“This hotel is exactly how I would have imagined the Algonquin transforming itself in the 21st century,” announced Penguin Books CEO David Shanks to an attentive crowd last week.

A single person clapped and, realizing they were all alone, stopped.

Mr. Shanks continued, “It exudes the grandeur of Gotham and the dazzle of the iconic Mad Men design gone modern.” Mr. Shanks cleared his throat. “It’s really amazing.”

Last Monday, a group (of “top hotel and publishing executives as well as media industry influencers,” per a press release) was gathered at a private party to celebrate the grand reopening of the gut-renovated hotel and the launch of its new partnership with Penguin Books. Read More