Ian Schrager was born on July 19, 1946 in New York City, New York, USA. He has been married to Tania Wahlstedt since November 15, 2008. They have one child. He was previously married to Rita Noroña.
He and Steve Rubell gained fame as the co-owners and co-founders of disco Studio 54.
Partnered with Arthur G. Cohen in creating some of the first boutique hotels in New York City; they also acquired and renovated the Royalton Hotel, the Paramount Hotel, and the Barbizon Hotel.