With renewed drive, the hospitality industry has been focusing on full-service improvements, and The Ritz-Carlton Hotel Co. is following suit. Facing stiff competition in the luxury market, the company announced it has plans to reinvest $1 billion in upgrades to its 66 properties around the world. The company’s three-year capital improvement plan will affect hotels across the luxury hotel market, including a $110 million renovation in Maui, Hawaii.
Ritz-Carlton will also speed up its development pipeline for 2007, which includes the June openings of a Ritz-Carlton hotel in Moscow and the Abama Resort in Spain’s Canary Islands. More than 30 Ritz-Carlton hotels, resorts and residential developments are underway in cities like Beijing and Dublin, the company said.
The hotel upgrades will include amenity enhancements, such as flat screen televisions, wireless Internet, increased thread-count sheets and more. Ritz-Carlton president & COO Simon Cooper said in a release that the amenity upgrades will help the hotels “evolve from one known for elegant formality to one of more … relaxed luxury,” akin to world-class spas and celebrity-helmed restaurants.
Other luxury brands are keeping busy, like Starwood Hotels & Resorts Worldwide Inc., which has plans to open three St. Regis Hotels & Resorts-branded luxury hotels in Asia by 2011. Starwood Capital Group also announced the creation of a new luxury hotel brand, Baccarat Hotels and Resorts, in early July. Ritz-Carlton has also opened hotels in India, Qatar and Tokyo this year. The company could not be reached for comment before deadline today.