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BREAKING: Plaza Hotel 'Saved,' Sort Of

And peace came across the land. Elad Properties, the new owners of The Plaza Hotel, have agreed to increase the number of hotel rooms (to 348 from 150) and downsize their condo conversion plans (to a piddling, um, 150 units) in a tentative deal announced today. (The hotel's public spaces, including the Oak Room and Palm Court, will also be preserved.) The Associated Press captures the joy on the scene:

The deal was announced at a pep rally/press conference, where Elad head Yitzhak Tshuva shook hands with hotel employees who celebrated a man they were angrily denouncing just 24 hours earlier. "Glad to see you!" shouted one grinning worker, patting Tshuva on the shoulder.Someone even admitted to kissing Bloomberg. Anyone on the scene at this neo-Woodstock care to share some stories? Seriously, how was the acid?
· Deal reached between union, Plaza Hotel owners [AP via Newsday]
· Eloise to Remain at Plaza! [HotelChatter] After the jump: a random press release from the tourist board!

STATEMENT BY NYC & COMPANY PRESIDENT CRISTYNE L. NICHOLAS ON THE PLAZA HOTEL AGREEMENT

New York, NY (April 14, 2005)