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Acquisitions & Hotel Openings

Developed by Sterling Bay Companies, Ace Hotel Chicago Officially Opens

CHICAGO, IL. August 15, 2017 — Today Ace cuts the ribbon for the official grand opening of Ace Hotel Chicago. Located in the city’s West Loop neighborhood, known for its vibrant cultural, food, art and design scene, the 159-room hotel offers event and public spaces along with a signature restaurant and rooftop bar.

"It feels so good to be in Chicago — to pay tribute to the city's great thinkers and makers and celebrate its design history, its culinary expertise and its ongoing cultural renaissance. We hope to be able to provide a gathering space for visitors, locals and other people who stop in on their way to explore the city." — Kelly Sawdon, Partner & Chief Brand Officer, Ace Hotel/Atelier Ace

Sterling Bay Companies, the innovative investment firm and commercial real estate developers based in Chicago, are the developers behind the project while the team at GREC Architects serves as the architect for Ace Hotel Chicago. The architecture incorporated the spirit of the New Bauhaus in Chicago while preserving the existing Fulton Market landmark cheese factory façade on the south side of the building.

The design pays homage to the city of Chicago by marrying mid-western craftsmanship with utilitarian design. Simple, straightforward and thoughtfully detailed materials with simple coloration, hand-woven textiles, natural leather, wools, and linens were used to add a layer of warmth and texture to the clean lines. Each of the rooms are complemented by a unique piece of art on Ace Hotel Chicago letterhead stationary – each carefully stippled, painted or hand-drawn by a student of the School of the Art Institute of Chicago.

With an impressive food and beverage program, Ace Hotel Chicago also announces the opening of Waydown. The rooftop/lounge area is located on the hotel’s seventh floor that boasts panoramic views of the downtown skyline. Waydown offers a distilled food menu as well from the hotel’s Executive Chef, Pat Sheerin. Those looking for a full dining experience can head to the hotel’s signature restaurant, City Mouse.

To mark the opening, Ace partnered with three local organizations, raising over $25,000 by donating a portion of reservations and events. The organizations – Little Black Pearl, Young Chicago Authors and 826CHI – all focus on the empowerment and social development of youth in Chicago. Little Black Pearl exposes urban youth to art and culture, educating them about profitable connections between art and business. Young Chicago Authors, home of Louder Than A Bomb: The Chicago Youth Poetry Festival, is a not-for-profit arts and education group dedicated to giving voice to the youth of Chicago, transforming the lives of young people by cultivating their voices through writing, publication and performance education. 826CHI amplifies young voices and teaches the necessary skills for Chicago’s youth to be the writers of their own futures, undefined by circumstance.

Ace Hotel Chicago is the newest member of the Ace family joining Seattle, Portland, New York, Palm Springs, Downtown LA, London, Pittsburgh and New Orleans. For more information visit https://www.acehotel.com/chicago or call 312.764.1919.

Coming Up In The December Online Hotel Business Review




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Feature Focus
Hotel Law: Issues & Events
There is not a single area of a hotel’s operation that isn’t touched by some aspect of the law. Hotels and management companies employ an army of lawyers to advise and, if necessary, litigate issues which arise in the course of conducting their business. These lawyers typically specialize in specific areas of the law – real estate, construction, development, leasing, liability, franchising, food & beverage, human resources, environmental, insurance, taxes and more. In addition, issues and events can occur within the industry that have a major impact on the whole, and can spur further legal activity. One event which is certain to cause repercussions is Marriott International’s acquisition of Starwood Hotels and Resorts Worldwide. This newly combined company is now the largest hotel company in the world, encompassing 30 hotel brands, 5,500 hotels under management, and 1.1 million hotel rooms worldwide. In the hospitality industry, scale is particularly important – the most profitable companies are those with the most rooms in the most locations. As a result, this mega- transaction is likely to provoke an increase in Mergers & Acquisitions industry-wide. Many experts believe other larger hotel companies will now join forces with smaller operators to avoid being outpaced in the market. Companies that had not previously considered consolidation are now more likely to do so. Another legal issue facing the industry is the regulation of alternative lodging companies such as Airbnb and other firms that offer private, short-term rentals. Cities like San Francisco, Los Angeles and Santa Monica are at the forefront of efforts to legalize and control short-term rentals. However, those cities are finding it’s much easier to adopt regulations on short-term rentals than it is to actually enforce them. The December issue of Hotel Business Review will examine these and other critical issues pertaining to hotel law and how some companies are adapting to them.