When you add all these big name hotel
chains together, clearly there is going to be
a major excess of inventory. The number
of service industry providers is growing
at a much faster rate than the demand is,
meaning that only the best of the best will
be able to continue operating competitively
while standing to gain the same amount of
profit.
At this stage, the world does not really need
another product or service. We are already
cost cutting to stay competitive and keep
the rooms occupied. The reason this is very
challenging is because as consumers, we
continue to raise our standards. Fast forward
5 or 6 years, and we begin to understand
where hospitality is going to land.
Since the world’s wealth is not increasing
at the same rate as the inventory, one of
two things is going to happen. The brands
who really know what they are doing will
be able to raise their prices to pay for the
increased services and amenities, which
will set them apart from their competition.
Knowing how to communicate successfully
with consumers and potential consumers is
key here. The 5-star arena is getting very
crowded, so the new level of luxury will be
deserving of that 6th star.
Those who are not able to do so will end
up cutting their prices to keep their rooms
occupied. This paves the way for a new
luxury—the type of luxury that I just
experienced at the Hotel de Crillon in Paris.
Competitors in Paris, which boasts amazing
top tier luxury hotels like the Ritz, Georges
Cinq and the Plaza Athenee, are realizing
54 ILHA
there is new game in town that has definitely
upped the standard. To achieve this level
of luxury and style requires achieving
excellence in every department. It needs
to be the best location, working with
celebrated architects and interior designers
who will create a space that chefs, service
teams and concierges will bring alive. To
create bespoke luxury experiences for the
guests takes an added touch of creativity,
which means investing the money to make it
happen.
To paint a picture, imagine a structure whose
architectural beauty alone can draw tourist
attention. A member of the Saudi royal
family (who bought the property in 2010)
overlooked the renovation, which took more
than 5 years. To give an indication of the
competition within the industry, the Ritz
Paris and Hotel Plaza Athenee also closed
for renovation during that time.
In my opinion, since the renovation, the
Hotel de Crillon is one of the most luxurious
hotels the world has ever seen. I’ve never
seen a hotel that was so sumptuously and
lavishly decorated. At times I felt as if I
were walking through a museum of French
history; one of the rooms is famed for
having hosted Marie Antoinette while she
took piano lessons!
Marble bathtubs, carved out of one solid
piece of marble, were brought in with a
crane. The crystal throughout the hotel
is extraordinary, lining everything from
the light fixtures to the mini bar. The 114
guest rooms share the space with 3 grand
apartments on the top floor, a barbershop,
pool and even full cognac bar. To sum it up,