Decoding the Ownership Mystery- Who Really Controls the Iconic Roosevelt Hotel in New York City-

Who owns the Roosevelt Hotel in New York City is a question that has intrigued many over the years. This iconic hotel, located at 45th Street and Broadway, has been a symbol of luxury and elegance since its opening in 1897. Its storied history includes hosting numerous celebrities, dignitaries, and even royalty. However, the answer to the question of ownership is not as straightforward as one might expect.

The Roosevelt Hotel has undergone several changes in ownership throughout its long history. Initially, it was owned by the Roosevelt family, after whom the hotel was named. The hotel was built by James A. Roosevelt, the uncle of President Franklin D. Roosevelt, and his business partner, Delmonico’s Restaurant owner Charles Delmonico. The hotel became a popular destination for New York’s elite, and its reputation for excellence grew rapidly.

After the death of James A. Roosevelt in 1914, the hotel passed through several hands, including the Delmonico family. In 1940, the hotel was purchased by the Hilton family, who were already prominent in the hotel industry. The Hiltons managed the hotel for several decades, making it one of their flagship properties.

In 2005, the hotel changed hands once again when it was purchased by the Blackstone Group, a global private equity firm. This marked the beginning of a new era for the Roosevelt Hotel, as the Blackstone Group embarked on a multi-million-dollar renovation project to restore the hotel to its former glory. The renovation, which was completed in 2008, included the restoration of original art, furniture, and architectural details, as well as the addition of modern amenities.

Today, the Roosevelt Hotel is owned by the Marriott International hotel chain. In 2014, Marriott acquired Starwood Hotels & Resorts Worldwide, which included the St. Regis brand. The Roosevelt Hotel was part of the St. Regis collection, and its ownership was transferred to Marriott as part of the acquisition.

Despite the changes in ownership, the Roosevelt Hotel remains a cherished landmark in New York City. Its rich history and luxurious accommodations continue to attract visitors from around the world. As Marriott continues to manage the hotel, it is expected that the Roosevelt will continue to be a beacon of elegance and sophistication in the heart of Manhattan.