Ian Schrager says he's almost always opened his hotels in 'terrible' neighborhoods, and it's always worked out.
A restaurant at Schrager's newly opened New York EDITION.In fact, Schrager has been working on projects in Times Square for years. He co-founded the legendary nightclubin the area, which was known for its wild, star-studded parties in the 1970s and early '80s.
"Any great city changes or evolves and goes back and forth like the ebb and flow of a river," he told Business Insider.
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