Dorchester Collection’s Global Luxury Experience

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Nov. 22 (Bloomberg) -- Melvin Gold, hotel industry consultant at Melvin Gold Consulting, talks with Francine Lacqua about the luxury hotel industry as a wide-range of customers look for a high-end experience and global expansion plans for the Dorchester Collection. He speaks on Bloomberg Television’s “The Pulse.”

You have to have great service and everything that goes with it.

It is absolutely about everything.

The guest is prepared to pay top dollar but they want it to be tiptop.

The facility is immaculate.

Service spot on.

Recognition is really important in the luxury hotel business.

How much have we changed the way that we travel.

If you go to the dorchester around tea time, it seems like it is much more -- it is not as affluent as it used to be.

You kind of save up and it is a luxury experience.

Yeah, but i think it is about the aura.

If it is something the people really look forward to as a treat.

There are people who stay in luxury hotels very, very regularly.

Won't be seen anywhere else.

But there is also a tier of the market where people want to experience that restaurant, that tea, even a breakfast or a brunch and or just one night in the hotel and those experiences are very fundamental in today's economy.

Do we need to make sure that actually as a company they cater to both?

A lot of people travel easyjet and ryanair but then will stay somewhere nice as an experience.

Hotels say a lot about you.

And whether it is a special occasion, a special person, or whatever, i think that that is really important.

The flight might be less important.

There are many people, as you say that, use some fairly low grade airline and will be very happy to stay in a luxury establishment and take real advantage of not just the hotel but quality restaurants and facilities when they get to their destination.

I think the economy has moved in that direction.

Certainly in the u.k. and i think the states as well.

How difficult is expansion?

Here in europe, we have some great hotels.

Not knowledge london but paris, you have -- not knowledge london but in paris, italy.

How difficult is it?

It is when you don't have that history to actually open a brand somewhere else?

I think there are locations around the world that are iconic for luxury hotels.

True luxury hotels where people are paying many, many hundreds of dollars per night.

To stay in the hotel.

And not every location can support that level of hotel.

So yeah, they are a dot on the map which really works.

London and paris have been pretty central to what we have in europe.

But dorchester group has expanded into milan and rome.

Lovely hotel there and into geneva.

But in the states, they are in los angeles.

New york would logically be a target.

Asia pacific, hong kong, they are not there yet in terms of this group, but others are.

Places like hong kong, shanghai, beijing.

How difficult is it to crack?

If i go there, say i want a little bit of a luxury experience.

I'm going to be in washington where lincoln was meeting with the lobbyists.

I want that history.

A good example is not in the dorchester group but peninsula group which is o iconic in hong kong.

They have been wanting to come to london for years and years.

They recently found a site on hyde park corner.

It had to be park lane.

It had to be hyde park corner.

Somewhere in that region.

It is difficult to find the right sites.

Second best just doesn't do it.

We have shangla -- shangrila opening soon.

What an iconic building.

I can't wait actually.

You can't just go put a luxury hotel anywhere.

With all the facilities.

All the service, teaverpbing people want and -- everything that people want and expect that people are going to go and pay top dollar.

Location remains a fund memory part of our sfrifment there has to be something special about it.

Thank you so much for that.

Guy, what is coming up?

The $10 billion question is that a fair price for chrysler?

This text has been automatically generated. It may not be 100% accurate.

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