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Katsuya Century City is opening in 2024 , joining seven other locations across the globe .
to get back into the hotel space . “ I ’ ve been out of the game for a few years ,” he said . But in that time , sbe was incubating ideas and seeking to identify what type of product could make for the biggest disruption . Knowing that they wanted to go after what he referred to as the “ new consumer ,” who has been eschewing traditional hotels for the likes of Airbnb , the idea is to create a quasi-mashup of luxury and lifestyle , a segment that sbe is well versed in , but in a more affordable , approachable way . “ We ’ re looking to go after a demographic that is very difficult to be authentic with ,” Nazarian said .
The new smart lifestyle product is meant predominantly as a conversion play of existing commercial real estate , with a focus on food and beverage and wellness components , which would include sbe wellness programming , such as med spa offerings . As an investment , Nazarian , presciently , recognizes that many existing buildings necessitate repurposing in order to adapt and conform to a different type of post-pandemic living and working . “ Hotel owners , who have a sensitivity to return on investment , and who are up against contracts that are coming up with legacy hotels , are trying to figure out what to do to
build a really unique product that resonates for a consumer that we think has not been targeted correctly ,” he said . sbe teaming up with Wyndham on the new brand is a potential jolt for Wyndham ’ s expansive loyalty membership , ultimately giving them an attractive option to cash in points for stays . Wyndham ’ s Ballotti made that clear from the jump . “ It ’ s having aspirational redemption opportunities ,” he said , alluding to the thousands that stay at Days Inns and Super 8s throughout the year , perhaps for work reasons , but when it ’ s time to take a family vacation or to pamper themselves , want options that are
HOTEL OWNERS , WHO ARE UP AGAINST CONTRACTS THAT ARE COMING UP WITH LEGACY HOTELS , ARE TRYING TO FIGURE OUT WHAT TO DO TO BUILD A REALLY UNIQUE PRODUCT THAT RESONATES FOR A CONSUMER THAT WE THINK HAS NOT BEEN TARGETED CORRECTLY
– SAM NAZARIAN , FOUNDER AND CEO , SBE
62 hotelsmag . com Mar / Apr 2024