The new owner of the Plaza Hotel (Sutton Group) in Buenos Aires has paid $5 million termination penalty to Marriott to terminate the management agreement that the previous owner had. You can read more about this on Spanish website here.
Marriott Plaza is an iconic hotel in Buenos Aires that is in desperate need of renovation. I have stayed there several times and last time in July/August in 2012.
The hotel was built in 1909 and all the rich and famous stayed there during the heyday of the hotel.
Last time at the Marriott Plaza, I got the Founder suite, where US presidents and i.e. Gandhi had previously stayed at. You can see my walk through of this suite on the YouTube video above.
It seems that the termination of the management agreement will also lead the hotel to drop its Marriott brand and withdraw from the chain. I believe that this iconic hotel would be a good fit for Marriott’s Autograph collection once the restoration has been finished.
This is the only Marriott affiliated property in Buenos Aires. If Plaza hotel drop its Marriott affiliation and Marriott is unable to sign up another property under any of their brands, it would be quite a hole in Marriott South American coverage for not to have a property in Buenos Aires.