Starwood Capital has announced plans to launch a new international luxury brand called the Crillon.
The company plans to develop European-style Crillon hotels and serviced residences worldwide through its Société du Louvre affiliate.
The Crillon brand will build on six-star Paris Hotel de Crillon’s name recognition for its reputable service and facilities. Crillon Paris is also anticipated to undergo continuing upgrades in the near future.
Starwood plans to develop Crillon hotels both independently and in partnership with other developers and owners. The Group will target city properties, which may include London, Rome, Barcelona, New York, Los Angeles, Chicago, Las Vegas, Tokyo, Shanghai, Beijing, Hong Kong, Delhi, Mumbai, Dubai and Qatar.
Starwood Capital is already working with potential partners on sites in several of these cities.
Resort destinations may follow in the Caribbean and Far East, and in ski markets such as Starwood’s recently acquired Mammoth Mountain in California.
The hotels and residences will include a full complement of amenities including a world-class personalised service, spa and fitness facilities, dining using the services of its affiliated world-class chefs and, in some instances, a residential component.
In addition, each Crillon may include a Baccarat-inspired bar and a Taittinger Champagne lounge – two companies which are now part of the Société du Louvre family of brands acquired in January this year by Starwood Capital for US$3.2bn (£1.8bn, 2.7bn euro).
Barry Sternlicht, Starwood chair and chief executive officer, said: “Starwood Capital intends to pursue a brand growth strategy behind one of the European and global icons of the luxury hotel market. Utilising the backing of the US$2.4bn (£1.4bn, 2bn euro) raised by Starwood Capital in its two funds last year, we will build and partner with global developers to expand this brand into the world’s most important travel markets.”
In 2005, Starwood Capital raised more than US$3bn (£1.7bn, 2.5bn euro) of equity capital and invested more than US$1.7bn (£1bn, 1.4bn euro) in the hospitality sector on behalf of its investors.
