I recently stayed in the Plaza for the first time in 5 years. The hotel continues to offer a good level of facilities and service but at a price. Accomodation was good but rate of 140 euros per night was excessive, especially as breakfast was another 15 euros. Drinks, snacks and meals within the hotel were also very costly - 25 euros for 3 small beers as an example. I am not sure if these rates are typical of Istanbul but seem much more expensive than I would pay for similar facilities in many other cities. One great point about this hotel is the top floor bar which gives incredible views over Istanbul both during daytime and at night.
I stayed at the Plaza on a few occasions when I came up from Bursa for meetings or random other visits. The Plaza is a nice 5-star place, with all the bells and whistles.
However, I found the Plaza a bit less crowded and busy as the other big hotels (like the Marriott, Hilton, etc). Therefore I always found the staff friendlier and more willing to give a personal touches.
The hotel is located in central parts and is easily accessible to all areas of the city.
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Address: Barbaros Bulvari 137, Istanbul, Turkey