With the Great Depression the Dukes could no longer afford operating the hotel and sold it back to Vincent Astor, who then in turn took it upon himself to restore it to New York’s most elegant hotel.

With the younger Astor’s passing in 1959, the hotel was sold in several short successions until the Sheraton chain picked it up in 1966. After several renovations it was reopened in the fall of 1991 as one of the most luxurious hotels in the world and it eventually became the flagship of the Starwood Hotel brand of St. Regis Hotels & Resorts, which provide ultra-luxury establishments in major destinations.