Cloud Club closed in the evening. Many famous executives based in the tower had lunch in the club. The club was only for men for several decades. In the 1950s and 1960s newer clubs opened, causing the attendance at the Cloud Club to decrease. In 1971 180 corporations supplied 300 members of the club. The club declined more as competition from other clubs increased and as companies moved offices to suburban areas. Texaco moved its employees to Westchester, New York in 1977, and the club closed in 1979. Tishman Speyer, which took over the Chrysler Building in 1998 and refurbished it, leased
Hong Kong Club Building redevelopment. Hongkong Land was the appointed developer. The club occupied the 25th to 27th floors of World-Wide House during redevelopment. The Victorian building was demolished in June 1981. The knocked-down building was replaced with a 21-storey building designed by Austrian-born Australian architect Harry Seidler, that was unveiled to the members in December 1980. Hongkong Land agreed to shoulder all demolition and rebuilding costs in exchange for the rental income of the upper storeys for 25 years. of the new building was to be occupied by the Club – the four podium floors in the new tower would be kept as