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 Condo hotel craze Words of caution about the flip side
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CHICAGO -- The Fordham Company today announced the acquisition and redevelopment of Chicago's famed Ambassador East Hotel The complete transformation of the classic 1926 hotel will include exquisite condominium-hotel units designed by Laurie Miller and a revitalized Pump Room. Financing was provided by Fremont Investment and Loan.
"With an incredible team in place that has their fingers on the pulse of design, culinary treasures, exciting entertainment and high-end hotel management, we will re-establish the Ambassador East as one of Chicago's finest destinations," said Christopher Carley, chairman of The Fordham Company. The property will include one of Chicago's finest spa and fitness centers and a new indoor pool, subject to city approval. "By beautifully appointing every room and leisure area in the Ambassador East, its elegance, charm and legacy will be restored and rebranded immediately as a new classic."
http://www.hotelbusiness.com/links/archive/archive_view.asp?ID=27276&search_variable=condominium%20hotel
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Home Real Estate News
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Publishing date: 04/04/06
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