Denver-based Sage Hospitality signed an agreement with JMB Realty to operate the Ritz-Carlton Chicago, located at Water Tower Place. As part of the contract, it will lead a two-year renovation of the property encompassing its guestrooms, spa and meeting space.
This latest deal for Sage, which operates about 65 properties locally and nationally, continues its push into the luxury hotel sector.
The company opened The Crawford Hotel at Denver Union Station last summer and acquired the contract to re-brand and operate the former Four Seasons Hotel Philadelphia in June.
In addition to getting a makeover, the Ritz-Carlton Chicago will become a full participant in the Ritz-Carlton hotel system for the first time in 40 years. Since its 1975 opening, it’s operated under a license agreement with a predecessor of the Ritz-Carlton Hotel Co., but has not been integrated completely into the company’s systems.
Until now the Chicago property has been managed by Four Seasons Hotels and Resorts, and was branded as "The Ritz-Carlton Chicago (A Four Seasons Hotel)."