Plenty of brand loyal people who will stay there over the Citadel/Mamilla/King David just due to brand.
Don't agree just like the Sheraton plaza it will always be called the Waldorf at this point no matter what it's called later .
Also from speaking to people here the only clientele they got were the plaza people ,points enthusiasts and people who wanted to feel like they were rich staying in a Waldorf
Also the fact people believe they have a "reliable" hechsher more than the others (except the plaza) helped ,citadel king David mamila people who have been using those hotels for years didn't make the jump a good Shabbos it's more expensive and has no real view of the old city