Ian Schrager

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Ian Schrager
Born July 19, 1946 (1946-07-19) (age 65)
New York, New York, USA
Occupation CEO
Spouse Tania Wahlstedt
Children Sophia & Ava
Website
The Ian Schrager Company

(born on July 19, 1946) is an American hotelier and real estate developer. Often associated with co-creating of the Boutique Hotel genre.[citation needed] Originally, he gained fame as co-owner and co-founder of Studio 54.

Contents

[edit] Early years

Schrager's father was a garment worker.[1] Ian Schrager received a Bachelor of Arts from Syracuse University in 1968 and a Juris Doctorate from St. John's University School of Law in 1971.[citation needed] In 1975, Schrager opened Enchanted Garden, a disco in Douglaston, Queens with Steve Rubell, a friend he had made at Syracuse when they were both dating the same woman.[2] The club was set up in a former golf course clubhouse with a capacity of 2,000.

[edit] Business

[edit] Studio 54 Era

In 1974, Steve Rubell teamed up with Ian Schrager to run a chain of Steak Loft restaurants, and after spending some time in the NY nightclub scene, the two decided to open a club of their own. John Addison, owner of La Jardin on West 43rd Street, introduced Rubell to Billy Smith A/K/A Billy Amato, in 1974. Smith was asked by Schrager and Rubell to handle the promotions for their new disco club called "Enchanted Gardens" of sex, a dinner/disco in Queens. While still in the music business, Smith then joined Rubell and Schrager part-time at Studio 54 in the Spring of 1977 and full-time in 1981. Smith stayed with the pair until the closing of Studio 54 in April 1986. Ian Schrager first became known for creating the New York nightclub Studio 54 with his partner, Steve Rubell. Such celebrities as Liza Minnelli, Andy Warhol, Mick Jagger, his wife Bianca Jagger and Truman Capote among other and many celebrities were Studio 54 regulars.[3] The club closed when the pair were charged with income tax evasion and obstruction of justice, and then sentenced to three and a half years in jail. As partner Jack Dushey had given information against them, Rubell and Schrager themselves cooperated with authorities in naming other club owners who were skimming cash and their sentences were reduced to 20 months.[2][4] Still a valuable property, Studio 54 was sold for $2.2 million in 1981.[5]

[edit] Hotels

Schrager and Rubell dabbled in nightclubs again by opening Palladium, but were unable to obtain a liquor license, so they set their sights on the hotel business.

They were able to purchase the Executive Hotel for the money they had, $60,000, and due to unusual terms, were able to use the hotel itself as collateral.[2] Reopening it as the Morgans Hotel, in 1984. (Morgans houses the highly successful restaurant Asia de Cuba by NY restaurateur Jeffrey Chodorow.)

With their success of Morgans, they opened the successful Century Paramont Hotel, as well as acquiring and renovating the Royalton in 1988.[6] Rubell, diagnosed with AIDS in 1985, died the following year.[7][8]

[edit] Morgans Hotel Group

Schrager started the Morgans Hotel Group (aka Ian Schrager Hotels) and opened the Royalton Hotel and the Hudson Hotel, in New York City, the Delano Hotel, in Miami, and the Sanderson Hotel and the St. Martin's Lane Hotel, in London, the Clift, in San Francisco, and the Mondrian Hotel, in Los Angeles.[9]

By 1998, Schrager was the largest private hotelier in New York.[10]

[edit] Ian Schrager Company

In 2005, Schrager left Morgans Hotel Group to create the Ian Schrager Company, and collaborated with artist and filmmaker Julian Schnabel on the Gramercy Park Hotel. The $200 million dollar, 185-room hotel has a residential project next door, 50 Gramercy Park North.[11]

Schrager’s latest venture is a partnership with Marriott International, intending to create a new brand of hotel with about 100 properties to be located in cities throughout North America and South America, Europe and Asia[1] and another New York residence, 40 Bond Street, with architects Herzog and De Meuron. The EDITION hotel brand launched its first hotel in Hawaii on October 15, 2010—The Waikiki EDITION, located in Honolulu, Hawaii and managed by Marriott under a 30 year contract. [12] Celebrities attended a weekend of introductions to the new Hawaiian property including Christina Aguilera, Whitney Port and Danny Masterson.[13]

Less than one year into the contract, on August 28th 2011, the Marriott managers at the Waikiki Edition hotel were locked out by the hotel ownership group who claimed the property was losing money due to Marriott's poor management. A new management group from Modern Management Services LLC took over operations. Marriott received a court order reinstating their control over the property on August 31st, but the owners prevented the enforcement of that order by filing for Chapter 11 bankruptcy the same day. The hotel continues to operate under new management as both sides prepare for the legal dispute. [14]

On May 13, 2009, Ian Schrager and Murray Hill Properties, LLC, a New York City real estate investment firm, reportedly signed a deal to develop a six-star, ultra luxury hotel at 1414 Avenue of the Americas.[15]

[edit] Personal life

Schrager has two daughters, Sophia and Ava, from a previous marriage.

On November 15, 2008, he married Tania Wahlstedt, a former ballerina with the New York City Ballet, who also has two daughters, Amanda and Lili.[16]

Furniture retailer Crate & Barrel named one of their sofas "Ian" in Schrager's honor.[17]

[edit] References

  1. ^ a b Stodgehill, Ron (2007-08-21). "Going Boutique: Ian Schrager and Marriott forge a partnership". International Herald-Tribune. http://www.iht.com/articles/2007/08/21/properties/remar.php. Retrieved 2007-12-29. 
  2. ^ a b c Martin, Douglas (1988-07-11). "New Yorkers & Co". The New York Times. http://query.nytimes.com/gst/fullpage.html?res=940DE3D7133FF932A25754C0A96E948260&sec=&spon=&pagewanted=2. Retrieved 2010-05-04. 
  3. ^ Stodghill, Ron (2007-08-19). "A Hotelier Is Breaking the Mold Once Again". NY Times. http://www.nytimes.com/2007/08/19/business/yourmoney/19ian.html?_r=1&n=Top/Reference/Times%20Topics/People/S/Schrager,%20Ian&pagewanted=all. Retrieved 2007-12-29. 
  4. ^ "Two of Studio 54 Get Reduced Terms". NY Times. 1981-01-08. http://query.nytimes.com/gst/fullpage.html?res=9C05E3D8163BF932A35752C0A967948260. Retrieved 2007-12-29. 
  5. ^ Reality News; Studio 54 New York Times - August 31, 1981
  6. ^ Martin, Douglas (1988-07-11). "New Yorkers & Co". The New York Times. http://query.nytimes.com/gst/fullpage.html?res=940DE3D7133FF932A25754C0A96E948260. Retrieved 2010-05-04. 
  7. ^ Stodghill, Ron (2007-08-19). "A Hotelier Is Breaking the Mold Once Again". The New York Times. http://www.nytimes.com/2007/08/19/business/yourmoney/19ian.html?pagewanted=all. Retrieved 2010-05-04. 
  8. ^ Kornbluth, Jesse (1997-02-16). "Is South Beach Big Enough For Two Hotel Kings?". The New York Times. http://query.nytimes.com/gst/fullpage.html?res=9B00E1D9153FF935A25751C0A961958260. Retrieved 2010-05-04. 
  9. ^ "The Mondrian, Miami". Sleeper. 2007-03-01. http://www.sleepermagazine.co.uk/Sleeper/Spring07/db_mondrian.htmres=9C05E3D8163BF932A35752C0A967948260. Retrieved 2007-12-29. [dead link]
  10. ^ Bagli, Charles (1998-05-22). "Deal Turns Former Disco Owner Into City's Largest Private Hotelier". New York Times. http://query.nytimes.com/gst/fullpage.html?res=9F04E1D91039F931A15756C0A96E958260. Retrieved 2009-01-09. 
  11. ^ Betts, Kate (2007-09-07). "A Hotel Guru Changes Rooms". Time. http://www.time.com/time/magazine/article/0,9171,1223352-1,00.html. Retrieved 2007-12-29. 
  12. ^ [1]
  13. ^ Roman, Caroline (2010-10-17). "Ian Schrager Opens New Waikiki Hotel "The Edition" with Christina Aguilera". Daily Truflle. http://www.thedailytruffle.com/2010/10/ian-scragers-hawaii/. 
  14. ^ http://www.staradvertiser.com/news/breaking/128915138.html accessed 1 Sept 2011
  15. ^ Weiss, Lois (2009-05-13). "SCHRAGER PLANS MIDTOWN HOTEL". New York Post. http://www.nypost.com/seven/05132009/business/schrager_plans_midtown_hotel_168947.htm?page=0. Retrieved 2009-05-13. 
  16. ^ "Tania Wahlstedt and Ian Schrager". nytimes.com. 2008-11-15. http://www.nytimes.com/2008/11/16/fashion/weddings/16WAHLSTEDT.html. Retrieved 2008-11-27. 
  17. ^ "World-famous hotelier may sue Crate & Barrel after it named a white leather sofa 'Ian' after him". dailymail.co.uk. 2011-03-09. http://www.dailymail.co.uk/news/article-1364562/Hotelier-Ian-Schrager-sue-Crate--Barrel-named-white-leather-sofa-him.html. Retrieved 2011-03-10. 

[edit] Further reading

[edit] External links

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