St. Regis Hotels & Resorts — the world’s leader among luxury residential complexes
The world-famous brand ‘St. Regis‘ or ‘St. Regis Hotels & Resorts‘ has united hotels and the luxury-class holiday apart-hotel complexes which have ultra-luxurious environment for permanent or temporary stay in all around the world.
This chain was named after the New York 5-star hotel ‘The St. Regis Hotel’, built in 1904 in the central part of Manhattan. In the period between 1985 and 1991, a large-scale reconstruction of this hotel complex was done, making it the admitted flagship of the famous ‘St. Regis’ brand and the most luxurious hotel in the world, worth more than $100 million.
Currently, more than 60 hotel complexes, built in the best resorts, cultural and business centres of the world, operate under the ‘St. Regis’ brand. The most famous are the complexes on Miami Beach, Washington, San Francisco, Moscow, Toronto, Hawaii, Maldives, Bali, Bora Bora, Dubai, Beijing and Shanghai.
Until April 2016, the residential complexes of ‘St. Regis’ were managed by an American company Starwood Hotels & Resorts Worldwide. The investment portfolio of the company’s assets was about $1.3bn with an annual turnover of $5.76bn. Eleven largest and most prestigious chains, containing 1300 hotel and residential holiday complexes, located in 100 countries, were under the company’s general management.
A joint agreement to absorb Starwood Hotels & Resorts Worldwide by US companies Marriott International was signed in 2016. As the result, currently the ‘Marriott’ brand unites 30 the most famous hotel brands in 90 countries containing 6,080 residential and hotel complexes with 1.2 million units of comfortable housing.
The increase of rental and buying demand for elite estate around the world stimulates building developments of new resort complexes of this type in the USA.
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