Elad re-thinks Plaza plan.Elad Properties El-Ad Properties is a real estate developer based in New York City, with extensive holdings in the United States, primarily New York City. The company is owned by El Ad Group, based in Israel. , owner of The Plaza Hotel The Plaza Hotel in New York City is a landmark 19-story luxury hotel with a height of 250 feet (76 m) and length of 400 feet that (122 m) occupies the west side of Grand Army Plaza, from which it derives its name, and extends along Central Park South in Manhattan. , and the leadership of Local 6 reached an agreement this week that preserves and guarantees jobs for approximately 350 hotel employees--more than double the number previously called for--and that preserves The Plaza's public spaces, including the Grand Ballroom
A ballroom is a large room inside a building, the designated purpose of which is holding formal dances called balls. and Palm Court, as well as their current uses. "We are committed to spending $350 million so that the treasured landmark Plaza Hotel will continue to serve, delight, house and entertain New Yorkers and visitors from around the world for another 100 years," said Miki Naftali, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Elad Properties. As a result of the agreement, The Plaza For the hotel in New York City, see . Plaza (IPA /'plaθa/ or /'plasa/ will retain approximately 350 hotel rooms--more than double the initially projected number. The agreement guarantees that when the new hotel positions are filled, current employees will be given priority. Renovations will begin on April 30. The restored Plaza is slated to open in late 2006 as a five-star hotel with luxury condominiums residences and high end retail space. |
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