Original sentence: A year later Bustillo built a new hotel out of reinforced concrete and stone which was renovated in 1993.In 1999 the hotel became a member of The Leading Hotels of the World, and has won many important prizes since it re-opening in 1993
Edited sentence: A year later Bustillo built a new hotel out of reinforced concrete and stone which was renovated in 1993, after being closed in 1976 due to lack of funds for maintenance.During more than 15 years before its reopening in 1993, the hotel was exposed to robbery, vandalism and overall neglect.IRSA sold 50% of its stake to Sutton Group, which operates the hotel, in 2000.In 1999 the hotel became a member of The Leading Hotels of the World, and has won many important prizes since it re-opening.The 1993 reopening happened after ownership was transferred to CEI Citicorp Holdings in compensation for Argentina government bonds.The hotel was acquired by argentinian property firm IRSA in 1997 for $13.3 million