Major Re-Fi In Works For Schrager Hotels?

NEW YORK— Several financial sources have told HOTEL BUSINESS® Ian Schrager is in the process of refinancing several of his hotels— to the tune of nearly $400 million. The word is Sonnenblick-Goldman has been lined up by Schrager to raise new capital for the Hudson, Royalton and Morgans in New York, the Delano in Miami, and Le Mondrian in Los Angeles.—Michael Billig