If you're going to build a luxury hotel, conduct market research to ensure there's a demand for it first. That's what the original owners of Halcyon Hall failed to do in 1890, and that's why they had to let go of it ten years after it was built.
The next owners opened a school inside the building. That worked for a while, but they added too many extra buildings too quickly, and ran into insurmountable debt. The Bennett College went bankrupt in 1977, and nobody's been inside since.