Word: million
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Dates: during 1990-1999
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After the war ended in 1953, he studied in Beijing; then he came back to teach in Changsha. In 1958 he was one of half a million intellectuals who lost their jobs in Mao's anti-rightist campaign. This was the beginning of two decades in the political wilderness for Peiyuan that would culminate in labor camp. "I lost the golden years of my life, from 1958 to 1979," he says...
...early 1960s: the peasants wanted the wooden beams for their backyard iron smelters, which Mao thought would transform China into an industrial power. Most of the iron was worthless, and the neglect of agriculture led to the worst famine of the century, in which more than 20 million people starved to death. Peiyuan's "first mother"--his father's first wife--died of hunger in 1962, but the twins' mother--the third wife--survived and held together what was left of the family. They were destitute...
...either love them or hate them," says Bill Kimpton of Schrager's work. He's a former investment banker whose $400 million-a-year, 28-property boutique chain is one of a host of competitors, large and small, who are out to spoil Schrager's good time. Kimpton caters to less image-conscious business travelers who still prize a little personality, including free tarot-card readings, back rubs or goldfish. The San Francisco-based dynamo is establishing a growing national presence, converting bank buildings and department stores in places like Denver and Portland into small, Euro-style hotels...
...magazines a week, is proving style and attitude are profitable. He has consistently enjoyed 80% to 90% occupancy rates at his properties; the industry average is about 65%. This year, with only six hotels now going at full speed, he expects to turn an operating profit of $120 million, and in a few years his company could be worth $2 billion...
...just design and marketing. He's a very efficient operator," says Edward Scheetz, a partner at real estate investment firm Northstar Capital, which, with help from financier George Soros, has shelled out a few hundred million dollars for a majority stake of the newly incorporated Ian Schrager Hotels. For instance, nearly everything in your room, from sheets and towels to toilet brushes, is for sale. Schrager's even giving thought to opening stores to sell these wares. And he leases in-house restaurants and bars, which can typically be a major drag on hotel earnings...