Ian Schrager Sells Gramercy
Internationally renowned hotelier Ian Schrager has confirmed the sale of his interests in the Gramercy Park Hotel amid plans to roll out two hotel brands under his new hotel company Schrager Hotels.
The two offerings will be one luxury lifestyle brand and a stylish less expensive hotel brand for both major city centre 1,000+ room hotels and smaller hotels. The first hotel is set to open in September 2011 in Chicago. Other sites will include major cities such as New York, London, Paris, Rio de Janeiro and others in Europe, Asia, India and South America.
Schrager also plans expansions through his hotel brand Edition in collaboration with hotel group Marriott International. “I plan to spend all of my time, energy and focus on creating two new hotel brands for my hotel company, Schrager Hotels, in addition to continuing my work on Edition for Marriott,” says Schrager.