Industry News
Hotels & Resorts
Aug 22, 2012
New Owner to Renovate Chicago W Hotel
Starwood Hotels & Resorts has sold its W Chicago-Lakeshore hotel to a real estate investment trust for $126 million. As a condition of the sale, Chesapeake Lodging Trust will begin an extensive renovation of the property, including the 3,800-square-foot Altitude meeting room on the 33rd floor, which offers 360-degree views of the city. The project will also make upgrades to the hotel’s 520 guest rooms, as well as the rooftop bar, welcome desk and Wave restaurant. Starwood has signed a 40-year management agreement and will continue to operate the hotel as a W. rttnews.com
