Stanley Bard took over operation of the hotel from his father, David Bard, in the mid-1950s. (By the way, today, June 16, is Stanley Bard's 73rd birthday. How weird is that?) Stanley has always managed to keep the rents at least somewhat affordable for the writers and artists in residence, but now his partners (represented by a board of director) have forced him and his son out of their management roles. This certainly means the end of an era for the hotel.
We have been hearing rumors since early 2006 that the board was putting pressure on Stanley to make the hotel more profitable..."
Interview with Wit about our time in the legendary Chelsea: Living with Legends: Hotel Chelsea Blog: Mad Man Serenades As Lovers Entwine.