One-time demolition target Hotel Pennsylvania continues to line landlord Steve Roth's pockets, giving him even more reason to hang on to the old McKim, Mead & White-designed lodge. Quarterly figures released this week by Mr. Roth's Vornado Realty Trust show the historic hotel generating even more revenue than last year -- a total of nearly $30 million so far through the first nine months of 2008.

That's about $5 million more than it made over the same timeframe in 2007, when the hotel ultimately netted $37.9 million.  read more »

MTV is sponsoring a contest to promote the upcoming action film Max Payne starring Mark Wahlberg--and talk about the perfect setting for a gritty cop-movie gimmick!

"To celebrate the release of this slick new thriller, MTV is giving one lucky winner and a friend an NYPD trip to New York City. You’ll get flights, two-nights accommodation at the luxurious Hotel Pennsylvania..."

What, you were expecting the posh Hotel Carter?

Now, MTV wasn't around during the Swing Era, but has Kurt Loder and company bothered to peek inside the old Glenn Miller hangout recently?

(Read The Observer's extensive coverage here.)

"Save The Hotel" activist Gregory Jones once took issue with my use of the term "fleabag" to describe the dowdy would-be landmark on Seventh Avenue.

But, come on, luxurious?

After months of talk about demolishing the historic Hotel Pennsylvania to make way for a soaring office tower, landlord Vornado Realty Trust has acknowledged that it might just hang on to the McKim, Mead & White-designed, Dave Barry-panned, so-called "World's Most Popular Hotel," after all.

"First off, it is doing damn well as a hotel," Vornado CEO Steven Roth said Tuesday during a conference call with investors.

Indeed, the 1,700-room lodge that Vornado previously described as "a placeholder, sort of like a parking lot," brought in nearly $38 million in 2007, as The Observer earlier reported. (That's $10.5 million more than in 2006.)

Imagine how much the run-down hotel might make after a significant renovation, which Vornado is now apparently considering.  read more »

With Merrill Lynch staying put downtown and plans to redevelop Penn Station in flux, Vornado CEO Steven Roth may not know what to do with the Hotel Pennsylvania--a building the company once described as "a placeholder, sort of like a parking lot."

In the meantime, the historic lodge continues to make his company some big bucks--netting roughly $37.9 million last year.

That's $10.6 million more than in 2006, according to the company's latest filing with federal regulators, which further added, "This property continues to trend higher in 2008."

With revenues on the rise, does it still make sense to raze it?

At least one preservation group is speaking up on behalf of the endangered Hotel Pennsylvania.

The Historic Districts Council (HDC) has formally asked the Landmarks Preservation Commission to hold a hearing on proposals to protect the old McKim, Mead & White-designed hotel, which owner Vornado Realty Trust has threatened to demolish.

   read more »

You knew it was over when several panelists started singing the old familiar melody to Glenn Miller's "Pennsylvania 6-5000."

A resolution to protect the historic Hotel Pennsylvania from demolition is on its way to the Landmarks Preservation Commission after local Community Board 5 voted 21 to 8 on Thursday night to preserve the circa-1919, 1,700-room hotel across from Madison Square Garden.  read more »