Complex sentence: After failing to turn a profit, the hotel closed in 1975 and was slated to be demolished; however, new owners renovated and reopened the hotel later in the decade, and an addition was built on the building in 1982.
Split into simpler sentences: After failing to turn a profit, the hotel closed in 1975 and was slated to be demolished. The new owners renovated and reopened the hotel later in the decade, and an addition was built on the building in 1982.