Barry Sternlicht, Chairman and CEO of private investment company Starwood Capital Group has unveiled a luxurious modern hotel brand, Baccarat Hotels & Residences. The brand has been created to enter the upscale hotel market with the name of the world-renowned French crystal maker.
The opening of Baccarat New York will re-introduce the venerable company in the minds of consumers as an inspirational lifestyle brand. Baccarat was created in 1764 by decree from King Louis XV. The company still operates and manufactures its products France. Throughout its history, Baccarat has designed magnificent crystal objects for some of the world's most colorful and important figures, such as Czar Nicholas II and the Maharajah of Gwalior.
In keeping with the illustrious traditions of Baccarat, the overarching goal of Baccarat Hotels is to create the perfect hotel stay. Inspired by the crystal company's insistence on perfect—nearly 60 percent of what is created is not deemed fit for sale –Baccarat Hotels will offer impeccable service, through a combination of innovative technology and the redesign of traditional hotel operating procedures. Baccarat Hotel & Residences New York, a partnership between Starwood Capital and Tribeca Associates, a New York based real estate development and acquisitions company, will open in 2014 in time for Baccarat's 250th year anniversary. The project is located at 20 West 53rd Street, just off Fifth Avenue. The tower will rise 605 feet and contain 46 stories. Architecture firm, Skidmore Owings & Merrill, and interior designers, Gilles et Boissier, have created a building that literally glows from the inside out with crystal and light. This jewel box of a building will feature 114 rooms including 26 suites, as well as luxury residences that will feature hotel services and amenities as well as the latest technological innovations. The residences are anticipated to go on the market in January 2013. Future Baccarat locations are planned in some of the world's most important urban and resort locations, with Rabat and Foshan, China scheduled to open in early 2014, followed by Dubai, Marrakech, and other locations in the Middle East and Asia.
"A truly iconic European luxury brand now enters the hotel segment," said Sternlicht, the founder and former CEO of Starwood Hotels & Resorts. "Baccarat's name is synonymous with hand-crafted quality and a nearly 250-year-old pursuit of perfection. We're excited to introduce a new super luxury hotel to NYC, the world's most important travel market. We expect to truly innovate the service standards for a luxury hotel, embracing state-of-the-art technology solutions and creating an overall experience that is sensuous, luxurious and discreet, and yet supremely comfortable. In our design, we will celebrate the qualities of light and we will design new specialty decorative products for both the hotel and the spectacular residences."
Distinct from existing luxury hotel brands, Baccarat New York will marry modern European glamour with architecture and design influenced by its urban location across the street from The Museum of Modern Art. Baccarat New York will include a Baccarat Spa, a fitness center and indoor pool; a unique "B Bar" ensconced in a crystal pavilion which will be wrapped by a garden terrace; intimate meeting salons; a distinctive restaurant; and a curated collection of Baccarat products for sale.
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