Of the same vintage as the neighboring St. Regis (both hotels were built between 1904 and 1905), the Peninsula has retained its decorative Beaux-Arts façade — but inside, old-world grandeur meets streamlined modernity. A crystal chandelier dangles in the lobby, illuminating dark-cherry and Carpathian-elm burl woodwork with Art Nouveau carvings; Oriental carpets are spread over white marble floors. The 239 rooms feature sleek chaises, Roman shades, lacquered armoires, mahogany headboards, and goose-feather duvets — as well as high-tech touches like bathroom flat-screen TV's (might as well keep up with the financial news while you're soaking in the tub). Afternoon tea service in the Gotham Lounge is a characteristically civilized affair, while the rooftop bar, formerly known as the Pen-Top, is one of the city's hottest spots for a drink.

Insider Tip: The Peninsula Spa offers a range of Asian, European and Ayurvedic therapies. Check out the Spa-splurge package for two hours of treatment and a poolside lunch.

Room to Book: The spacious Deluxe Luxe suites, which overlook the bustle of Fifth Avenue.

• 1. The Peninsula New York
  700 Fifth Avenue, New York, NY 10019; 212-956-2888 40.761695-73.974873 peninsula.com