Report: The Plaza for Sale

JLL brought in to seek buyer for famed NY hotel

The majority owner of The Plaza hotel has hired a broker to sell the New York landmark, The Wall Street Journal reports. India-based Sahara Group has enlisted JLL Hotels and Hospitality Group to find a buyer, according to the business newspaper. Though an asking price was not disclosed, hotel investors and brokers told the Journal the 110-year-old property would likely fetch more than $500 million.