The Waldorf Renovation: Over Budget, Past Deadlines, a Man Imprisoned

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• 00:04

  The Waldorf Astoria Hotel in New York City is one of the most iconic hotels in the world.

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  And it was once the crown jewel of New York glitz and glam.

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  I spoke to my colleague Craig Carman about it.

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  It's one of the most famous hotels in America.

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  It opened in 1931 and at the time it was probably the most luxurious hotel, probably in the world.

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  It was also the most modern.

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  Imagine it's the 1950s.

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  You're headed out for a night on the town.

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  So you put on your finest clothes and head to the Waldorf.

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  So you would probably walk in from Park Avenue.

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  The hotel took up a full block on Park Avenue.

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  You'd walk up the marble stairs.

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  And once inside, you would probably be surrounded by wealthy business people, tourists.

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  Perhaps the occasional celebrity or sports figure.

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  There was a part of the hotel lobby known as Peacock Alley.

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  It was a place where people went to strut their stuff.

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  The hotel drew celebrities like Marilyn Monroe and Frank Sinatra,

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  and even presidents have stayed there.

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  But by the 2010s, the hotel was losing its shine.

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  It badly needed renovations.

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