Latest news with #PumpRoom
Chicago Tribune
01-08-2025
- Business
- Chicago Tribune
Editorial: Will Chicago see fewer freight trains after the megamerger of Norfolk Southern and Union Pacific?
As fans of 'The Gilded Age' know, great fortunes were made by building railroads across the width of the USA. Chicago, of course, was the epicenter of all that. Celebrities going from New York to Hollywood had to change trains in Chicago, usually with time for a quick visit with legendary gossip columnist Irv Kupcinet in Booth One at the Pump Room. And cross-country freight, for the most part, also had to make a change in Chicago. It still does. What today is known as the Norfolk Southern Railway serves states to our east. The Union Pacific railroad, as its name suggests, operates in 23 states west of Chicago and New Orleans. On Tuesday, in a deal Cornelius Vanderbilt would have loved, Norfolk Southern and Union Pacific said they had agreed to merge, thus creating, for the first time ever, single ownership for a rail link from the ports of New Jersey to the Pacific Ocean. This is a stock-and-cash acquisition of Norfolk South by Union Pacific that is worth more than $71 billion. It will need regulatory approval. Legitimate concerns unsurprisingly have been raised by unions, which fear job losses flowing from consolidation, and by freight customers, who fear that reduced competition will lead to worse service and rising prices, especially if the similarly aligned rail-freight competitors, BNSF and CSX, feel forced to merge to remain competitive. That's a likely outcome. Clearly, competitiveness for customers has to be maintained and the way to do that in this instance would be to insist as part of the approval process that other railroads get some trackage rights on the newly coast-to-coast Union Pacific rails, a concept known as 'reciprocal switching' in the industry. The proposal also should not be approved without incentives and penalties designed to protect levels of service. On the other side of the ledger, the CEOs of the two railroads have been out there arguing that the merger will mean more freight moves by rail and less by truck, which is obviously good news for anyone who drives on the interstates alongside 18-wheelers. What will this Big Freight deal mean for Chicago? That's no small question, since 25% of all U.S. rail traffic currently originates, terminates, or passes through our immediate area. Some have speculated that a merger would mean fewer trains rolling through northern Illinois, given that there would be no need to hit the start and end points of two different railroads. That would be good in the long term for mass transit in our region, especially Amtrak and Metra, which often share tracks with freight railroads. Anyone who has sat on a passenger train is familiar with the delays caused by the lumbering passage of freight. In this new world, in theory, Chicago would no longer be the main locus of moving cars from one railroad to another. Surely some benefits would accrue. That is something for the regulators to consider. In the industry publication FreightWaves, though, Union Pacific CEO Jim Vena poured cold water on the idea of streams of trains soon taking a different route across the nation. 'We don't see a huge amount of business changing from Chicago to go to Memphis or go to New Orleans,' Vena reportedly said, 'because the out of route miles just don't add up.' But if trains aren't likely to disappear from the notoriously delay-prone crossings in DeKalb County and elsewhere, they should at least move through Chicago more quickly and efficiently. And that should help both local drivers and the many bottlenecks that frustrate rail passengers here. The era of celebrities doing photo shoots between trains here was killed off by coast-to-coast flying. That was a local loss. But freight trains don't stop by Booth One. We'd all be better off with fewer of them. Unless, that is, you rely on moving cargo from one railroad to another for your livelihood.
Associated Press
27-03-2025
- Business
- Associated Press
The Chicago Hotel Collection Acquires Iconic Ambassador Chicago, Eyes Revival of Legendary Restaurant Space
Pump Room's famed space to be reimagined as The Chicago Hotel Collection seeks next iconic restaurant concept. 'We envision a dining experience that brings back the sophistication, energy, and exclusivity the Pump Room was known for. We're looking for the next great name in hospitality.' — W. Pierce Hutchings CHICAGO, IL, UNITED STATES, March 27, 2025 / / -- Chicago, IL – March 27, 2025 – The Chicago Hotel Collection is proud to announce the acquisition of the legendary Ambassador Chicago, a crown jewel of the city's historic Gold Coast and a landmark of timeless hospitality since 1926. This acquisition signals a major expansion of The Chicago Hotel Collection's portfolio of independent boutique hotels and reaffirms its commitment to preserving Chicago's heritage while delivering modern, elevated experiences for today's traveler. Located on a serene, mansion-lined street just steps from the Magnificent Mile and Lake Michigan, the Ambassador Chicago has hosted nearly a century's worth of history – from Hollywood stars and royalty to artists, presidents, and world-class entertainers. With its elegant architecture and storied past, the hotel remains one of Chicago's most beloved icons. 'We are honored to bring the Ambassador Chicago into our growing family of boutique hotels,' said W. Pierce Hutchings, Manager of The Chicago Hotel Collection. 'This isn't just a property—it's a living piece of Chicago history. Our vision is to breathe new life into its legacy while delivering a memorable hospitality experience that captures the spirit of the city.' Reviving a Storied Culinary Legacy Central to the revival is the historic restaurant space, formerly home to the world-famous Pump Room—a cultural touchstone and supper club that once drew the likes of Frank Sinatra, Marilyn Monroe, and Queen Elizabeth II. Known for its gilded Booth One and legendary energy, the venue became synonymous with Chicago glamour from the 1930s through the 1990s. Now, The Chicago Hotel Collection is actively seeking a premier restaurant tenant to reimagine and relaunch this iconic space. The goal: to welcome a world-class culinary partner whose brand and vision align with the location's rich heritage and unmatched ambiance. 'We envision a dining experience that brings back the sophistication, energy, and exclusivity the Pump Room was known for,' Hutchings added. 'We're looking for the next great name in hospitality—something on the level of a Carbone or Papi Steak—to make this space a dining destination once again.' The venue offers a rare opportunity for a standout chef or hospitality brand to create a signature presence in one of Chicago's most revered restaurant settings, surrounded by the architectural beauty and cultural legacy of the Ambassador. Blending Historic Charm with Modern Luxury The Ambassador Chicago currently features 285 thoughtfully designed guest rooms and suites, a stylish lobby lounge, and charming common areas that marry vintage elegance with modern comfort. The Chicago Hotel Collection plans to introduce thoughtful enhancements to elevate the property's offerings while preserving the charm that has defined the hotel for nearly 100 years. Future improvements will focus on refreshed interiors, upgraded amenities, and an elevated food and beverage program designed to appeal to both locals and travelers. Additionally, the hotel's unique spaces—including its wood-paneled Library bar and grand staircases—will continue to serve as sophisticated backdrops for private events, film shoots, and cultural programming. A Milestone in Strategic Growth The acquisition of the Ambassador Chicago marks a major milestone in The Chicago Hotel Collection's broader expansion strategy. With a strong and growing footprint in some of Chicago's most vibrant neighborhoods, the company is dedicated to revitalizing landmark properties with deep local roots and untapped potential. About The Chicago Hotel Collection The Chicago Hotel Collection is a leading independent hotel group focused on boutique, lifestyle-forward properties that reflect the distinct culture and energy of their neighborhoods. With an emphasis on personalized service, thoughtful design, and deep community engagement, the collection creates immersive stays for guests seeking a genuine sense of place. W. Pierce Hutchings The Chicago Hotel Collection Facebook
