Luxe Life
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5 Green Luxury Hotels for Ecoconscious Travelers
Continue reading… 3 CommentsIt's a simple fact: Most hotels wreak havoc on the environment. Take the daily washing of sheets, towels, and tablecloths; an endless supply of tiny soaps, shampoo, and other bath accessories; and lights, air conditioning, or heat left on continuously. These are just a few of the crimes that hotels commit, gobbling up water and energy and generating massive amounts of paper, food, metal, plastic, aluminum, and glass waste.
But some hotels are taking great strides to becoming greener. A "green" hotel uses resources wisely, and conserves and preserves by saving water, reducing energy use, and cutting down on solid waste. Incorporating these waste reduction techniques into hotel operations is a win-win for the environment and the hotel. Not only will greener hotels save resources and reduce pollution, they will also cut down on operating costs while increasing profit margins. U.S. News takes a look at five green and sustainable luxury hotels:
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<i>Domino</i> Magazine Is Dead
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Domino magazine and its website will cease publication, Charles Townsend, president and CEO of Condé Nast, announced today. The announcement comes on the heels of naming Bill Wackermann as "publishing director" of the shelter magazine.
That was a bust. Domino, which offers advice on decorating, do-it-yourself projects, gardening, and party planning, will publish its final issue in March.
Take a magazine built around peddling products, couple that with a deepening recession in which people are less likely to purchase things, and you've got a recipe for failure. "This decision to cease publication of the magazine and its website is driven entirely by the economy," Townsend said. "Although readership and advertising response was encouraging in the early years, we have concluded that this economic market will not support our business expectations."
Domino was launched in April 2005. The magazine's current rate-base is 850,000.
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Nokia Launches Luxury Mobile Services in Japan
Continue reading… 0 CommentsLuxury mobile handset maker Vertu is set to launch an exclusive suite of mobile services in Japan this year. Vertu, owned by Finnish cellphone giant Nokia, said it will offer its customers high-end amenities, including a special, members-only concierge service called "Club Vertu." Details of what's included in this service are still unknown. Vertu, which targets the highest echelon of consumers, is known for crafting gold-plated and diamond-encrusted handhelds.
You'd think catering to the luxury market would be a low priority for Nokia, whose fourth-quarter sales dropped 19 precent from a year earlier to $16.5 billion. But sales of the most opulent goods appear to be recession-proof. According to a 2008 worldwide luxury goods study by Bain & Co., "accessible" brands, or brands that are characterized by affordability, status, and membership, such as Coach and Ralph Lauren, were flat in 2008. On the other hand, "Absolute" luxury brands, or brands that attract the most affluent global consumers with their elitism and brand heritage, remain "truly resilient." These brands, such as Hermes and Loro Piana, were up 8 percent in 2008.
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Super Bowl Luxury Suite Goes for $237,508
Continue reading… 0 CommentsSuper Bowl XLIII is less than a week away, and there's still plenty of tickets to go around to see the Pittsburgh Steelers grind it out with the Arizona Cardinals at Raymond James Stadium in Tampa, FL. One of the online brokers still selling tickets is StubHub.com, which is listing roughly 3,500 tickets ranging from $1,600 for individual tickets to $237,508 for luxury suites.
If you've got cash to burn, the luxury suites may be a fine way to go to achieve the most memorable Super Bowl experience. The 36-person private suite offers full-service catering with food, beer, wine, and soda. PrimeSport, a sports travel and events management company, is offering special Super Bowl packages, including four-night accommodations at one of a handful of hotels in the Tampa area, a reserved upper level or endzone ticket, breakfast daily at the hotel, roundtrip transfers on game day, and access to an exclusive VIP event in a private airplane hanger three blocks from the stadium. An executive suite at Innisbrook Golf Resort, for example, can cost anywhere between $3,695 and $5,265 per guest.
Despite such lavish offerings, the cheapest tickets are still less expensive than those of past Super Bowls. According to the Pittsburgh Post-Gazette, the average price for all Super Bowl tickets selling is about $2,600. In 2008 (Giants-Patriots), tickets were $3,536, and in 2007 (Colts-Bears), tickets were even higher at $4,004. Even the Super Bowl can't elude the recession.
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Twitter Valuation Reaches $250 Million
Continue reading… 2 CommentsSmall talk is now a very big deal. Twitter, the popular micro-blogging and social-networking site, has entered into an agreement with one or more venture capital firms, valuing the company at a staggering $250 million, according to TechCrunch. ComScore data shows that Twitter logged about 5.57 million users in September 2008, representing an impressive five-fold increase over the year-ago period.
Although the company has achieved mass adoption since it launched in March 2007, Twitter has yet to offer a viable business model; it still hasn't shown how it will generate revenues and sustain profit growth. The company recently turned down a half-billion dollar acquisition offer from Facebook, although most of it would be paid with stock.
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Barneys Sale Considered By Dubai-Based Owner
Continue reading… 0 CommentsThe drowning luxury market may claim yet another victim: Barneys New York. Dubai Istithmar World PJSC, an investment arm of the Dubai government, is considering a sale of the luxury retailer, less than two years after buying it, two people familiar with the matter say.
From Bloomberg: "The Dubai investment fund has struggled to expand Barneys outside the U.S. after Howard Socol resigned as chief executive in May and the luxury market withered. Istithmar was one of seven Gulf funds that lost a cumulative 15 percent in 2008, according to Saudi bank Samba Financial Group."
Istithmar purchased Barneys in 2007 for $942 million, but it's highly unlikely they'll be able to expect the same price now if they sell.
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'The Dark Knight' Snubbed By Oscars
Continue reading… 15 CommentsNominees for the 81st annual Academy Awards were announced this morning in Los Angeles, and to the dismay of many, the Academy failed to include The Dark Knight for Best Picture and the ridiculously talented Christopher Nolan for Best Director. Seriously? If you're like me, you watched every single special feature on the Dark Knight Blu-ray disc and just knew it would be nominated for Best Picture.
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Rafael Nadal Blogs at Australian Open
Continue reading… 8 CommentsYou'd think blogging would be the last thing on your mind, especially if you're the No. 1 tennis player in the world, grinding your way to win a Grand Slam title on a hard court, all while maintaining the storied rivalry with the great Roger Federer. But Rafael Nadal has made himself easily accessible to all of his fans, with daily blog posts straight from the Australian Open in Melbourne.
In his January 21 post, Nadal writes: "Today was a very easy-going day. I had a training session at 12 and then had something to eat at the tournament. Then I went back to the hotel around 3 to rest a bit and then had dinner with all my Spanish team-mates and the new Davis Cup Capitan, Albert Costa, hahahaha...Ok so tomorrow I'm playing the second round in Melbourne. I am very confident and I'm training and playing very well so I hope tomorrow I can continue this way."
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8 Super Bowl XLIII Events for Fans of All Ages
Continue reading… 6 CommentsAfter 17 grueling weeks of the regular season and three rounds of heart-attack playoff games, the Pittsburgh Steelers and Arizona Cardinals will battle it out at Super Bowl XLIII in Tampa on February 1. Tickets are few and far between, and most hotel accommodations were sold out well in advance. But, if you're one of the fortunate gearing up to visit Tampa, the weekend is dotted with several events and attractions for fans of all ages.
1. Catch a glimpse of the players. The AFC champions, my beloved Steelers, will be staying at the luxury hotel Intercontinental Tampa. The NFC champions, the Cardinals, will be housed at the Grand Hyatt Tampa Bay. Hunker down in the lobby with your morning coffee and a paper, and you might get a glimpse of Steelers safety Troy Palamalou or Cardinals quarterback Kurt Warner. You may also be able to catch them after practice and media events.
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Goldman Eases Rules on When Restricted Shares May Be Sold
Continue reading… 2 CommentsIt was only two years ago when Wall Street's top financial firms recorded soaring profits that showered over executives, traders, and bankers via multimillion dollar bonuses. I worked on Water Street during that time, and remember having lunch with friends who worked at Goldman Sachs. It was the holidays, and the then famed investment bank announced it would dish out $16 billion in bonuses—an average of more than $600,000 per employee. I was jealous and appalled and completely in awe. What would you do with a $50 million bonus?
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10 Things You Didn't Know About Blair House
Continue reading… 3 CommentsIt's no secret that President-elect Obama and his family requested to move into Blair House, the official state guesthouse of the president, but were bumped by the former prime minister of Australia, John Howard. Double-booking! Incoming presidents and their families traditionally move into Blair House on January 15, five days before inauguration. The Obama family asked to move in several days earlier than the due date—before their daughters started school—but they were denied access by the Bush administration. They ended up moving into the historic Hay-Adams, instead. Howard, by the way, was booked for only one night: January 12.
Tomorrow, the Obama family will finally have access to Blair House, which stands right across from the Old Executive Office Building of the White House. Here are 10 things you may not know about the presidential guest manse:
1. The original Blair House was built in 1824.
2. Francis Preston Blair, a newspaper publisher and adviser to Presidents Andrew Jackson, Martin Van Buren, and Abraham Lincoln, acquired the home in 1836.
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Lexus Debuts First Hybrid for Entry-Level Luxury Market
Continue reading… 1 CommentWith the Obama administration's new alternative and renewable energy plan—which includes efforts to put 1 million plug-in hybrid cars on the road by 2015—Lexus found an opportune time to unveil the HS 250h at the Detroit Auto Show. This is the luxury automaker's first hybrid designed for the entry-level luxury market. "Did you know that more than 60 percent of entry-luxury car buyers would have considered buying a hybrid if one had been available?" said Mark Templin, group vice president and general manager of Lexus after unveiling the new model.
The automaker says the HS, which shares a number of components with the latest-generation Toyota Prius, is the most fuel-efficient model currently in the Lexus lineup. Thirty percent of the interior and cargo area utilizes "carbon-neutral, plant-based" plastics, and 85 percent of the sedan, including the battery, is recyclable.
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Golden Globes Swag Ignores Recession
Continue reading… 1 CommentRecession? What recession? The only mention of the economic downturn at last night's Golden Globes ceremony came from actor Sacha Baron Cohen, whose jokes about the recession elicited few laughs: "This recession is affecting everyone, even celebrities," said Cohen. "Even Madonna had to get rid of one of her personal assistants." Maybe it was the word recession that made the crowd nervous, or maybe the celebrities were just scared of Madonna's wrath.
Either way, you couldn't really tell if the Golden Globes show was affected by the economic slump, especially when you take into account the extravagant gift swag provided at suites around Beverly Hills.
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Why Luxury Brands Have a Difficult Time Online
Continue reading… 11 CommentsWith 94 percent of the ultra affluent in the United States regularly buying products online, according to a 2008 Unity Marketing study, why do so few premium brands sell their goods online? It would appear to be a fruitful space for the luxury goods and services market to penetrate. So, why the reluctance?
Last month, I wrote about how it would behoove the luxury market to become more adept with online strategies and make websites the focal point of business. But I also failed to discuss why the luxury industry has been slow to embrace the Web and how consumers' intentions, expectations, and behavior are completely different at a brick-and-mortar store than when they are perusing a site online.
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9 Luxury Hotels in Manhattan Offer Third Night Free
Continue reading… 7 CommentsIt's rare to see discounts or special promotions offered by luxury hotels in New York City. "Hotels in the Americas in particular have been feeling the effects of the wider global downturn for the past six to nine months, and we have seen extensive price cutting already," said David Roche, president of Hotels.com. "U.S. hoteliers may have to cut prices further to maintain occupancy in the months to come."
This is fortuitous news for you, because nine luxury hotels in New York City are offering a third night's stay free if you book and pay for two consecutive nights between January 9 and February 27. It's part of a promotion with the city's marketing, tourism, and partnership organization. The luxury hotels participating in this program are Jumeirah Essex House, Loews Regency, the London NYC, the Sherry-Netherland Hotel, Trump International Hotel & Tower, Waldorf Towers, the Plaza Hotel, the New York Palace, and the Carlyle, a Rosewood Hotel.
The average price for hotel rooms worldwide fell over the summer, according to the Hotels.com hotel price index. This is the first year-over-year decline in prices measured in any quarter since the HPI began in 2004. The decline in prices globally was driven by falls in room prices across North America, including New York hotels and Las Vegas hotels (where prices fell by 5 percent), Latin America (where prices were down 1 percent), and the Caribbean (prices down 4 percent), states the Hotels.com report. Prices in Asia remained flat.
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Manhattan Apartment Sales Drop for Fourth Straight Quarter
Continue reading… 1 CommentLehman. Merrill. Bear Stearns. AIG. Fannie. Freddie. Wachovia. Epic stories of failure revolved around these names and with them came thousands of layoffs. The turmoil on Wall Street has undoubtedly shaken the confidence of the local real estate market; those who've lost their jobs or that cushy bonus are uncertain about taking the plunge in terms of buying or selling.
According to Bloomberg: "Fourth-quarter transactions dropped 9.4 percent to 2,282 units from a year earlier, New York property appraiser Miller Samuel Inc. and broker Prudential Douglas Elliman Real Estate said in a report today. While the overall median sales price rose 5.9 percent, luxury prices dropped 3.9 percent and the median for all resale apartments slid 3.6 percent."
"You could say it started the second week of September when Lehman (Brothers) filed for bankruptcy," said Dottie Herman, chief executive of Prudential Douglas Elliman.
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The 8 Breakout Places to Travel in 2008
Continue reading… 0 CommentsWhat were the breakout places to visit last year? Here's the list, courtesy of my favorite online travel site, TripAdvisor, which offers traveler reviews and opinions of hotels and vacations.
1. Dubai, UAE—Regularly swarmed in 2008 by celebrities—even Michael Jackson, who surfaced here in 2008. Beat the desert heat at Ski Dubai, an "engineering marvel" with 25-story-high indoor slopes.
2. Las Vegas, Nevada—See Vegas; think bargains. 2008 made Sin City more affordable than ever, with deals everywhere on hotels, airfare, even show tickets. (Gambling—still pricey.)
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Obama Family Moves Into Hay-Adams
Continue reading… 2 CommentsFresh from a 12-day holiday vacation in Hawaii, the Obama family returned to Illinois yesterday for a brief visit. The future first family will check into the Hay-Adams luxury hotel in Washington on Sunday, just in time for Malia, 10, and Sasha, 7, to commence classes at Sidwell Friends School on Monday. Whew!
Although the Obama family will be staying at the historic Hay-Adams for only two weeks—they'll be moving into Blair House, the official guest house of the president, on January 15—it's a splendid place to crash. Not to mention it's a stone's throw away from the White House.
