Marriott Wins Flag Contract For $400M Chicago Hotel

Law360, New York (September 16, 2013, 2:18 PM EDT) -- Beating out competitor Hilton Worldwide Inc. in a bid race, Marriott International Inc. on Friday was awarded the prized management and flag agreement for a proposed $400 million convention center hotel in Chicago.

In a unanimous vote, the Metropolitan Pier and Exposition Authority board approved Marriott's $13.6 million bid for the 10-year contract, Mary Kay Marquisos, a spokeswoman for the agency, told Law360. Hilton had proposed a contract iwth a net present value of $15.8 million. The approval puts the Marriott Marquis flag at the helm...
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