Marketing Review Excerpt — Ian Schrager: The Revolutionary Man - (Page 7) The Revolutionary Man The sitting room at the Gramercy Park Hotel (left). The pool at Mondrian (below). of discretionary travelers who pretty much thrive in any economy, he also sees this new product appealing to those who “grew up with him” through the nightclub and hotel scene, now older, richer, and seeking something of more substance, character, and uniqueness. “They want a new kind of luxury, defined not by a price point or logo item but by an experience.” Partnering with Marriott Schrager admits that his impact on the market doesn’t equate to the number of his ideas and innovations that have influenced the industry. Looking for a worldwide platform and the chance to make his mark on a mass array of properties, Schrager hooked up with Bill Marriott last summer to build what could be hundreds of chic hotels called Edition around the globe. He is looking for his partnership with Marriott to make him a major player in the lifestyle market segment and allow him to acquire a much larger customer base. “I had an idea in a segment I believe I invented, and with a great company like Marriott, I can implement it on a grander scale. I want to do this instead of spending another 25 years and maybe doing a dozen or so hotels and then having the idea picked up by everyone.” As for the partnership, it gives Schrager mass appeal and will make Marriott hip. An unlikely duo? Schrager says “our DNA is alike,” noting their similar qualities of being “competitive, curious, passionate, and in pursuit of excellence.” It is a relationship that capitalizes on each individual’s differences and talents. Upon announcing the partnership, chief executive J.W. "Bill" Marriott Jr. said: “The scale of this brand requires the reach, resources, and expertise of a global player like Marriott, while the innovation necessary calls for the experience and originality of the category’s most accomplished entrepreneur.” The hotels will be owned by third party investors, Schrager is heading up concept, design, and marketing for Edition and Marriott is handling development, management, and operations, except for food and beverage which falls under Schrager’s domain where he’s had huge success with in the past. While other companies considered it a loss leader, Schrager wanted to have the best restaurant or bar in the city that draws not only guests but ‘locals in the know.’ photography: courtesy of ian schrager FALL 2008 • HSMAI MARKETING REVIEW 25
Table of Contents Feed for the Digital Edition of Marketing Review Excerpt — Ian Schrager: The Revolutionary Man Marketing Review Excerpt — Ian Schrager: The Revolutionary Man Marketing Review Excerpt — Ian Schrager: The Revolutionary Man - (Page 1) Marketing Review Excerpt — Ian Schrager: The Revolutionary Man - (Page 2) Marketing Review Excerpt — Ian Schrager: The Revolutionary Man - (Page 3) Marketing Review Excerpt — Ian Schrager: The Revolutionary Man - (Page 4) Marketing Review Excerpt — Ian Schrager: The Revolutionary Man - (Page 5) Marketing Review Excerpt — Ian Schrager: The Revolutionary Man - (Page 6) Marketing Review Excerpt — Ian Schrager: The Revolutionary Man - (Page 7) Marketing Review Excerpt — Ian Schrager: The Revolutionary Man - (Page 8) Marketing Review Excerpt — Ian Schrager: The Revolutionary Man - (Page 9)
For optimal viewing of this digital publication, please enable JavaScript and then refresh the page. If you would like to try to load the digital publication without using Flash Player detection, please click here.