Article: Sheraton Chicago Hotel and Towers defines "conventional" thinking on hotel development.

While many developers may uncritically accept the proposition that Chicago needs another large hotel about as much as it requires more Michael Jordan merchandise, at least two prominent players have identified a critical - and lucrative - niche market that they intend to dominate with a newly opened facility.

Developed by New York City-based Tishman Realty & Construction Co., Inc., and operated by Boston-based ITT Sheraton Corporation, a subsidiary of ITT Corporation, the Sheraton Chicago Hotel & Towers rises 34 stories above the north shore of the Chicago River, just before its confluence with Lake Michigan. Costing in excess of $180 million, the 1,200-room, 1.2 ...

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