Will now launch new hotel company, SCHRAGER HOTELS, and two new hotel brands and roll them both out in 24-hour international gateway cities around the world

Ian Schrager officially acquired on April 1st, 2010 the historic landmark Ambassador East Hotel in Chicago, Illinois, located in the heart of the exclusive Gold Coast. This coveted location is the city's most desirable retail, dining, entertainment and residential neighborhood.

Russell will oversee the sourcing, acquisition, financing, asset management and real estate administration of the company as well as its development.

Ian Schrager brought hipness to hospitality. But his quirky new Gramercy Park Hotel project says that uncool is now the place to be

Following rapid and substantial growth and leading the way for further expansion, Ian Schrager Company (ISC) announced the appointment of Mitchell C. Hochberg as President and Chief Operating Officer.

The boutique hotel industry has finally come of age. Twenty-one years after it was invented by Ian Schrager, a nightclub entrepreneur, in New York, his business is going public. But the company he created, Morgans Hotel Group, will have to cope without him; he resigned as chief executive last June. It will be interesting to see if the group can retain its cutting edge, especially as the segment has become steadily more crowded.

When four years ago Ian Schrager opened the Sanderson, his latest venture in ultra-hip hotels with chic interiors, eye-watering prices and a clientele to match, he declared: 'London is hot right now. That's why my strategy is to come here and saturate London with multiple properties - maybe as many as seven hotels.'

Ian Schrager, Chairman of Ian Schrager Hotels, announced today that the company bearing his name would resume the use of its original name, Morgans Hotel Group, LLC. The change will become effective immediately.

Ian Schrager's Paramount Hotel, at 245 W. 46th St., will be bought by the Hard Rock Hotel chain for $125 million. The deal is expected to close in June.

SAN FRANCISCO, Aug 20 (Reuters) - Ian Schrager, former New York nightclub impresario who in recent years has developed a chain of trendy boutique hotels, has taken a step down from the heights of hipdom after seeing his Clift Hotel in San Francisco file for Chapter 11 bankruptcy.