An employee told me that Hotel Monaco will begin a nine-month top-to-tail renovation soon in preparation for becoming the Lotte Chicago (Lotte is a high-end Korean chain that is moving further into the US market). They're closing the restaurant and gutting the whole lower floor as they remodel all the rooms. Opening projected for spring/early summer 2024.

Obviously this means the Monaco will no longer be a part of Kimpton or IHG, leaving the Gray as the only Kimpton-affiliated hotel in downtown Chicago.

The employee, who had been at the Monaco pre-IHG and loved working for non-IHG Kimpton, will be moving over to the Lotte. Said that IHG has severely devalued the Kimpton properties (and I agree).