Tag: starwood capitalView All Tags
It's officially off-season in Miami and that means the Miami Hotel Mambo is heating up. In this week's number, Miami man Gregg Rory Holland told us that The Perry South Beach which once upon a time not too long ago used to be known as The Gansevoort has closed down for a $100 million renovation.
That's big news in itself. But what's even bigger about it is that the hotel will reopen as a 1 Hotels and Residences from Barry Sternlicht. This will be the first 1 Hotel to open and it will have 417 hotel rooms and 163 residential units.
For the hotel noobz out there, Sternlicht introduced his luxury 1 Hotels concept back in 2006. But the brand was whacked down by the economic fallout of 2008. It took a while but there have been encouraging signs of life again, with 1 Hotels and its sister luxury brand, Baccarat Hotels, planning to open five new hotels by 2015--two of which will be in NYC.
And now the 1 Hotel South Beach is poised to open in 2014.
Hotel News / Starwood Capital / Baccarat Hotels / 1 Hotels / Brooklyn Hotels / Manhattan Hotels / Hotel Openings / Hotel Delays / → All Tags
Quick history lesson: in 2006, we first learned about 1 Hotels, a newly conceived brand by Barry Sternlicht, head of Starwood Capital (which is different from Starwood Hotels, though Barry was a former exec at Starwood, and founded the W brand). Locations were planned for Seattle, New York, Washington DC, Scottsdale, Atlanta, Cleveland, and Fort Lauderdale. Lots of hype was made. The NY Times wrote about it.
Then, bad things happened to the economy, Sternlicht's grand visions unravelled like a sweater caught on barbed wire, and pretty much all of the projects sadly collapsed.
Fast forward to last night, when we received an email from Starwood Capital officially announcing the revival of both brands (1 Hotels and Baccarat Hotels). And not just that: a new timeline has been put in place to open five properties over the next two years.
1 Hotels / Hotel News / Starwood Capital / Barry Sternlicht / Brooklyn Hotels / Brooklyn Bridge Park Hotels / → All Tags
Back in November, we had gotten wind that Starwood Capital Group (remember folks, this is different from Starwood Hotels) put forth plans for a hotel concept at Brooklyn Bridge Park, specifically the 1 Hotels brand.
For those not familiar, 1 Hotels was pitched by Starwood Capital's Barry Sternlicht (the man who created W Hotels) back in the boom years for the hospitality industry before the economy collapse left 1 Hotels as nothing but a big pile of dirt in Seattle. Literally.
But it's a new dawn and a new day for the eco-conscious luxury brand now that they are coming to Brooklyn Bridge Park. Despite some heavy competition from brands like Le Meridien, Marriott Autograph Collection, Dream Hotels, Hyatt and Westin, 1 Hotels have won out! This means that, barring any crazy last-minute economy collapses or changed minds, the 1 Hotel dream will actually come to fruition. We're speechless!
The Starwood Stalker over at Passions of a Zealot has done some nifty spying on Starwood Capital's press releases which show a recent announcement titled, "Starwood to Build World-Class Hotel on New York Public Library Site (Fund VII, Hotel Fund II and 53rd St. Co-Invest" accompanied by the Baccarat Hotels logo.
The hotel they are talking about is the old Donnell Library has long been bandied about as turning into a luxury hotel. But maybe this time it will actually happen as Baccarat was also mentioned as the possible luxury hotel brand in a NY Post article as well.
Yet if it does, we still probably have to wait until sometime in 2014 for it.
Miami Hotel Mambo / Gansevoort Hotels / Starwood Capital / Hotel Rebrandings / Hotel News / → All Tags
It's lights out for The Gansevoort in Miami Beach
Nearly two years after the Gansevoort South/Miami Beach actually ceased to be a Gansevoort Hotel, we've now got word that the hotel has changed its name and will also get started on some much-needed renovations.
Miami-based tipster @DeeTCL tells us the hotel is no longer bank-owned, that Starwood Capital (not Starwood of the W Hotels) has moved in and that the hotel is going by the name, The Perry. Renovations will start soon and will be done in two years. However, despite Starwood's involvement, Coral Hospitality will remain on board as the management company. Already, the Gansevoort's website seems to be defunct while the perrysouthbeachhotel.com is up and running.
The group has just opened a second Postcard Inn Beach Resort and Marina in Islamorada, Florida (the first is in St. Pete Beach) which will continue the "funky retro" beach vibe but which will also feature the very first Shula Burger, a burger joint from legendary football coach Don Shula whose steakhouse chain has also been known to pop up in hotels.
Obviously, the Postcard concept is a perfect fit for resort towns and beach cities but Starwood Capital told Hotels Mag that urban locations could be possible as well as ski resorts. Here's their ambitious expansion plan:
Roy Shanholtz, vice president of asset management for Greenwich, Connecticut-based Starwood Capital Group envisions 20 to 30 Postcard Inn hotels, leading to the sale of a new 3- to 3.5-star brand within the five- to seven-year timeframe of the investment fund. The group already plans to renovate and rebrand a 51-room property it owns in Islamorada called La Siesta and complex it with the newly launched [Postcard Inn] hotel there. Its partner, Hersha Hospitality Management, will operate all the Postcard Inn hotels.
Last week, several possible hotel projects were released for the upcoming redevelopment of the Brooklyn Bridge Park area and amongst all the developers and their fancy architect teams competing for the gig, an eagle-eyed tipster pointed out one of the most interesting ones--1 Hotels.
You all remember 1 Hotels right? From Starwood Capital's Barry Sternlicht, formerly of Starwood Hotels? The dreams for the new eco-conscious luxury brand died when the economy collapsed and all that was left was a big hole in Seattle.
But the times must be a-changing because Starwood Capital is dusting off the plans for 1 Hotel yet again. The proposed 1 Hotel, designed by Bernheimer Architects, looks very Standard NYC-inspired (in that it's very boxy) although its location right on the waterfront is very cool. The hotel will have about 170-225 hotel rooms, a restaurant (The Brooklyn Park Brasserie), a cafe (The Daily Bread), a spa, a mini-farmer's market stall right out front and some residences.
Judging from exterior alone, there's nothing that really wows us about the 1 Hotel. Then again, we've long suspected it's what will be inside the 1 Hotel brand that will make them stand out.
Yesterday we reported that the Viceroy Anguilla had been sold to Starwood Capital which had us concerned for the future of the Viceroy brand. Even though Viceroy Hotel Group is primarily a management company, nothing is for certain when a sale is involved.
However, the hotel's reps have assured us today that the Viceroy will remain a Viceroy.
Citibank has recently marketed for sale the loan secured by the Viceroy Anguilla. While the ownership of that loan may change hands, Viceroy Hotel Group’s management of Viceroy Anguilla as part of its Viceroy Hotels & Resorts brand remains unchanged.
Phew. That's good to know. Of course, these things can always change again in the future and we'll do our best to keep you updated.
Got the goss on what's happening with Viceroy Anguilla? Slip it to us!
The Daily Herald, a small island publication, reports that the hotel, which only opened last December, has been sold to Starwood Capital, ole' Barry Sternlicht's company. (Remember, Starwood Capital is different from Starwood Hotels.)
As it turns out the previous owners of Viceroy Anguilla (that would be Viceroy and their partner, the Mubadala Development Company) had not completed its loan payments, forcing Citibank to come in and take over the property. It was Citibank who completed the sale of $500 million to Starwood Capital.
Barry Sternlicht / Starwood Capital / London Hotels / Hotel News / Hotel Rebranding / Guoman Hotels / → All Tags
The London Hotel Scene is sooo hot right now what with a W Hotel, a Tune Hotel, a Thompson Hotel, an Aloft Hotel, a Heliport Hotel and the reopening of The Savoy all happening within the next year. But the scene may get even hotter.
Bloomberg News reports today that the Royal Bank of Scotland sold The Cumberland Hotel on Great Cumberland Place to London & Regional Properties Ltd. and Starwood Capital Group LLC aka Barry Sternlicht's hotel group.
Will Molly visit Barry at an Extended Stay hotel?
Two years ago at this time we were all salivating over the luxury hotel plans put forth by former Starwood-er Barry Sternlicht, the man credited with the success of W Hotels, who intended to build hotel brands around the Crillon Hotel in Paris and the luxury crystal maker Baccarat. In addition to those brands, Sternlicht would also develop 1 Hotels, a high-end, green boutique hotel brand.
To date, none of these hotels have come to fruition thanks to the hospitality industry's spectacular downfall (dropping rates, laying off staff, foreclosures, etc) in the wake of the economic crisis of 2009.
So Barry is doing something different these days, like buying Extended Stay Hotels through his Starwood Capital investing firm.
Golden Tulip Avegoor, Netherlands
Starwood Capital seems to be cultivating a garden of sorts. A garden full of tulips, if you will. Golden tulips, even.
According to Private Equity Real Estate:
Starwood Capital has entered into exclusive talks to buy the Swiss hospitality group Golden Tulip creating one of the world’s largest hotel companies.
The Greenwich, Connecticut-based private equity real estate firm said in a statement it was planning to merge its budget hotel company, Louvre Hotels, with Golden Tulip once the deal was closed on 26 June.
Whatchya gon' do with all them tulips, Starwood Cap? Apparently, the alliance with Louvre is going to "create a hospitality company with 1,070 hotels in more than 40 countries and comprising around 82,000 rooms" that will be better positioned to target corporate accounts.
Oh, if you're not familiar with the Golden Tulip brand: there's only one of 'em in the US, in Bethesda, MD.