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Hospitality Watch

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Boutique hotels are taking a chance on the West Loop. In fact, the area is probably better primed for small-scale luxury accommodations than most considering the cost of land in The Loop or Near North and dearth of good low-rise candidates for rehab and conversion. A Crain's report points to Robert De Niro's growing Nobu restaurant/hotel empire as the interested party. The target: a vacant parcel at Randolph & Peoria. The prospect: a Nobu Japanese restaurant and hotel of unknown size. Meanwhile, Soho Hotel's boutique project is underway at Randolph & Green. [Crain's, previously]