After 42 years of activities, the Maksoud Plaza hotel closed its doors this Tuesday (7) in São Paulo. One of the most traditional hotels has completed its judicial reorganization process and will abandon its location close to Avenida Paulista.
According to the hotel’s press office, the brand will be maintained and should announce new developments soon.
The closing announcement was made jointly by HM Hotels, administrator of Maksoud Plaza, and Hidroservice Engenharia, controller of the hotel.
In September 2020, HM Hotels filed for judicial recovery. According to the company, in 2011, the hotel was sold in an auction by the Labor Court for the payment of labor debts, but the process was suspended. On Monday (6), there was an agreement with the entrepreneurs who had purchased the building and the process was concluded.
“The health crisis caused by Covid-19 has had a huge impact on the hospitality industries. Maksoud Plaza was closed for the first time in its history between March and September 2020. This caused losses in excess of R$ 20 million,” he said in a statement.
The statement highlighted that the hotel and tourism sector is only expected to recover from the pandemic in 2023. “The hotel’s closure takes place at an opportune moment, given the need for financial restructuring of the group to which it belongs, affected by debts inherited from extinct companies ”, he adds.
hotel history
Opened in 1979, the hotel was the first five-star hotel in the city of São Paulo.
A landmark of luxury, Maksoud Plaza has become a destination for royalty, music stars and celebrities.
It hosted Princes Rainier and Albert of Monaco, the Prime Minister of Great Britain, Margareth Thatcher, the Rolling Stones, Ray Charles, the French actress Catherine Deneuve and the Spanish director Pedro Almodóvar, among others.
In 1981, Frank Sinatra performed at the hotel’s Grand Hall.
In the 1980s and 1990s, 150 Night Club was one of the busiest venues in Brazil. Musicians such as Tom Jobim, Julio Iglesias, Bobby Short, Alberta Hunter, Etta James, Billy Eckstine, Buddy Guy and Dorival Caymmi performed at the venue.
In 2015, the Frank Bar opened and shortly after entered the list of the best bars in the world, according to World’s 50 Best Bars.
Reference: CNN Brasil
