On August 22, 1959, Lytton hosted a farewell party on the grounds of the hotel. Among the attendees was silent film star Francis X. Bushman, who had been at the opening party in 1927. Some other guests came costumed as old-time stars. In a nod to the hotel's creator, Nazimova's experimental 1923 silent film "Salomé" was shown on a large poolside screen. On August 30, an on-site public auction liquidated all the furnishings, fixtures and equipment, along with odds and ends valuable only as souvenirs. Demolition permits were issued on November 2. Within days, all traces of the hotel were gone and construction of the bank building had begun.