The owners of the hotel are free to mull a name change of the hotel they own.
Changing the name of a business is not a minor thing.
Particularly one like The Drake. This is a Five Star hotel.
The Drake has name recognition that is not easy to come by. Changing the name would be the loss of millions of dollars in free advertising. The Drake image and name appear in a lot of movies and TV shows that get a lot of play on TV.
Then the is the cost of changing the name on letter heads, changing the name in advertising, website.
This is millions of dollars and not a small decision.