NEW YORK -- The Regent Wall Street hotel, which made a huge splash
in 1999 when it opened in a landmark building that once housed the
New York Stock Exchange, will close in January.
The owners of the upscale, 144-room hotel -- where a room will
set you back more than $500 a night and a suite costs $1,200 --
said the hotel never recovered from the travel slump that followed
The property, at 55 Wall St., provided emergency space to rescue
workers after the attacks and hosted events to help revitalize
Ultimately, the hotel could not overcome the economic impact of
9/11. Faced with occupancy as low as 10% in the aftermath of the
attacks, the hotel cut its rates by up to 50%.
Although rates have rebounded to more than $500 per night and
occupancy is at 80%, the hotel will close its doors Jan. 17. Some
200 employees will lose their jobs.
"We are grateful for the opportunities we have had to serve this
wonderful community and proud of our outstanding staff and what
they have been able to provide to our guests, neighbors and the
city itself," said a spokesman for the hotel's owners, a
partnership led by the Jones Apparel Group.
It is unclear what will become of the Greek Revival building,
which was built in 1842 by architect Isaiah Rogers and was home to
the New York Stock Exchange until 1854. The building housed the
U.S. Custom House from 1862 to 1907.
One option is to convert the hotel into residences. Another
option is to operate the hotel's 12,000-square-foot ballroom
To contact reporter Jorge Sidron, send e-mail to [email protected].