Ritz headquarters currently occupy 35,000 sf on the third floor of Monarch Plaza in Atlanta's upscale Buckhead neighborhood, where office rentals average approximately $26 per sf, according to area brokers. The move will take place in summer 2003, says the firm's spokesperson.
In a written statement, company representatives said that all 142 headquarters employees have been offered relocation packages. "Our hotels will continue to be managed by us," the spokesperson added. "The move will have no impact on the operation."
Ritz-Carlton was founded in Atlanta in 1983 with the purchase of the Ritz-Carlton Boston and rights to the Ritz-Carlton name. It operates 45 hotels worldwide consisting of 31 urban properties and 14 resorts.
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