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Incoming Marriott International CEO Arne Sorenson and Marriot Edition Brand Creative Director Ian Schrager on the company’s attempt at a boutique ho...
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Mary -- forging ahead with its newest hotel brand -- despite -- -- setback in the last half of 2011.
At its former Waikiki location joining me now that inside look at the future of the addition brand.
Marriott international's incoming CEO RD Sorensen an addition brand creative director and hotel industry it led by the way in Shanker.
Great to meet you both.
You make your -- -- here let's talk about addition.
Are you had some issues obviously in with the Hawaii property in financing what have you learned.
From that and how do you changed the marketing an obvious the financing of the addition brown Angela.
Not so much what we learned from Waikiki because Waikiki is a one off story it's an ugly lawsuit which is frustrating pressed for lots of respects and we think.
That story has yet to be told in its entirety.
We look forward to telling that story.
We're really really don't reasons you can't allow us not just in and I just really are reasons for us it's -- that interest into the brand as a whole -- -- for the brand as a whole as we started with in a few years back right before the wheels came off the economy.
We were we have great amenable we've got going but not surprisingly many of the deals that -- working -- 2007 cratered with the economy.
We struggle through 20082009.
Watching the world fall apart.
But its 2010 and we decided to what we really need to take control of some assets some really quality assets or to get this brand going.
So we bought up a property in Miami Beach the former -- hotel.
We've had bought a property in London called birders.
And last week we closed on the clock tower building in Manhattan is all of which will become great addition hotels you know excited about.
Well -- in I mean this is a big change for you your teaming up with a major.
Global partner like Mary out exciting but you yourself for such an icon in the hotel industry all -- for you what made this partnership appealing to.
Well it's something I've never done before in my -- candy store operated when a couple of -- Over the last 25 years have been -- -- -- successful.
But GAAP Tunisia apartment -- -- -- and and take some of these ideas and creative new -- -- hotel and reinvent the industry but something to.
You adjustable do you know combining two hotels that have really great style.
-- cutting edge proven to have its content but then layman -- we've left the personal modern therapist.
They have -- -- operational expertise.
That you are.
In negotiated -- that the king of the boutique hotel and curious Arnie hi you take.
His vision and and what he -- -- in the past and incorporated into addition.
While but also mean you wanna preserve the -- brand if indeed addition becomes this massive success for you not -- -- stamp on it -- is what.
Yeah -- work but we recognize where we have expertise where we don't.
And so when we started in this space we thought you know we've got expertise in running the big operation and hotel operations and taking care guests & Associates and building careers and -- global platform.
But we really didn't have tremendous expertise in this space which in invented it -- which is around really distinguish product to meet those he talks about all the time.
And how do we how do we find expertise so we went to the man who invented it -- and basically said we need your expertise and to some extent we need the permission you give us to be in this space.
You know it -- and you also your your your hotels the passive cater to such a high end clientele high and consumer and depending on which -- that you say and throughout the world.
That -- -- an incredibly high and experience Hawaii -- around the world obviously for you.
So at the same time you're you're you're -- aren't gonna collapse of the high consumer what do you think is gonna bring them in the door -- reprimand -- -- perspective for you.
Well I mean the most important thing for this for ended.
Prior distinction we're looking to go -- doing something.
Nobody else is doing doing something -- -- -- and something cutting edge and you know something attractive to everybody I mean you kidding that type cuts.
It kind of you know listen to something that we had to make people because -- kind of well done.
I mean it's politically what we're doing is going back to good old fashion.
Could taste and what we've done before when poor design and digital space who had been adopted by the -- fifteen -- -- Frankenstein monster.
And -- I mean obviously who do you think your biggest competitors going to be and they are you looking to take on basically The W.
Hotel with this new.
The snow line -- a -- thank you ruled that the toughest competitors in the space rock.
There are some special hotels in this space there -- number of hotels which I think are -- a great design statements.
In our interest in.
I don't think anybody really has on the scale yet.
Combined the design and product distinction with good service.
It -- you gotta take one or the other so in some places you gotta fight through a bar scene to have -- -- night's sleep.
The night's -- in -- compromised in the service may not be very good we want to make sure we have something that's really lively and something that people can connect with deeply.
But also that they get treated the way they should be treated.
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- For -- what are you looking to into does well.
Well I think 2012 is going to be better than you might fear Europe -- probably worried about more than anyplace else obviously the European governments are in the tough.
Place right now.
They don't have a lot of tools to use on the other hand you still have incredibly exploding travel from Asia in from the rest of the developed world.
-- in the United States we've got probably more confidence today than we did two or three months ago.
We ended 2011 with pretty strong performance.
Across the industry not talking necessarily about there is numbers because we will release -- a while yet.
But when you look at that industry data that was reported through the end of the year people are traveling business people are traveling there holding meetings these are people are traveling between 2012 should be good.
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