Retired movie people living in a once-grand hotel, fight the wrecking ball to save their home and earn a new lease on life.

"With their grand hotel?s final curtain call looming, an ensemble of forgotten actors band together against a greedy producer in a show stopping performance."

>>Even in an ensemble piece, there is usually one character whose journey signifies both the start and the end of the story

Great point by nicholasandrewhalls. The Iliad, written a few thousand years before I was born, has a cast of thousands. But Aristotle in The Poetics sings its praises because the sprawling epic focuses on one character above all, Achilles. His story thread provides the unity of the plot.

Honestly, I think I'd see this movie, but the logline is not really working terribly well.

Even in an ensemble piece, there is usually one character whose journey signifies both the start and the end of the story. (I was watching Pulp Fiction last night - and you'd be hard pressed to argue that the film, by the second half, hasn't become Jules' story). If you've already written this script, you're writing this logline to pitch to producers to get it made - and they're gonna want to know who the audience is meant to connect with. I'd say clarify who the protagonist of the story is.
"Movie people" means nothing. Are they actors? The Hollywood elite? Movie people could mean fictional characters for all the audience knows.
Agreed that wrecking ball, for all it stands for, is not a very good antagonist. Who is behind the wrecking ball.
Also "earn a new lease on life" tells us the inner journey the residents will experience; this can be more succinctly implied by assigning an adjective to the protagonist when you describe him/her that gives us the character's flaw - and thereby, the journey they will go on in the film to either overcome or succumb to that flaw.
I don't love the title but I also don't hate it. Could you punch it up?
Great work so far!