The name Ian Schrager should be familiar to you if you have any interest in the real estate business. The American entrepreneur is a renowned real estate developer and hotelier credited with co-creating the idea of the boutique hotel. You might also know him as the cofounder of Studio 54, one of the most famous clubs in New York History. The real estate mogul now has his eyes set on the sunny skies and warm beaches of South Florida, with good reason.
The Potential of South Florida
He believes that South Florida is the perfect place for more new hotels, and he’s right. Right now, he’s looking into creating several different hotels in the area, as he feels that the market is strong and that the hotels would be able to thrive in the area. In fact, he says that this is just the “beginning of a renaissance”, as more and more people are falling in love with what Miami and the surrounding areas, such as Fort Lauderdale, have to offer.
He’s certainly no stranger to hotels in the area, having opened the Miami Beach Edition less than a year ago. What he wants to do now is bring a hotel to North Beach, as well as a new location for an Edition that’s a bit further north. Schrager recently spoke as the keynote speaker at the National Association of Real Estate Editors’ 49th Annual Real Estate Journalism Conference and announced that he still had plenty of plans for South Florida.
While Miami is certainly a popular spot for hotels, he realizes that there is far more to South Florida than just Miami. He’s also interested in Broward County and Fort Lauderdale, and believes that an Edition would do very well there eventually. However, he also said that he had been looking for a location in the area but ended up having to pass. That’s not to say that he will not be looking for other locations in the area in the future.
One of the other areas he’s mentioned considering includes St. Petersburg, and he says that he’s not limited to just one or two locations. In fact, he’s working on hotels in places such as China and India as well. Still, Florida is a major focus.
More Than a Bed
Something that helps to set Schrager apart from so many other hoteliers is the fact that he feels that a hotel’s job is to do more than just provide a place for the guest to sleep. It’s about providing the visitor with an experience that they will enjoy. This includes things such as great dining and entertainment right at the hotel. He wants to make sure that his buildings also incorporate new technology to help improve the visitor’s experience even further.