Schrager has a new hotel brand, Public. Schrager's Public Hotel Chicago opened in 2011. It was Schrager's first new project as an independent hotelier since 2005, after selling Morgans Hotel Group. Schrager later sold the Chicago hotel in 2016 to Gaw Capital Partners, based in Hong Kong. On June 7, 2017, Schrager opened the 367-room Public Hotel New York, at 215 Chrystie Street in the Bowery district. Public Hotel New York claims to have the fastest hotel wi-fi in New York City, which is free. The idea behind Public New York is "luxury for all," charging an inexpensive rate for quality and service.