Pundole leaves boutique hotel brand King & Grove

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17 June 2012 | Updated 17 June 2012

US: New York entrepreneur Ben Pundole has reportedly left boutique hotel brand King & Grove.

According to the New York Post, Pundole had been promised by King & Grove owners Joseph Chetrit and Ed Scheetz that he would have ""ownership and control of the company" and that they would "turn him into the next Ian Schrager".

Pundole reportedly resigned by e-mail last Thursday and is "believed to be going to work with Schrager himself".

King & Grove owns 12 properties, including the Chelsea Hotel,  Ruschmeyer's in Montauk, the Bossert in Brooklyn and Hotel Williamsburg. The NY Post report says Chetrit and Scheetz - the former CEO of Morgans Hotel Group  - are now in talks with Sunset Tower Hotel owner Jeff Klein and his business partner Peter Krulewitch. It is thought Klein will become a partner in the business.

The report quotes a source who said: "Ben has been treated pretty unfairly. Ben created Ruschmeyer's, which has been a wild success, and was the creator of this new hotel brand. He found and hired most of the employees and even found the Williamsburg, which they purchased on his suggestion, and now he's walking away with nothing. Chetrit and Scheetz are taking his hard work, contacts and hip following."

The source added: "Klein becoming an equal partner makes sense. He's investing a lot of money, he has more experience and a proven track record in hotels, and his style is sophisticated and expensive."

www.kingandgrove.com

17/06/12

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