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By Becky Yerak
| Shares of Strategic Hotels & Resorts Inc., the Chicago-based owner
of the Fairmont and InterContinental hotels in Chicago, as well as other
luxury properties worldwide, continued their recent surge. They were up 9.6 percent
late afternoon Monday, amid more optimism about high-end lodging
properties.
Its stock was at $4.59 as the stock market neared its close. The
company’s 52-week trading range is 70 cents to $4.82.
Dick and Janeen Schmaedeke exit the Pump Room, located inside the Ambassador East Hotel, 1300 N. State Street, in January. (Chris Sweda/Chicago Tribune) Below: New owner Ian Schrager in 2000. (AP Photo) .
By Wailin Wong |
Ian Schrager is officially the new owner of the Ambassador East hotel
and the legendary Pump Room restaurant, and the famous hotelier has
ambitious plans to restore the grandeur of the faded Gold Coast
landmarks.
“It already has great DNA,” Schrager told the Tribune in an interview.
“It already has this great ethos and history and tradition. So it’s a
matter of going back in there and coming with a product that’s
distinguishable from everything else in the marketplace.”
(Abel Uribe/Chicago Tribune)
