Word: hotelful
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...private room at a posh shinjuku crab restaurant, five twentysomethings surround Noboru Koyama, 60, CEO of Tokyo cleaning company Musashino. Koyama looks at his watch--it's 8:30 p.m.--and announces that the party is moving. "O.K.," Koyama says briskly, "we'll do hotel bar, sushi, drag-queen show, hostess club, in that order." The young salarymen, who volunteered to spend Saturday night with their boss, gasp. "We're going...
...luxury has become a commodity for everything from handbags to haircuts, élite hotel chains like the Four Seasons and the Ritz-Carlton have begun to seem ho-hum to the growing ranks of superrich travelers. Yet despite pent-up demand, less than 1% of the 19 million hotel rooms on earth are deemed "ultraluxury." That's an emerging category defined not only by price but also by the distinctive décor in every room, attentive, personalized service and exclusivity--why would you want to hang out with people who aren't as rich as you are? These...
...three years, according to lodging consultant Bjorn Hanson of PriceWaterhouse Coopers. The challenge? "It's about creating a luxury that is truly designed around the individual's needs," says Horst Schulze, former president of the Ritz-Carlton. "To accomplish that is an art." Schulze launched the more exclusive Capella hotel line in Austria and Ireland this summer and is planning outposts in Jakarta, Düsseldorf and Cabo San Lucas...
Global tourism is thriving, and the luxury segment, the top 15% of the market by price, is driving it. With rates as high as $25,000 a night, these are the most profitable rooms in a hotel, and they consistently have the highest occupancy rates. Revenues from luxury rooms grew more than 10% from 2005 to 2006, outpacing overall room revenue, which gained 8%, according to Smith Travel Research...
...globetrotters who define this niche, a chain hotel, no matter how ritzy, just won't do. "The resort sector was a little tired and cookie cutter," says America Online founder and former chairman Steve Case. His own frustration as a traveler led him in August to invest in Cacique, an $800 million, eco-friendly resort planned for Costa Rica's northwest coast. To stand out in the crowded luxury field, a boast about sheets with a thread count of 1,200 isn't enough. So Case and other hotel developers are trying to create a new model for luxury. Unlike...