NEW YORK— Elad Properties, the new owner of the Plaza Hotel here, and the leadership of the Local 6 union, have reached an agreement that will preserve and guarantee jobs for about 350 hotel employees. The number of jobs is more than double the amount originally called for in reaction to news that Elad would be converting most of the Plaza into a condominium. Through this agreement, the Plaza will eventually have about 350 hotel rooms, which is also more than double the amount that Elad originally was going to reduce the room count down to following the upcoming renovations. Furthermore, the Plaza’s public spaces, including the Grand Ballroom and Palm Court, will also be retained and used as they always have been. The Plaza’s renovations are expected to begin on April 30. The hotel will then reopen in late 2006 as a five-star hotel with luxury condos and retail space. When it does reopen, and hotel staff positions are filled, current employees will be given hiring priority first.
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