Luxury hotel launch red carpets over recession
Hours after G-20 leaders agreed to a trillion-dollar bailout of the world economy in chilly London, one of the world's most flamboyant hoteliers opened his latest luxury hotel in sunny South Africa.
Sol Kerzner admits opening an uber-luxury hotel in the current economic climate is not ideal, but he still firmly believes his latest venture -- One&Only -- in Cape Town's waterfront will be a success.
Across his global hotel empire, from Atlantis in the Bahamas to the Royal Mirgae in Dubai, he admits accommodation rates are down. However, he says, there is still a market for high-end hotels -- guests are just changing the way they travel.
Instead of booking months in advance, Kerzner says, many of his rooms are only booked at the last minute as travelers become more cautious about spending. This, he says, makes it far more difficult for him and his team to plan ahead but still, the party goes on.
In classic Kerzner style, the opening launch of the One&Only Cape Town was about glamour, celebrities and conspicuous consumption.
Kerzner's hotels are more than just expensive posh rooms, he peddles the promise of being part of the lifestyle of rich and famous.
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Source - CNN
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