Preservation and Rehabilitation

Abstract

A look at nine New York City hotels shows a host of reasons for investing in renovation, preservation, and creative new construction. The hotels considered are: the Algonquin, the Drake, the Empire, Loews New York, the Embassy Suites Times Square, the Essex House, Sheraton Hotel and Tow- ers, Sheraton Manhattan, and the St. Regis. Some of these properties closed for months or years to renovate, while others scheduled construction around day-to-day operations. The Essex, Loews, and St. Regis chose to reduce the num- ber of guest rooms in favor of larger ones while the Sheraton Towers added floors and rooms. All the hotels upgraded their amenities for business travelers, including the traditionally residential Drake and the artful Empire. In every case, the hotels looked for a hook on which to hang their identity: the Loews, for instance, has been positioned as an athletes' haven while the Algonquin continues to bank on its reputa- tion as home to the Round Table.