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News and Information Article
First Five Star, Environmentally Friendly Hospitality Brand Will
Demonstrate That Style and Luxury can be Delivered With Ecologically
Sustainable Consciousness
First Five Hotels to Debut in Paris, France; Seattle, WA; Scottsdale, AZ;
Mammoth Lakes, CA; Ft. Lauderdale, FL
Starwood to Form Exclusive Joint Venture With Steve Hanson and BR Guest to
Deliver Unique Dining Concepts for 1
GREENWICH, Conn., Oct. 18 // -- Starwood Capital Group, led
by Barry Sternlicht, announced today the launching of "1" Hotel and
Residences, the first luxury, eco-friendly global hotel brand. The concept
will combine the best of environmentally sustainable architecture and
interior design with impeccable service and luxurious comfort. "1" will
adhere to green construction and operating principles and commit to
environmentally sensitive consumption of natural resources. "1" will
demonstrate that green principles can coexist and enhance a luxury
hospitality experience and healthy residential lifestyle. The Natural
Resources Defense Council (NRDC) has agreed to be an environmental advisor
on "1" with the initial goal of setting a new standard for environmental
excellence and, over time, to transform the entire hotel industry.
"We are incredibly excited to be able to bring a whole new concept to
the hospitality industry with the launch of the "1" brand. As a CEO and
parent of three young children, I have grown acutely aware of the personal
responsibility we each have to help preserve and protect our planet, which
can only happen through the accumulation of small efforts by millions of
individuals. It is the perfect time for "1". With such critical issues
facing us as foreign energy dependence and global warming, we cannot afford
to ignore the growing consumption of our natural resources and the
inability to sustain our enterprises," said Mr. Sternlicht.
"While some hotel brands pay lip service to the environment by asking
guests to reuse towels, and adding plants to a lobby, "1" is not using
eco-friendly jargon simply as a marketing tool. Our intention with "1" is
to build hotels and residences that are truly green and minimize their
impact on their environment. We are excited about our partnership with the
NRDC. Each property will donate one percent of its revenue to local
environmental organizations guided by a steering committee with NRDC
representation. All of our buildings will be built to LEED standards and
all of our interiors will be LEED-compliant," continued Mr. Sternlicht.
"1" will be about light and air. "1" will be fresh, invigorating and an
alternative way of traveling and living. Guests and residents will not
necessarily be conscious of all of the green aspects at "1," but they will
be delighted by the richness, beauty and variety of colors, textures and
materials. The green theme will only be noticeable to the extent that it
will help create a healthy and invigorating environment. Enhancing this
experience, we are thrilled to announce a new exclusive partnership with
Stephen Hanson, perhaps the premier multi-site restaurant operator in the
United States. Steves team at BR Guest will power the dining, banqueting
and room service experiences at each of the "1" properties," Mr. Sternlicht
said.
The initial four properties in the United States will all be new
construction. The first hotel will be the "1" Hotel and Residences Seattle
expected to open in late 2008. Following Seattle, "1" will open in the ski
resort of Mammoth Mountain, California; in Scottsdale, Arizona; and in Ft.
Lauderdale, Florida. The first international "1" hotel will be located in
Paris, France and will be a renovation of a historic property. In addition,
we expect "1" to enter New York, Los Angeles, Washington, D.C. and other
major urban markets, as well as premier resort destinations, within the
next 12 months. The aim will be to have 15 hotels signed or under
construction within 24 months. The five hotels are owned by controlled
affiliates of Starwood Capital Group Global, LLC.
The development of "1" is being guided by an exemplary advisory Board
which includes, among others, Prosper Assouline, Founder and Creative
Director of Assouline, Sandra J. Brant, President and CEO of Brant
Publications, Inc., Kevin Huvane, Managing Partner, Creative Artists Agency
and Candy Pratts- Price, Executive Fashion Director of Style.com. "I have
been working with this Advisory Board for quite some time. They bring
unique insight and vision to modern-day brand building and are equally
committed to the preservation of our environment," said Mr. Sternlicht.
The NRDC strives to help create a new way of life for humankind, one
that can be sustained indefinitely without fouling or depleting the
resources that support all life on Earth. For more than three decades, NRDC
has fought successfully to defend wilderness and wildlife and to protect
clean air, clean water and a healthy environment. "NRDC looks forward to
working with the creators of "1" to help create exemplar environmental
projects that can be models for the entire hotel industry," said Ashok
Gupta, an energy expert with NRDC.
Each new "1" will be built to LEED standards. The Leadership in Energy
and Environmental Design (LEED) Green Building Rating System(TM), created
by the U.S. Green Building Council, is the nationally accepted benchmark
for the design, construction and operation of high performance green
buildings. LEED promotes a whole-building approach to sustainability by
recognizing performance in five key areas of human and environmental
health: sustainable site development, water savings, energy efficiency,
materials selection, and indoor environmental quality.
Also important to the brands identity will be its unique operating
model. Each operating unit of hotel properties will be managed by industry
leaders. Mr. Hansons restaurant company, BR Guest, will provide an
innovative restaurant, banqueting and room service program. "Im thrilled
to be a partner on the "1" concept, as it mirrors many of our values such
as environmental stewardship and supporting local farmers," said Mr.
Hanson. "We will seek the premier local chefs who understand and support
our mission. Barry Sternlicht is a great visionary, one that Ive worked
with for more than five years, and there is no one Id rather be partners
with in this exciting venture."
The spas at "1" will also be managed by a world-class operator and will
be an extension of the brand experience featuring unique treatments and
programs for the revitalization of body and soul. Additionally, a new
concierge concept with unparalleled personalization will ensure all that is
needed, and most of what can be imagined, will be provided effortlessly.
Each "1" will also include a state-of-the-art fitness center as well as
several other components to be announced in the near future.
Barry Sternlicht is widely known for revolutionizing the hospitality
industry during his tenure as Chairman & CEO of Starwood Hotels and
Resorts. He is credited with innovations such as his creation of W Hotels
brand, the repositioning and revitalization of Westin Hotels & Resorts (led
by innovations such as the Westin Heavenly Bed, and Heavenly Bath) and the
brand development of the St. Regis Hotels which started with a single hotel
as well as the creation of the award-winning Starwood Preferred Guest
frequent stay program.
STARWOOD CAPITAL GROUP GLOBAL LLC:
Starwood Capital Group Global LLC has been a leader in real estate
investments since its inception in 1991. Its international investor base
includes some of the United States largest state and corporate pension
funds, endowments and foundations, and high-net worth families. During the
past fifteen years, Starwood Capital and its affiliates have invested
approximately $5.8 billion of equity capital in transactions totaling more
than $25 billion. Starwood has closed and/or advised on more than 215
transactions, acquiring equity interests in thousands of residential lots,
multifamily and condominium units, hotels, office, retail, industrial, and
golf and leisure-related properties. Starwood Capitals most recent
transactions include the $3.2 billion acquisition of Groupe Taittinger and
Societe du Louvre, (Europes second-largest hotel network which owns and
operates a unique collection of 14 luxury hotels in France, Switzerland and
Europe in addition to the more than 800 budget hotels under four flags
located throughout Europe); and the $973 million acquisition of the Le
Meridien hotel portfolio comprised of 32 luxury hotels located primarily in
Europe, North America, Africa and South America. Starwood Capital has led
the formation and growth of several successful companies including iStar
Financial, the leading publicly traded finance company specializing in
commercial real estate mortgage, mezzanine and net lease financing;
Starwood Hotels & Resorts Worldwide, a leading global owner/operator of
hotels, with ownership of brands such as Sheraton, Westin, The St. Regis
Luxury Collection and "W"; and National Golf Properties/American Golf
Corporation, the largest owner/operator of golf courses in the United
States.
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