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Emanuel Gambles Chicago on NATO Event to Get Global Stage

Laurence Geller, who runs luxury hotels around the globe, figures it will cost him half a million dollars when his adopted hometown, Chicago, hosts world leaders this month at a North Atlantic Treaty Organization summit.

That’s his estimated bill for increased security, staffing and canceled reservations from tourists wanting to avoid the swarm of demonstrators, police and diplomats at the May 20-21 event. Geller, chief executive officer of Strategic Hotels & Resorts Inc., will gladly absorb the loss because the meeting may be a turning point for a city, he says, where short-term thinking has replaced boldness.