It is with an extremely heavy heart that we report Hotel Pennsylvania has closed — and the decision may be permanent. Vornado CEO Steve Roth has reported the building has temporarily closed because of the virus hurting occupancy rates.
He said the following:
“The Hotel Pennsylvania has been an enigma for a long time. It’s obviously a parking lot for a development site. We’ve closed it in the pandemic because the occupancy rates went down to low teens, single digits. So it was uneconomic. We have thought internally about using this and just never reopening it. And that might happen, but I doubt it.”
This was the hotel’s 101st year operating.