August 24, 2016
Paul Foster, owner of the vacant, historic Plaza Hotel building in downtown El Paso, is ready to renovate the structure eight years after acquiring it. The catalyst for the renovation was the sale of nearby Camino Real Hotel to Stuart Meyers, which took place in July.
Foster, who heads up Western Refining, was interested in buying Camino Real from Grupo Empresarial Angeles, but could not come to an agreement with the Mexican conglomerate. Foster indicated that the Camino’s future would determine the Plaza Hotel’s remodel. Plaza is at 106 Mills Ave.
Meyer and partner Richard Aguilar announced a $70 million renovation plan for the Camino Real. Meanwhile, a specific plan for the Plaza Hotel should come by the 4th quarter of this year,” Foster said.
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