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After almost two years of travel restrictions and intermittent quarantines, the world’s desire for luxury travel has exploded. However, consumers are approaching holiday breaks and vacations with a mindset and priorities that have been markedly transformed. The modern-day luxury traveler now expects something unique and is willing to spare no expense in order to have the holiday of a lifetime. A boom in luxury travel has ensued with the hospitality sector adopting new approaches to satisfy this growing consumer demand.
A new hotel concept by RH – formerly Restoration Hardware, a furniture store turned luxury curator of products, places, spaces and services – is embracing just this, with the hotel opening in New York City’s Meatpacking District on September 8, 2022.
“The RH Guesthouse has been designed through a lens of privacy and luxury.…We believe privacy is going to become a large and important market, and the RH Guesthouse has an opportunity to define that new market with an unseen-before level of design, quality, and hospitality,” RH Chairman and CEO Gary Friedman explained.
RH Guesthouse opened at 55 Gansevoort Street in a historic triangular loft building comprising a total of only 10 units: six adults-only guest rooms, three suites and a penthouse (Friedman’s personal space that will occasionally be offered for rent). The Fantini fixtures, freshly stocked gourmet pantry and fresh fruit in each room – in lieu of a minibar – evoke the luxury RH is known for. There are also two restaurants on the premises, serving a curated menu including everything from wood-grilled avocado with caviar to Australian Wagyu rib-eye and even an entire branzino cooked over Japanese charcoal. RH’s investment in luxury is partially informed by the success of other luxury brands during COVID and is a gauge of what will sell in the post-COVID hospitality space.
- Demand for luxury has grown discernibly with the lifting of COVID restrictions.
- Real estate developers and investors are rethinking offerings in response to growing demand.
- Bespoke hospitality concepts present unique opportunities and challenges.