared in movies such as "Home Alone 2" and "Scent of a Woman."
"The Plaza's legacy of renowned luxury, incomparable service, and timeless elegance will continue," AccorHotels spokeswoman Sandra Pinto Duhamel told Bloomberg.
The Manhattan property went on sale last year and was expected to be among the most expensive hotel sales on a per-room basis. The hotel's famed Astor Suite also went on sale in 2017.
In addition to India-based Sahara Group, previous owners of the Plaza Hotel include Hilton founder Conrad Hilton and President Donald Trump.
Opened in 1907, the Plaza Hotel was designated a National Historic Landmark in 1986. Notable guests over the past century-plus have included The Beatles and actress and singer Marlene Dietrich, among others.
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