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Hotel Burnham Changes Hands, Is Rebranded

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The Alise Chicago Hotel (formerly Hotel Burnham), Chicago

Another downtown boutique hotel has changed hands and is getting a new name in the process. The Hotel Burnham, named after one of Chicago's most iconic architects, is now known as the Alise Chicago. Pineapple Hospitality bought the hotel in the Daniel Burnham-designed Reliance Building from Lone Star Funds for an undisclosed sum.

The name change is immediate: new awnings bearing the Alise Chicago name are already being designed, according to DNAInfo. The reason for the name change: brand synergy. Pineapple already has an Alise in San Francisco that offers dog-friendly accommodations and free bike rentals—expect the same to come to Chicago. For locals miffed about the name change, Pineapple has re-christened the hotel's meeting room after Burnham.

Lone Star placed the 122-room hotel on the market in July. It bought the hotel out of foreclosure for $35.2M in 2014 and was seeking bids of at least $39M from buyers. [DNA]