[6] The Plaza was developed by local landowner and banker Ernesto Tornquist, in anticipation of the crowds of tourists expected for the 1910 Argentina Centennial celebrations.

[7] Facing San Martín Square, the nine-story hotel was designed by German born architect Alfred Zucker and built at the northern end of Florida Street.

Marble sculptures by Gustav Eberlein of Germany and ceiling frescoes by Julio Vila y Prades of Spain added to its decor.

The hotel was completely remodeled in 1934, with much of the elaborate exterior ornamentation removed and the interiors redone in the Art Deco style.

Between 1942 and 1948 a large annex was constructed in the rear, along San Martin, designed by architects Carlos Alfredo Rocha and Enrique Martínez Castro.

Further expansion by architects Clorindo Testa and Héctor Lacarra in 1977,[7] in preparation for the 1978 FIFA World Cup, brought the number of rooms to nearly 400.