The Plaza Hotel at New York City - Case Study Example

The original model of this hotel was changed after being renovated. When this hotel reopened in 2007, it was its 100th anniversary. It had undergone refurbishment at a cost of 4400 million. The internal structure and model of the hotel was changed from the original model to a newer model. Originally, when this hotel was constructed, it contained 805 rooms, 500 bathrooms, 10 elevators, a palm court with a Tiffany leaded glass-domed ceiling, large private suites, and a two-story ballroom. However, on its re-opening in 2007, it had 282 guestrooms and 181 apartments (Turkel, 2010).

This hotel is also associated with historical events in New York. For instance, important political meetings in history were held at the Plaza Hotel. The Beatles, on their first visit to the USA, stayed in the plaza hotel, in February 1964. In addition, the Plaza Hotel hosted Katherine Graham and Truman Capote’s “Black and white” in the grand ballroom on 28 November 1966. Most importantly, in 1985, leaders of different developed countries converged at the Plaza Hotel to brainstorm financial global issues.

It is while here that these political leaders signed the Plaza Accord after them reaching an agreement. These finance leaders were mainly from West Germany, France, Britain, the United States, and Japan. The main agenda of the meeting was to agree on ways of lowering the price of the US dollar against the currencies of other nations.The Plaza hotel has in the past accommodated a variety of famous people. These include performers, famous guests, and movie stars. For instance, those known to have visited include Elizabeth Taylor, Clara Bow, the Beatles, Cary Grant, Scott Fitzgerald, Marilyn Monroe, George Cohan, among others.

These are famous authors, and actors in the world (Hession & Pickrel, 2007).The Plaza hotel is considered an oasis of culture. It has managed to sustain and enhance the culture of New Yorkers through the numerous services it offers. It, however, adds a touch of modernity to the New York culture, amid the bustling metropolis. Plaza’s five-star service is its tradition of luxury definition. It offers shopping facilities, a fitness and wellness center, a champagne bar, restaurants, meeting rooms, ballrooms, among others.

All these facilities enhance the culture of New Yorkers, as they are a definition of the day-to-day activities of people living in New York (Turkel, 2010).The Plaza Hotel also relates to the history and development of New York in various ways. Historically, this hotel was established in 1907, thereby ranking as the oldest hotel in New York. This means that it has equally shared most of the history of New York, be it in political aspects or economic aspects. The historical events of New York, therefore, had an impact on the hotel operation.

This hotel has also positively contributed to the development of New York’s economy. Most economists consider it a treasure and trophy to New York. Being such a big hotel, it is an important player in the capital markets of New York, thereby making it a contributor to the economic development of New York (Turkel, 2010).