Word: tisch
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Dates: during 1960-1969
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EVERY hotel in New York is obsolete. The city is crying out for new hotels." So says Laurence Tisch, 37, the liveliest and fastest-moving young man in the U.S. hotel business...
With his brother Preston Robert Tisch, 34, Larry Tisch has run up a $65 million fortune in real estate, mostly by building, leasing and selling hotels from Florida to New York. Now, as chairman of Loew's Theaters Inc. (no theaters), he is moving the sluggish old theater chain into new real estate ventures-beginning with some changes in the Manhattan skyline...
...good measure, Tisch is also building two luxury motels on Eighth Avenue in midtown Manhattan, a third in Washington, D.C. If his new hotels live up to his standards, they will be lighter, gayer and more modern than most, will not try to ape foreign hotels. "An American waiter in a French-style hotel," says Tisch, "just doesn't look authentic...
...another $1,500,000 went to Toots Shor, whose sporty restaurant on the site came tumbling down. By this spring the estimated cost of the hotel had risen to $80 million, but Zeckendorf was still $35 million short. He scurried around trying to interest Hotelman Laurence Tisch and the Sheraton and Hilton hotel chains in bailing him out. All said no: construction and rental costs for the site were too high to make a hotel...
...Tisch Hotels Inc.) bought stock control last year. New 21-story, 800-room hotel is scheduled for fall of 1961, will be New York City's first major new hotel in 29 years...