Ian Schrager

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Ian Schrager (born New York City, July 19, 1946) is an American hotelier and real estate developer often associated with being the creator of the "boutique hotel" genre. He originally gained fame as one of the founders of the Studio 54 discotheque.

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[edit] Early life

Schrager's father was a garment worker. [1]He 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] The Manhattan lawyer opened in 1975 a disco in Douglaston, Queens called Enchanted Garden 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] Studio 54

Schrager first became known for creating the New York nightclub Studio 54 with his partner, Steve Rubell. Such celebrities as Andy Warhol, Mick Jagger, his wife Bianca Jagger and Truman Capote were Studio 54 regulars.[3] Unfortunately, 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. [4][5] Still a valuable property, Studio 54 was sold for $2.2 million in 1981.[6]

[edit] Hotels

After getting out of jail, Rubell and Schrager dabbled again in nightclubs, opening Palladium, but being unable to get a liquor license, they set their sights on the hotel business. In a stroke of good fortune, 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.[7] They reopened it as Morgans Hotel in 1984. (Morgans houses the highly successful restaurant Asia de Cuba by NY restaurateur Jeffrey Chodorow.)

After the financial success of Morgans, Schrager and Rubell opened the successful Century Paramont Hotel, and acquired and began renovating the Royalton in 1988.[8] After Rubell fell ill[9][10], Schrager alone started the Morgans Hotel Group (later known as Ian Schrager Hotels) and opened The Royalton and The Hudson in New York, The Delano in Miami, and The Sanderson & St. Martins Lane in London, The Clift Hotel in San Francisco and The Mondrian in Los Angeles. [11] By 1998, Schrager was the largest private hotelier in New York.[12]

In 2005, Schrager left Ian Schrager Hotels/Morgans Hotel Group, created the Ian Schrager Company, and collaborated with artist and filmmaker Julian Schnabel on the Gramercy Park Hotel, a $200 million dollar, 185 room hotel along and a residential project next door, 50 Gramercy Park North. [13] Schrager’s latest venture are a partnership with Marriott International intending to create a new brand of as many as 100 hotels located in cities throughout North and South America, Europe and Asia, [1] and another New York residence, 40 Bond Street, with architects Herzog and De Meuron.

On May 13, 2009 it was reported that Ian Schrager signed a deal with Murray Hill Properties LLC, a New York City real estate investment firm, to develop a six-star, ultra luxury hotel at 1414 Avenue of the Americas.[14]

[edit] Personal life

Mr. Schrager has two daughters, Sophia and Ava, from a previous marriage. He married Tania Wahlstedt on November 15, 2008, a former ballerina with the New York City Ballet, who also has two daughters Amanda and Lili. [15]

[edit] External links

[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 on 2007-12-29. 
  2. ^ [1]
  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 on 2007-12-29. 
  4. ^ [2]
  5. ^ "Two of Studio 54 Get Reduced Terms". NY Times. 1981-01-08. http://query.nytimes.com/gst/fullpage.html?res=9C05E3D8163BF932A35752C0A967948260. Retrieved on 2007-12-29. 
  6. ^ Reality News; Studio 54 New York Times - August 31, 1981
  7. ^ [3]
  8. ^ [4]
  9. ^ [5]
  10. ^ [6]
  11. ^ "The Mondrian, Miami". Sleeper. 2007-03-01. http://www.sleepermagazine.co.uk/Sleeper/Spring07/db_mondrian.htmres=9C05E3D8163BF932A35752C0A967948260. Retrieved on 2007-12-29. 
  12. ^ 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 on 2009-01-09. 
  13. ^ 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 on 2007-12-29. 
  14. ^ 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 on 2009-05-13. 
  15. ^ "Tania Wahlstedt and Ian Schrager". nytimes.com. 2008-11-15. http://www.nytimes.com/2008/11/16/fashion/weddings/16WAHLSTEDT.html. Retrieved on 2008-11-27. 

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