I've been in that lift a once or twice when I've stayed at the Penn, partly out of curiosity and partly because I have a weird love of fancy lifts....I always thought it went to just 2 floors as you've described, there weren't any other buttons that I could recall and thought perhaps there was a "secret key" that would take people up to the top suites otherwise the lift is largely an expensive folly - as there is access to all floors using the main lifts.

However, I don't think the geography is correct - if that lift were to be used to access the top floors wouldn't in effect be running up the front of the building or right through where some of the other rooms are? I've never seen mention of a private elevator before. If there is one the logical place would seem to be (and forgive me if this doesn't quite work as it's been 3 years) to have a separate VIP lift lobby next to the main entrance (similar to the Valley Wing at the Shangri-la in Sin) actually backed onto the exisiting lifts - I'd be surprised if they didn't have something like this in any case - if only for luggage.