US EditionBraemer Hotels set to transition Sofitel Chicago Magnificent Mile to franchise model
- Braemar Hotels & Resorts announced on April 3, 2025, its plan to franchise Sofitel Chicago Magnificent Mile.
- Braemar, a REIT investing in luxury hotels, expects the conversion to occur in May 2025.
- The 415-room Sofitel Chicago Magnificent Mile will retain its name under the franchise structure.
- Richard J. Stockton said the value should increase because of the Sofitel brand.
- Braemar plans to renovate the lobby, restaurant, and meeting spaces over the next two years.
24 Articles
24 Articles
Cherokee Phoenix
BRAEMAR HOTELS & RESORTS ENTERS INTO FRANCHISE AGREEMENT FOR THE SOFITEL CHICAGO MAGNIFICENT MILE
DALLAS, April 3, 2025 /PRNewswire/ -- Braemar Hotels & Resorts Inc. (NYSE: BHR) ("Braemar" or the "Company") today announced its plans to transition the 415-room Sofitel Chicago Magnificent Mile to a franchise structure. Under the franchise structure, the hotel will…
BRAEMAR HOTELS & RESORTS ENTERS INTO FRANCHISE AGREEMENT FOR THE SOFITEL CHICAGO MAGNIFICENT MILE - Braemar Hotels & Resorts (NYSE:BHR)
DALLAS, April 3, 2025 /PRNewswire/ -- Braemar Hotels & Resorts Inc. (NYSE:BHR) ("Braemar" or the "Company") today announced its plans to transition the 415-room Sofitel Chicago Magnificent Mile to a franchise structure. Under the franchise structure, the hotel will continue to be the Sofitel Chicago Magnificent Mile, but will be managed by Remington Hospitality under the existing terms of its Master Hotel Management Agreement with Braemar. In co…
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