Word: helmsley
(lookup in dictionary)
(lookup stats)
Dates: during 1970-1979
Sort By: most recent first
(reverse)
...costs and the business recession have driven many New York hotels into the red. In the first three months of 1971, their occupancy rate sank to 65%, the lowest in eight years. One of the few hoteliers who remains undaunted by that gloomy statistic is Real Estate Operator Harry Helmsley. This month he boldly opened Manhattan's first new hotel since 1965: the Park Lane, a $30 million tower overlooking Central Park...
Snob Appeal. Helmsley's gamble on the Park Lane is all the more remarkable because it ignores the hotel industry's growing reliance on conventions and banquets as a primary source of revenue. Like its older Manhattan neighbors, the Plaza, St. Regis-Sheraton and Pierre, the elegant Park Lane is designed mainly to lure well-heeled individual travelers, whether they are in New York for business or pleasure. Helmsley spent nearly $50,000 for each room, many of which are lavishly decorated with original paintings. Overnight rentals vary from $32 for a single...