Ritz headquarters currently occupy 35,000 sf on the third floorof Monarch Plaza in Atlanta's upscale Buckhead neighborhood, whereoffice rentals average approximately $26 per sf, according to areabrokers. The move will take place in summer 2003, says the firm'sspokesperson.

In a written statement, company representatives said that all142 headquarters employees have been offered relocation packages."Our hotels will continue to be managed by us," the spokespersonadded. "The move will have no impact on the operation."

Ritz-Carlton was founded in Atlanta in 1983 with the purchase ofthe Ritz-Carlton Boston and rights to the Ritz-Carlton name. Itoperates 45 hotels worldwide consisting of 31 urban properties and14 resorts.

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