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THEY ARE UNAPOLOGETICALLY EXPENSIVE, old-fashioned in their formality and obsequious to a fault.
Yet, with the shuttering of the Plaza and its planned transformation into a residence and smaller hotel, only a handful of New York's oldest and most exclusive properties are left to carry the torch of a bygone era.
There's the Carlyle, where President John F. Kennedy stayed when he came to town; The Pierre, host to the most elite society balls; The St. Regis, a 100-year-old witness to elegant living along Fifth Avenue; and The Waldorf-Astoria, where every president since Herbert Hoover has stayed and historic peace accords have been signed.
These hotels may be New York icons, but they have come to learn that it's all too easy to slip from grande dame to dowager status.
The Plaza's fate made it painfully clear that prestige and history are not insurance against extinction. In general, these properties no longer command the most expensive room rates.
With uberluxury newcomers like the Four Seasons and the Mandarin Oriental, as well as a bevy of boutique hotels, redefining the lodging landscape, these stately hotels have been forced to find ways to modernize without losing their Old World charm.
"It's important for a hotel not to get lost in its history," says Scott Geraghty, general manager of The St. Regis.
The last several years have, perhaps, brought the most rapid transformations to these courtly institutions. From installing the latest technology to updating guest rooms, lobbies and restaurants, New York's stately hotels are investing millions in their...