Opened in 1934, it was a focal point for the city's elite as well as one of the United States' highest restaurants above ground. Due to World War II, the Rainbow Room was closed from 1942 to 1950. The restaurant received renovations in 1965 and 1985–1987, both of which sought to restore its original 1930 decor. Suffering from a decline in business following the financial crisis of 2007–08, the Rainbow Room closed in 2009. The restaurant reopened in 2014 following a renovation.