Kristin Scott Thomas, Lauren Bacall, Ned Beatty, Moritz Bleibtreu, Willem Dafoe and Lily Tomlin complete the cast of the movie, which will begin filming next week.
Harrelson will play an escort to society ladies. Schrader said the character is his vision of what his "American Gigolo" protagonist would have become when he hit 50.
"His gifts are now more social than sexual. He’s this society walker who has his lady friends, and a boyfriend on the side," said Schrader.