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Helmsley Park Lane Hotel history
Helmsley Park Lane Hotel company history timeline
Helmsley took his first major stride toward self-made billionaire status in 1938 when he assumed ownership--rather than management--of his first property, a ten-story office building on East 23rd Street between Fifth and Madison avenues.
1949: Helmsley enters partnership with Lawrence Wien.
Helmsley himself won early recognition in 1958 when he was named Realty Man of the Year by his peers.
After fashioning Helmsley-Spear into the largest real estate management company in the United States by 1970, Helmsley turned his attention to the luxury hotel business, to which he had first been exposed years back when he purchased the St Moritz with Wien.
Built in 1971 by Harry B. Helmsley, the hotel has stood since then as the tallest building on the three-block stretch — which is about its only distinguishing feature.
Ironically, this was one of the few Helmsley properties not solely owned by Helmsley founder Harry Brakmann Helmsley and his wife, Leona, whom he married in 1972.
1980: Leona Helmsley is named president of Helmsley Hotels.
The purchase date of June 20, 1983 marked the beginning of a massive scheme, orchestrated by Leona, to defraud minority shareholders in the Palace and other Helmsley properties.
In 1983 the Leperq group won a $3.5 million judgment against Helmsley for excessively high commissions charges related to Deco.
1989: Leona Helmsley is indicted.
Leona Helmsley was freed from prison in February 1994, after having served eight months in a federal prison, plus several months at a halfway house and in her own home under house arrest.
By 2000, about half the Helmsley properties had been sold, bringing in an estimated $2.5 billion.
A group of apartment buildings on the Upper West Side went for $122 million in 2000.
By 2000, Leona Helmsley herself had reached the age of 80.
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Helmsley Park Lane Hotel competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| Vail Mountain Lodge & Spa | - | $6.0M | 200 | - |
| Holiday Inn Select | - | $2.4M | 126 | - |
| Radisson | - | $3.0M | 50 | 3 |
| Hotel Investment Services | 1989 | $27.0M | 750 | 33 |
| Swiss-Belhotel International | 1987 | $18.0M | 3,000 | - |
| The Yale Club of New York City | 1897 | $50.0M | 200 | - |
| The Watergate Hotel | 1967 | $14.0M | 139 | 11 |
| Waterford Hotel Group, Inc. | 1984 | $56.0M | 526 | - |
| Vision Hospitality Group | 1997 | $75.0M | 900 | 4 |
| Caesar Park Hotels And Resorts Inc | - | $980,000 | 12 | - |
Helmsley Park Lane Hotel history FAQs
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Helmsley Park Lane Hotel may also be known as or be related to Helmsley Enterprises, Inc., Helmsley Enterprises Inc, Helmsley-Noyes Co. LLC and Helmsley Park Lane Hotel.