Schrager closes Public hotel amid coronavirus outbreak

The hotelier called it “one of the hardest things I have had to do in my entire career”

New York /
Mar.March 23, 2020 08:22 PM

215 Chrystie Street (Credit: HFZ Capital Group)

 Hospitality icon Ian Schrager said he just made one of the most difficult decisions of his career. 

Schrager is shutting the doors to his trendy downtown Public hotel until the coronavirus pandemic subsides, he announced on the hotel’s website Monday.

Schrager wrote it was “an agonizing decision for me and one of the hardest things I have had to do in my entire career.”

“In this case, closing is the most ethical, moral and humane thing to do in order to contain this illness and protect everybody,” he added. 

Schrager could not be immediately reached for comment, but in an interview with the Wall Street Journal earlier this month he said occupancy at the 367-room hotel on the Lower East Side had dropped by 50 percent. The 28-story building, designed by Herzog & de Meuron, also has 11 luxury condos and was refinanced last March.

Other hotels in the city have closed their doors as New York has gone into a virtual lockdown in order to slow the spread of Covid-19.

Hilton closed its 1,878-room Midtown location near Rockefeller Center, and the luxury  Baccarat Hotel on West 53rd Street has temporarily closed.

The New York Hotel Trades Council last week said roughly half of its 40,000 members have been laid off.

Contact Rich Bockmann at [email protected] or 908-415-5229.


Related Articles

arrow_forward_ios
Carpenter & Company's Richard Friedman and 2 Canal Street in New Orleans (Carpenter & Company, Google Maps)
New Orleans Four Seasons lands $315M loan from Madison Realty Capital
New Orleans Four Seasons lands $315M loan from Madison Realty Capital
120 East 39th Street (Hotels, Getty)
Short-term rental company taking over Midtown hotel
Short-term rental company taking over Midtown hotel
(Photo Illustration by The Real Deal with Getty Images and Americasroof at English Wikipedia, CC BY-SA 3.0 - via Wikimedia Commons)
Chinese firms bailing on US commercial market
Chinese firms bailing on US commercial market
711 Beach Avenue in Cape May, New Jersey and Icona president Eustace Mita (Google Maps, Drexel University)
Luxury brand planning $150M hotel in Cape May
Luxury brand planning $150M hotel in Cape May
The Gregory Hotel in the Garment District (Google Maps, Illustration by The Real Deal with Getty)
Booze bandits: Restaurant claims Gregory Hotel owners stole liquor
Booze bandits: Restaurant claims Gregory Hotel owners stole liquor
Sydell Group's Andrew Zobler and rendering of proposed dorm for Bard College students (LinkedIn, Sydell Group)
Sydell launches Brooklyn hotel with dorms for Bard students
Sydell launches Brooklyn hotel with dorms for Bard students
Related Companies founder Stephen Ross and 33 Hudson Yards (Getty Images, LoopNet)
Related eyeing sale of Equinox Hotel
Related eyeing sale of Equinox Hotel
Mayor Eric Adams and 700 Eighth Avenue (Google Maps, LoopNet)
Midtown’s Row hotel to house up to 600 migrant families
Midtown’s Row hotel to house up to 600 migrant families
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...