The Algonquin Hotel Sold Again

The Algonquin Hotel Sold Again

You may have heard of the Algonquin Hotel in New York City.  Made famous by literary gatherings (think Dorothy Parker and her round table), cabaret singers, and The New Yorker magazine, the hotel is a Big Apple classic.  It opened back in 1902 and there are no signs it will be closing any time soon.

The building has undergone two major renovations over the years – once in 1998 and then again in 2004.  However, these hotel renovations stayed true to the legendary status of the hotel itself, as you can see just by walking through its ornate doors.  The posh hotel has 174 rooms and is the epitome of classy layouts.

Though the renovations were completed a few years ago, the Algonquin is once again making news.  HEI Hotels & Resorts bought the hotel back in 2004 but just recently sold it to Cornerstone Real Estate Advisors, a Hartford, Connecticut company.  Despite this new development, HEI will continue to run the hotel.  Reportedly, Cornerstone paid an upwards of $76 million for the landmark.

This is the fourth time in 15 years that the Algonquin has changed hands.

Though the Algonquin is known for its top-notch rooms and cutting edge amenities all wrapped up in a classic design, the biggest draw of the hotel may very well be Matilda – the cat.  Legend has it that near the end of the 1930s, a disheveled little feline wandered in and much to her great luck, owner Frank Case welcomed the cat in.  And that night, a great tradition was born.

Jon Huser.