The Crillon's flagship property is the Hotel de Crillon in Paris, which it acquired in January 2005 as part of the $3.2-billion purchase of Societe du Louvre. The Crillon brand initiative will be undertaken through Starwood Capital's Societe du Louvre affiliate.

Starwood officials say the firm intends to develop Crillon hotels on its own or via partnerships with other developers and owners in a host of domestic and international markets including London, Rome, Barcelona, New York City, Los Angeles, Chicago, Las Vegas, Tokyo, Shanghai, Beijing, Hong Kong, Delhi, Mumbai, Dubai and Qatar. In addition, the company plans to develop Crillon properties in resort locations in the Caribbean and the Far East. The company is also exploring ski markets, such as Mammoth Mountain in Mammoth Lakes, CA, which Starwood Capital recently acquired. Starwood Capital Group officials add that the firm is already working on sites in several cities with potential partners.

"Starwood Capital intends to pursue a brand growth strategy behind one of the European and global icons of the luxury hotel market," Starwood Capital Group chairman and CEO Barry Sternlicht says. "Utilizing the backing of the $2.4 billion raised by Starwood Capital in its two recent funds last year, we will build and partner with global developers to expand this brand into the world's most important travel markets."

The Crillon brand hotels and residences will include spa and fitness facilities, and in some instances, a residential component. Starwood Capital says it will enhance its dining facilities by utilizing affiliated world-class chefs. Also, each Crillon property may include a Baccarat-inspired bar and a "Taittinger Champagne Lounge." Both Baccarat and Taittinger were part of Societe du Louvre acquired by Starwood Capital last year.

"With the travel industry experiencing tremendous growth in many regions of the world, the time is right to launch a new, premium luxury hotel brand like the Crillon," Sternlicht continues. "The luxury travel market is one of the fastest growing segments in the industry."

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Starwood Capital Launches Crillon Luxury Hotel Brand

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