Sage Hospitality JV sells The Blackstone Chicago hotel, home to the original ‘smoke-filled room,’ for $43M ($128k/room) to Vinayaka Hospitality

• 5/18/2026

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CoStar

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• Subcategory: Hospitality: Hotel

• Tag: JV-Partnership | Sale

• Additional Filters-Subcategory: Hospitality: Upper Upscale

• Additional Filters-Tags: Historic, Hospitality: Franchise, Sale: Investment, Sale: Single Property

• Company: Marriott (Nasdaq: MAR), Jones Lang LaSalle (NYSE: JLL), Sage Hospitality Group, Vinayaka Hospitality

Sage Hospitality Group

Dean Stambules | CIO, Sage Investments

[email protected]

303-595-7200

Vinayaka Hospitality

Komal Patel | CEO

[email protected]

630-344-2199