New York City’s once seemingly indomitable hospitality industry sustained another blow this week when the owners of the historic Roosevelt Hotel, a 96-year-old Midtown institution, announced that the 1,025-room hotel will cease operations on Oct. 31.
Named for President Theodore Roosevelt, the hotel opened in the fall of 1924, and its Italian Renaissance façade of chiseled marble and limestone has been an unchanging fixture of the Manhattan streetscape ever since. In a city filled with sleek new hotel towers, the Roosevelt was a favorite of locals and tourists alike because much of its interior remained unchanged, too. The “Grand Dame of Madison Avenue,” as some have called the hotel, has served as a backdrop for many films including The French Connection, Malcolm X and the 2017 Netflix series Wormwood. Gordon Gekko’s infamous “Greed is good” speech from the 1987 film Wall Street was shot in the Roosevelt’s ballroom.