CHICAGO
Sage Hospitality recently announced a contract with JMB Realty to manage The Ritz-Carlton Chicago on 160 East Pearson Street, with a major transformation of the property on the way as well.
Under the new agreement, as of August 1 the hotel became a full participant in The Ritz-Carlton hotel system for the first time in 40 years. As part of the change, the 435-room hotel will also undergo a full renovation, to include all guest rooms and suites, public spaces, full-service spa and 21,000 square feet of meeting and event space, over the next two years.
Since opening in 1975, the hotel has been operating using The Ritz-Carlton name under a license agreement with a predecessor of The Ritz-Carlton Hotel Company, but the terms did not provide full integration into Ritz-Carlton’s systems. The Ritz-Carlton, Chicago will fully participate in Ritz-Carlton’s programs and systems going forward, delivering to guests all the services for which The Ritz-Carlton hotels are known.
“We have looked forward to this deal for a very long time. It’s one of the truly great hotels in one of the great American cities,” said Walter Isenberg, president and CEO of Sage. “This new partnership with Ritz-Carlton is an amazing opportunity. The planned renovation will bring the property up to The Ritz-Carlton high standards and we are ready to operate this hotel as one of the best in the world.”
Sage continues growth in the luxury market with this agreement, following an announcement of the Logan, Philadelphia’s hotel, opening in November 2015 and the opening of The Crawford Hotel at Denver Union Station last year. Founded in 1984, Sage Hospitality manages luxury brands that include Marriott’s Autograph Collection, JW Marriott and Starwood’s Luxury Collection and it also operates other independent properties.
