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
Warehousing, construction notch November job gains
Warehousing, construction notch November job gains
Warehousing, construction notch November job gains
(Facebook via The Palms Hotel Fire Island)
Fire (Island) sale: Palms Hotel hits the market
Fire (Island) sale: Palms Hotel hits the market
Trump International Hotel D.C. and Donald Trump (Getty, Trump Hotels)
Trump could profit $100M in DC hotel sale
Trump could profit $100M in DC hotel sale
Dave Grutman and Jeffrey Soffer
WATCH: Jeffrey Soffer and Dave Grutman talk hospitality post-Covid and branching into Vegas
WATCH: Jeffrey Soffer and Dave Grutman talk hospitality post-Covid and branching into Vegas
NYC hotels hoping for holiday business swell likely to be disappointed
NYC hotels hoping for holiday business swell likely to be disappointed
NYC hotels hoping for holiday business swell likely to be disappointed
New York City has largely regained residents who fled in the pandemic
New York City has largely regained residents who fled in the pandemic
New York City has largely regained residents who fled in the pandemic
(iStock/Illustration by Kevin Rebong for The Real Deal)
Moves hit 73-year low despite so-called pandemic migration
Moves hit 73-year low despite so-called pandemic migration
Brookfield weighs $1.5B hotel portfolio sale
Brookfield weighs $1.5B hotel portfolio sale
Brookfield weighs $1.5B hotel portfolio sale
arrow_forward_ios

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

Loading...