4/14/2005

Staff from New York Mayor Michael Bloomberg's office met with representatives of the hotel and the hotel union representing 900 members this week, trying to work out a compromise on plans to convert part of the historic hotel into luxury condominium units. The sides are struggling to preserve the hotel's public spaces, retain an ample number of hotel rooms, and provide owner Elad Properties with enough condos to make a profit from its planned $1 billion investment.

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