Hotel Sales to Chinese Investor 7/19

Hotel Sales to Chinese Investor 7/19


St. Regis Hotel

Eight years after the hotel opened, John Jacob Astor perished in the sinking of the RMS Titanic. Astor’s son Vincent inherited the hotel and sold it to Benjamin Newton Duke.

In 1927, the Dukes added a new wing designed by Sloan & Robertson to the hotel on the east end, along 55th St. The wing nearly doubled the size of the hotel to 550 rooms, added a rooftop ballroom/nightclub, and increased the height to 20 stories.

In 1932, the iconic “Old King Cole” painting by Maxfield Parrish, which had been created for Astor’s defunct Knickerbocker Hotel, was moved to the St. Regis and made the centerpiece of a new bar, the King Cole Bar, which has remained a New York institution ever since. Two years later, in 1934, bartender Fernand Petiot invented a drink there which he called the “Red Snapper”. It has since become known around the world as the Bloody Mary.

In 1935, in the depths of the Great Depression, Vincent Astor bought the hotel back from the Dukes and set about remodeling it and restoring its reputation as New York’s most elegant hotel.

 

Post-Astor period

Vincent Astor died in 1959 and the following year the hotel was sold to Mexican hotel mogul Cesar Balsa. The hotel was named a New York landmark in 1965. After quickly going through three additional owners in the early 1960s, Sheraton Hotels finally purchased The St. Regis in February 1966, renaming it The St. Regis-Sheraton. They completely remodeled the hotel in 1977 and then closed it in 1988 for an even more thorough restoration. The hotel reopened in September 1991 as The St. Regisagain, transformed at a cost of over $100 million into one of the most luxurious hotels in the world.

 

Flagship of a new chain

Starwood Hotels bought Sheraton in 1998 and soon after decided to use the St. Regis name to launch a new brand of hotels. The St. Regis was made the flagship of a new line of St. Regis Hotels & Resorts, ultra-luxury establishments in major cities and resort destinations around the globe. At this time, the original hotel’s name was changed slightly to The St. Regis New York, to differentiate it from the numerous other St. Regis Hotels in the new chain.

 

Recent changes

The hotel’s eighth and ninth floors were converted to The St. Regis Residences in 2006. The residences consist of 24 full-ownership condominiums and 24 “fractional” ownership timeshare condominiums.

The entire hotel was renovated in 2013 at a cost of $90 million. The work, designed by HDC Design and Stone Hill Taylor Architects, involved the gut renovation of all hotel rooms and most public spaces, and added a new restaurant and gym.

 

Famous residents

The hotel has always had a number of permanent residents, as well as transient guests. Throughout the 1960s and 1970s, the artist Salvador Dalí and his wife Gala famously lived at the hotel every fall and winter. In addition Marlene Dietrich and William Paley and his wife Babe maintained apartments there. In Donald Spoto’s biography of Alfred Hitchcock, The Dark Side of Genius, he claims that Hitchcock stayed in “his favorite” 5th floor suite at least a dozen times. Countless celebrities have also been guests, such as John Lennon who made a demo of ‘Happy Christmas War Is Over’ in his room.

In the 1977 Broadway musical Annie, the character Lily St. Regis claims to be named after the hotel, to which the orphanage headmistress Miss Hannigan replies: “Which floor?”

 

United States

North America

California
Dana Point – The St. Regis Monarch Beach
San Francisco – The St. Regis San Francisco
Colorado
Aspen – St. Regis Residence Club, Aspen
Aspen – The St. Regis Aspen Resort
District of Columbia
Washington – The St. Regis Washington, D.C.
Florida
Bal Harbour, Miami Beach – The St. Regis Bal Harbour Resort
Georgia
Atlanta – The St. Regis Atlanta
New York
New York – The St. Regis New York
Texas
Houston – The St. Regis Houston
Utah
Park City – The St. Regis Deer Valley
Hawaii
Kauai – The St. Regis Princeville Resort

Mexico

Federal District – The St. Regis Mexico City
Puerto Rico
Rio Grande – The St. Regis Bahia Beach Resort, Puerto Rico
Nayarit
Punta de Mita – The St. Regis Punta Mita Resort
Quintana Roo
Puerto Juarez – The St. Regis Kanai Resort, Riviera Maya – Opening January 1, 2018
(Not Bookable Yet)
Africa

Egypt

Cairo – The St. Regis Cairo – Opening October, 2016

Mauritius

Le Morne – The St. Regis Mauritius Resort
Asia Pacific

China

Beijing – The St. Regis Beijing

Shenzhen, Guangdong – The St. Regis Shenzhen
Zhuhai, Guangdong – The St. Regis Zhuhai – Opening June 30, 2017
Guiyang, Guizhou – The St. Regis Guiyang – Opening January 1, 2022
Haikou, Hainan – The St. Regis Haikou – Opening January 1, 2020
Sanya, Hainan – The St. Regis Qingshui Bay Resort- Opening December 31, 2017
Sanya, Hainan – The St. Regis Sanya Haitang Bay Resort- Opening January 1, 2020
Sany Yalong Bay – The St. Regis Sanya Yalong Bay Resort
Changsha, Hunan – The St. Regis Changsha – Opening September 30, 2016
Nanjing, Jiangsu – The St. Regis Nanjing – Opening January 1, 2018
Qingdao, Shandong – The St. Regis Qingdao – Opening January 1, 2021
Shanghai – The St. Regis Shanghai Jingan – Opening January 1, 2017
Chengdu, Sichuan – The St. Regis Chengdu
Tianjin – The St. Regis Tianjin
Lhasa, Tibet (Xizang) – The St. Regis Lhasa Resort
Lijiang, Yunnan – The St. Regis Lijiang Resort – Opening June 30, 2017
Cotai – The St. Regis Macao, Cotai Central- Opened  December 17, 2015
Kuala Lumpur – The St. Regis Kuala Lumpur – Opening May 1, 2016
Langkawi – The St. Regis Langkawi – Opening April 6, 2016
Singapore
Bangkok – The St. Regis Bangkok

Turkey

Istanbul – The St. Regis Istanbul

French Polynesia

Bora Bora
Maldives
Vommuli – The St. Regis Maldives Vommuli Resort- Opening September 1, 2016
Europe
Florence – The St. Regis Florence
Rome – The St. Regis Rome
(Not Bookable Yet)

Russian Federation

Moscow – The St. Regis Moscow Nikolskaya

Spain

Mallorca – The St. Regis Mardavall Mallorca Resort

Middle East

Jordan

Amman – The St. Regis Amman – Opening June, 2017

Qatar

Doha – The St. Regis Doha

United Arab Emirates

Abu Dhabi – The St. Regis Abu Dhabi
Abu Dhabi – The St. Regis Saadiyat Island Resort, Abu Dhabi
(Not Bookable Yet)
Dubai – The St. Regis Dubai – Opened  November 15, 2015

Dubai – The St. Regis Dubai, Al Habtoor Polo Resort & Club – Opening March, 2017