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March of the Hotels

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We've almost come to expect these blockbuster hotel announcements, there's been a few of late. Today's news, from Crain's, is that developer Michael Reschke has reignited his aims for a hotel conversion of the Roanoke Building at 11 S. LaSalle Street. In '09, he attempted to usher in an Edition hotel, a boutique Marriott brand conceived by trend-setting hotelier Ian Schrager. Those plans evolved to extended-stay after the 2010 opening of Reschke's 610-room J.W. Marriott hotel two blocks away on Adams. The boutique tag has been dropped, the brand changed to Residence Inn, and the number of rooms upped from 245 to 375. But it's still gonna be a Marriott, as Reschke attached himself to the hotel for the long haul. "The hotel industry is coming out of the recession," said Reschke to Crain's. "We're in the second or third inning of, hopefully, a nine-inning recovery." [Crain's]