Your friends or colleagues will likely raise their eyebrows when you tell them you're staying at the Peninsula. It's a gold standard of luxury for Chicago hotels, a place that knows hospitality. But rather than overwhelm you with ostentatious display, the Peninsula takes a more minimalist approach: plush furniture, small but precious chandeliers in the lobby, clean lines and quiet flourishes in the guest rooms.

Those rooms are outfitted with complimentary high-speed and wireless Internet, a mini bar, a flat screen TV with DVD player, shower and soaking tub, and a bedside panel that allows guests to control the lighting and appliances. Downstairs, four restaurants offer contemporary, Chinese, light and European cuisines; most notable is the award-winning Avenues, led by chef Graham Elliot Bowles, named one of Food & Wine Magazine's Best New Chefs in 2004. Executives mingle in spacious meeting rooms designed and named along aviation themes, then recharge in the award-winning Peninsula Spa and fitness center (complete with a half-Olympic-length pool) while enjoying gorgeous views of the Hancock, Water Tower and Magnificent Mile skyscrapers.

For all these amenities, expect to pay $500-$600 per night for a room or up to $1,000 for a luxury suite. Guests taking advantage of special packages earn discounts at Michigan Avenue shops or VIP treatment for their kids. Afternoon tea ($26 per person) is served each afternoon in The Lobby.

Centerstage Reviewer: Justin Sondak