In San Francisco, for instance, the 100-year-old historicbuilding on Nob Hill has been redesigned and expanded to add 17 newsuites for $14 million. Hotel Arts, Barcelona completed a$30-million renovation of all guestrooms and suites, and alsoopened a Six Senses Spa with ocean views.

At the Ritz-Carlton, Laguna Niguel, on the Southern Californiacoastline, $40 million was spent to completely renovate the roomsand public spaces, as well as add a spa, ocean front fitness centerand new fine dining restaurant. At the Portman Ritz-Carlton,Shanghai, both the Summer Pavilion and Tea Garden restaurants havebeen renovated, the fitness center modernized, and guestroomsredesigned, for a total of $25 million.

Other renovations include a $40-million facelift at theRitz-Carlton, St. Thomas, which among other developments addedseveral presidential suites overlooking the Caribbean and theRitz-Carlton, Palm Beach's $60-million renovation, which included a28,000-sf spa. The next resort to begin its renovation process isthe Ritz-Carlton, Kapalua, in Hawaii, which will investment inexcess of $75 million, commencing in 2007. In other hotelsamenities like flat screen televisions and wireless technology havebeen upgraded.

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Erika Morphy

Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.