Case took over the lease on the hotel in 1907 and bought the property on which the building sat in 1927 for US$1 million. Case remained owner and manager of the hotel until his death in June 1946. In October that year, The Algonquin was purchased by Ben Bodne of Charleston, South Carolina, for just over US$1 million. Bodne undertook an extensive restoration and renovation effort. Bodne sold the hotel in 1987 to a group of Japanese investors and the Algonquin changed hands a number of times before ending up with Miller Global Properties in 2002. Following a two-year, US$3 million renovation, the hotel was sold again in 2005 to HEI Hospitality.