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Starwood Capital Plans Baccarat Hotel

(May 2012) posted on Wed Apr 25, 2012

New York flagship to display/sell crystal

Starwood Capital Group’s Baccarat Hotels & Resorts is developing plans to open a flagship hotel in New York, across from the Museum of Modern Art in Manhattan, The Wall Street Journal reports. The $403 million project would feature 115 hotel rooms and 64 residences. The groundbreaking has not been scheduled.

“We're going to marry Louis XV with the modern era,” Barry Sternlicht, Starwood Capital’s ceo and chairman of Baccarat, told the Journal. “We will be catering to high-end couples and business travelers who may be shopping on Fifth Avenue.”

The New York hotel’s design will feature Baccarat chandeliers, a boutique store selling crystal and crystal museum pieces that will rotate through the lobby.

Sternlicht, who is known for creating what is now Starwood Hotels & Resorts, plans to turn Baccarat into a chain of luxury boutique hotels. Starwood Capital acquired French glassware manufacturer Baccarat Crystal in 2005. The brand currently operates Baccarat Residences in Shanghai, and the Baccarat Hotel & Residences at Dubai Pearl is slated to open in 2013.


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