Author of www.HotelLawBlog.com
20 October 2006
Yesterday, I said that hotel mixed-use developers should pay attention to two breaking news items. One was Barry Sternlicht’s “1” Hotel and Residences. The other is Hilton’s plans announced October 18, 2006 to add Waldorf=Astoria branded Residences to the top of the Conrad Hotel Las Vegas. Both of these announcements emphasize the importance of brands in the hotel industry and creation of two high end brands by industry power houses in two very different ways. Sternlicht is creating a fresh, new eco-friendly brand from scratch. Hilton is seeking to build its brand from the base of an internationally recognized icon.
But beyond all that, why is this significant?