From Hilton to Hyatt and everyone in between, several of the industry’s biggest players are adding to the growth of the luxury market with new and improved properties.
“All of the chains have either tried to expand their offerings at the luxury end or introduced new offerings,” says hotel industry consultant Sean Hennessey, CEO of Lodging Advisors in New York City. “In addition, there are new chains that are being formed that cater to the luxury segment. Everything is moving toward the upscale sector.”
With the advent of new luxury brands and improved properties, mainstays such as Ritz-Carlton have had to refurbish their image.
“The old Ritz-Carlton was a nice box, but now they realize that they are not just competing against the Four Seasons, but six or seven other properties,” says consultant Steve Hennis, managing director of Arvada, Colo.-based Hospitium. “Ritz-Carlton projects are becoming more unique for their location and more contemporary.”
Here are some examples of new and expanding luxury brands:
- Andaz: A new luxury brand from Hyatt Hotels & Resorts, Andaz will make its U.S. debut in 2009 with two hotels in New York City.
- Baccarat and 1 Hotels: Starwood Capital Group recently introduced two luxury brands: Baccarat and 1 Hotels and Resorts. Baccarat hotels will focus on elegant touches with its first property opening in Maui’s Wailea Resort in 2010, while 1 Hotel & Residences will be a five-star, environmentally friendly brand, first opening in Seattle in late 2008.
- JW Marriott: Marriott Hotels is experiencing success with its high-end JW Marriott brand, known for top-of-the-line meeting space, spas and well-appointed guest rooms. The fast-growing brand has 20 properties under construction worldwide.
- Shangri-La: Shangri-La Hotels and Resorts, a mainstay of Asia’s luxury market, is opening its first North American hotel in Vancouver this year and also has hotels under way in Chicago, New York, Las Vegas, and Miami.
- Trump Hotel Collection: Donald Trump recently launched the Trump Hotel Collection and opened a new property in December 2007 in Chicago. Trump properties are also under way in destinations that include Waikiki and Las Vegas.
- Waldorf=Astoria: Hilton Hotels launched the Waldorf=Astoria Collection in January 2006, which includes the Grand Wailea Resort Hotel & Spa in Maui as well as the Arizona Biltmore Resort & Spa in Phoenix. Upcoming additions to the collection include properties in Orlando, Los Angeles and Lake Las Vegas.
