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What a difference $90 million makes. Enough, in this case, to turn an aging dowager into a fresh-faced debutante. Dubai-based hoteliers Jumeirah bought this Art Deco treasure in 2005, then carefully rolled out restorations over the next two years. Today, a print of nearby Central Park by Korean photographer Atta Kim dominates the polished-marble lobby, while blush-tone flowers adorn the hallway carpets upstairs. Interspersed with multimillion-dollar private condos, the 509 rooms now have substantial technological upgrades such as touch-screen panels on the phones that set lighting moods and background music; a lighted underfoot pathway to the bathroom; and a subtly changing LED fixture over the beds. There may be more-luxurious hotels nearby, but at a time when $1,000 a night is the opening rate at New York’s top hotels, Jumeirah has priced itself one solid step lower. Spacious suites start around $800—less than the cheapest standard room at St. Regis. — Stephen Milioti

Pros
Fairly priced and affordable relative to others in the area; functional room design; unbeatable location.

Cons
Those who really want to be coddled might find it a tad impersonal.

Weddings
Couples who love the St. Regis but want something a little less pricey should investigate this renovated Art Deco landmark. The Grand Salon—with mirrored doors and pastoral murals—holds up to 250 people with dancing; the more intimate Petite Salon accommodates 200. Packages start at $225 per person and include bridal suite, groom’s changing room, and the wedding cake.

Special Offers
Website frequently lists good room deals, down to $329 for a queen room.