Renovation Update

An article released by The New York Post says that Vornado is still planning on renovating the hotel, NOT demolishing it, and they seem pretty motivated.  This is good news, but there are still nothing but vague details on what the renovations will be.  Below is an excerpt from the article regarding the hotel:

“…Vornado is also renovating the Hotel Pennsylvania, which Roth called ‘the singular most important focus of our portfolio’, disclosing efforts to upgrade its lobby, restaurants and nightlife…”

Source: The New York Post, May 26, 2013