The original W hotel quiety became the Maxwell on May 4. The property opened its doors on Lexington Ave. in New York City in 1998 on Lexington Avenue, and instantly became a disrupter in the hospitality industry thanks to its groundbreaking and chic design and departure from the cookie-cutter designs of other hotels. The hotel will be getting new owners too. Host Hotels and Resorts Inc. sold it for $190 million. The hotel has been "poor performer," according to Host Chief Executive Officer James Risoleo.