Royalton Hotel
The hotel was originally a residential apartment hotel and was developed between 1897 and 1898. For most of the 20th century, the Royalton operated as an apartment hotel; due to its proximity to Times Square, the hotel housed many figures in the entertainment industry. A group including Philip Pilevsky, Arthur G. Cohen, Ian Schrager, and Steve Rubell bought the Royalton in 1985 and renovated it into a boutique hotel. The Royalton reopened in October 1988 and quickly became popular, with critics largely praising the new design. The Morgans Hotel Group (MHG) operated the Royalton for over two decades and renovated it again in 2007.