1. Is Marriott's Edition Brand Outlook Bright?
With the recent $815 million sale of three Edition hotels by Marriott to the Abu Dhabi Investment Authority, hotel analysts were bulllish over the development prospects of the Edition brand.
However, I am more doubtful about the future success of this new brand for two major reasons: 1) the partnership of Marriott and Schrager is so outlandish that it has failure written all over it 2) with only two Edition-branded hotels in operation (London and Istanbul), guest reaction is unknown and unreliable.
Let's wait and see what the future holds for this new long-stalled brand which has had such a troubled birth.
2. What Makes a City Great?
In New York City, it was twelve years of billionaire Mayor Michael Bloomberg. When he was sworn into office on January 2, 2002, the budget was $4 billion in the red, the World Trade Center was only partially cleared after September 11th, tourists stayed away, people smoked everywhere indoors and out, the High Line was a rusted hulk.
As he leaves office, Mayor Bloomberg and his administration have accomplished the following:
Greenspace & the Environment
- more than 850 acres of parkland added
- 800,000 trees planted
- 16% reduction in greenhouse gas emissions since 2005
- New York harbor is the cleanest it's been in 100 years
- October opening of City Water Tunnel No. 3, one of the largest infrastructure projects in the City's history
- New York is the safest large city in the United States
- New York has the fewest murders and shootings in 45 years
- incarceration rates are down 35%
- violent crimes in schools have decreased 59%
Arts, Culture & Tourism
- record 54.3 million visitors in 2013 with a $59 billion annual economic impact
- the arts have a $21 billion annual economic impact supporting more than 320,000 jobs
Jobs & Economy
- surpassed the 1969 record for number of private sector jobs. NYC has gained back 327% of the jobs lost during the last national recession, while the country as a whole has gained back only 87%
- NYC's population reached an all-time record high; for the first time since before 1950 more people are moving into NYC than are leaving
- Record growth in the tech sector; venture capital for tech startups founded in NYC is second only to Silicon Valley
- leaves a 2.4 billion budget surplus
- 470 miles of bike lanes created.
- in the system's first 200 days, Citi Bike users took 5.8 million trips for more than 11 million miles.
- traffic fatalities are down nearly 30% since 2001
- record expansion of transit options through water ferry, bus rapid transit, five borough taxis and bike sharing
- Smoke-Free Air Act
- ban on TransFats
- 50% drop in youth smoking and 28% drop in adult smoking
- life expectancy for New Yorkers increased three years in last decade.
- NYC's air quality has reached the cleanest levels in more than 50 years
Housing & Development
- 37% of the city rezoned
- 160,000 units of affordable housing were built or preserved
- creation of the largest affordable housing plan in the nation
New York is in far better shape than when Bloomberg became mayor. We wish him luck as he becomes a private citizen and takes on various causes like gun control, immigration reform, climate change and healthier citizens.
3. Quote of the Month
"Anyone who wants to know the hotel business thoroughly must start at the lower back door where the packages and the food come in and the trash and garbage go out. He must work his way up carefully from that back door through the kitchen to the dining room, from the cheapest bedroom to the finest suites. I entered my profession through the back door of the Hoffman House, literally."
Oscar of the Waldorf
My New Book
My new book, "Built To Last: 100+ Year-Old Hotels East of the Mississippi" is available now. It is a paperback which tells the stories of 86 historic hotels (50 rooms or more) and each is illustrated with an antique postcard. It has a foreword, preface, introduction, bibliography and index. It has been accepted by the American Hotel and Lodging Educational Institute for promotion, distribution and sale.
"Stanley Turkel is one of the best writers I know at capturing our history the "old" and infusing it with new life and relevance. In his two previous books on classic American hotels and the legends of the hotel business, Stanley brought to vivid life many characters and places that contributed to the greatness of the lodging industry. Now, in this latest book, he adds a wonderful chapter to the rich history we share."
Joseph A. McInerney, CHA
American Hotel & Lodging Association
You can order a copy on my website (www.stanleyturkel.com) Click on Books.
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