Part 6/10:
By the 1980s, Grossinger's was grappling with financial difficulties. Despite its storied past, the allure faded as visitor numbers plummeted from hundreds of thousands to less than 50,000 per year. In 1984, following major operational losses, Paul Grossinger sold the hotel to a group of investors, initiating a new era of attempts to revive the iconic destination.
Failed Revival Attempts
Under a new ownership model that included the hospitality service company Cervico, optimism reigned briefly for Grossinger's. Ambitious plans for renovations to the main hotel and the construction of additional condos were envisioned to reinvigorate interest in the property. Unfortunately, financial constraints and mismanagement brought those dreams crashing down.