One of the most recognizable and respected luxury properties in New York City, The Palace lives up to its hype. The 909-room hotel completed a massive renovation in 2013, and features numerous property features, including a large, modern fitness center, a fine dining restaurant, and two intimate lounges. Tourists, business travelers, and celebrities alike stay in its spacious, sophisticated rooms, and it's convenient Midtown location, across the street from St. Patrick's Cathedral and within walking distance of numerous sights, is also a major draw. The lack of a full spa at such a large hotel is surprising, however, and there's an annoying Wi-Fi fee for guests not staying in the Tower suites. Nonetheless, The Palace remains a grand New York icon; Tiffany stained glass windows and gilded ceilings remain from its days as a private mansion.