New Yorkers held their collective breath when hotelier Ian Schrager announced he was revamping the Gramercy Park Hotel, a 1924 gem that had hosted everyone from Humphrey Bogart to David Bowie. They needn’t have worried: The redesigned lobby, unveiled in 2006, retains the boho spirit, with ruby-red banquettes, an enormous Venetian chandelier and working fireplace, and artwork by Cy Twombly, Andy Warhol, Richard Prince and Julian Schnabel (the hotel’s art director). The eclectic elegance continues in the spacious rooms, which include tapestry-covered chairs, hand-tufted rugs, mahogany English drinking cabinets and a Pre-Raphaelite color palette of deep reds and blues. Danny Meyer’s trattoria, Maialino, has bumped up the attractions.