Sage Hospitality to Manage The Ritz-Carlton, Chicago
Leading Denver Hospitality Company Takes Over Leading Luxury Hotel
Denver, CO. August 5, 2015 - Sage Hospitality, one of the nation's leading hotel investment, development and management companies, is proud to announce a contract with JMB Realty to manage The Ritz-Carlton Chicago on 160 East Pearson Street. Under the new agreement, as of August 1, 2015, the hotel will become 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 the service 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. To learn more about Sage Hospitality's growing portfolio of hotels, visit www.sagehospitality.com.
About Sage Hospitality Founded in 1984, Sage Hospitality has grown into one of the largest privately held hospitality investment, management and development companies in the nation operating more than 65 premium branded and premier and lifestyle hotels. Today, Sage Hospitality manages luxury brands including Marriott's Autograph Collection, JW Marriott and Starwood's Luxury Collection in addition to operating a growing number of independent, non-branded properties. For more information on Sage Hospitality, please visit www.sagehospitality.com.
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
