Please come back again soon.

Decorated in textures and tones of warm cream and rich espresso, the soft, inviting atmosphere pops with old Hollywood glamour shots. A favorite of locals and traveling artists alike, the cobblestone courtyard and Studio Bar + Lounge are great spots to sip and be seen.

Alyson Kate | The Artmore Hotel – a Midtown Must-Stay

WITH TAILORED HOSPITALITY INTERNATIONAL

Joint Venture Focuses On Development Of Boutique, Luxury Hotel Properties

LOS ANGELES, CA – July 7, 2011 – Bedian International (BI), a global boutique real estate investment banking and advisory firm celebrating its 20^th anniversary this year, announced today that it has entered into a strategic partnership with Tailored Hospitality International (THI), an innovative boutique hotel design and management company.

By melding their talents and resources, the two companies can maximize their business opportunities and provide their clients in the boutique and lifestyle hotel market with a one-stop firm that can handle everything from property targeting, acquisition, and financing to design and post-completion operations. The firms are currently involved in two joint projects, one in Los Angeles, Calif., and one in Orlando, Fla.

“We’re very excited to be joining forces with Robert and his team at Tailored Hospitality,” said Gary Bedian, president, CEO, and founder of Bedian International. “The luxury boutique hotel business is an area we’ve wanted to enhance our involvement in for some time and it makes much more sense for us to do that via a strategic partnership than to try to build such a division in-house.”

“And the timing for our partnership couldn’t be better,” Bedian added. “The hospitality and hotel market is rebounding strongly. Occupancy rates and property sale prices are both up year over year. That bodes very well for the future of our partnership and the hotel industry in general.”

The key numbers back up Bedian’s perspective – studies show that the hotel and hospitality business is indeed rebounding, and in a big way. In California, 2010 lodging property sales rose 80.4%, to 166, after an anemic 92 in 2009. Some experts anticipate the 2011 total will reach or surpass 200 transactions. Total sales dollars skyrocketed 240.6% to nearly $1.8 billion, and hotel financing is bouncing back, too, resulting in more construction starts in some markets.

“This partnership makes so much sense in so many ways,” explained Robert Todak, president of Tailored Hospitality. “We each offer tremendous strengths and experience in our areas of expertise, and those elements complement each other wonderfully.”

Under the partnership, BI and THI will seek multiple types of luxury projects, from original property acquisition, design and development to purchasing existing properties for rebranding, repositioning, or turnaround. While both parties will be involved in each new venture, the strategic initiatives will be shared based upon the specific areas of their respective expertise, adding value and efficiency. The result is the creation of a full-service, high-end boutique hotel experience from initial ideation to day-to-day operations well after the doors open.

BI brings two decades of experience spanning the entire spectrum of investment banking and facilitation for commercial real estate and hospitality investments both domestically and overseas, including in the former Soviet Union (CIS), Eastern Europe and the Middle East, with plans to expand to South America. BI will concentrate primarily on working directly with developers and investors securing equity, financing, and providing counsel and asset management for each project.

Specific capabilities include portfolio planning for acquisition, development and disposition, post-acquisition asset management, investment banking, syndication, financing procurement, project development and re-development management, and other advisory services.

Headquartered in Los Angeles, BI will also be heavily involved in the assessment and consideration of projects in Southern California and the West Coast.

“We each bring tremendous talents and resources to the table,” said Bedian. “THI has an incredible network of resources in the design and lifestyle business – the best of the best, and we both contribute significant marketing resources that combined will prove to be a critical component to our success.”

True to its name, THI will direct its skills and experience primarily toward establishing fully customized presentation, operations and management components for the property. These services include everything from the design and execution of a property’s décor, culture and style, to its amenities and food and beverage vehicles (both restaurants and bars) to the IT infrastructure and reservation systems.

THI has a wealth of experience in icon hotel management. Todak learned the core business at the renowned Waldorf-Astoria. He shifted to management during the infancy of the modern hotel revolution under the mentorship of the movement’s pioneer, Ian Schrager. Todak’ s work has been associated with numerous distinctive properties including the Hard Rock Hotel San Diego, the Tides and Delano luxury hotels in Miami’s South Beach, and the nearby Acqualina Resort, a AAA Five Diamond property. To date, Todak has opened three hotels that have received the coveted Condé Nast Traveller’s “Hot List” award.

Todak’s partner in THI is Keith Space, whose pedigree in boutique hotel management is the equal of Todak’s. He also worked under Schrager’s tutelage before striking out on his own and has consulted and managed hotel and restaurant ventures in several countries with a diverse group of distinguished developers, architects, designers, brokers and hospitality professionals. His experience and expertise have made Space a master in hotel development and operation.

Bedian and Todak were introduced to each other just after the holidays in 2010 by a mutual business colleague associated with the Hard Rock Hotel San Diego. They didn’t meet until several months later on a project both were working on in Orlando, Fla. By that time the two had established a solid rapport and comfort level with each other, both professionally and personally, and decided to cement their plans to work together.

About Bedian International

Bedian International is a boutique real estate investment banking and advisory firm that identifies, negotiates, closes and manages hotel and commercial real estate transactions worldwide. BI provides the full scope of buyer services, including portfolio timing for acquisition and disposition, asset management, investment banking and syndication, and project management. The company is headquartered in Los Angeles, Calif. For more information visit www.bedian.com.

About Tailored Hospitality International

Tailored Hospitality International (THI) was founded by Keith Space and Robert Todak. Both men’s careers were shaped and mentored by Ian Schrager, the pioneer of the modern hotel movement, and they have over forty-years of combined experience as hotel and hospitality entrepreneurs and pioneers of the modern hospitality revolution. The powerful and uncommonly synergistic collaboration of these two men build dreams and turn them into reality. Integrity, creativity and innate ability to drive bottom line profitability characterize the TBI team. For more information visit www.tailoredhospitality.com.

Media Contacts:

Vanessa Showalter

Media Strategist

Anton Communications

949-748-0542

vshowalter@antonpr.com

www.antonpr.com

Genevieve Anton

Principal

Anton Communications

714-544-6503

ganton@antonpr.com

www.antonpr.com

Their data suggests:

2011 US per room values to grow by 28%
2012 US per room values forecasted to grow by 25%

2011 per room average value is $84,000
2015 forecasted average value of a hotel room is $151,000

Although you may have missed the bottom of the market. This data shows that it still clearly an excellent time to buy. If you are building a new hotel property try to open by 2013-2014 to stabilize the property by 2015.  If you are open on which markets to pursue deals in, the below is a guide to the top performing markets by percentages and also on a per room basis.

2011 value change in top 10 markets:

1 San Francisco $51,000

2 Oahu $41,000

3 New Orleans $34,000

4 San Diego $34,000

5 Chicago $26,000

6 Miami $25,000

7 Phoenix $25,000

8 Orlando $23,000

9 Anaheim $22,000

10 Los Angeles $22,00

2011 Value change as a percentage in top 10 markets:

1 Detroit 55%

2 Phoenix 45%

3 Cleveland 43%

4 Tampa 41%

5 Richmond 39%

6 Orlando 35%

7 New Orleans 35%

8 Philadelphia 29%

9 Jacksonville 28%

10 United States 28%

Per room value forecast (2010-2015) top 10 markets:

1 San Francisco $233,000

2 Oahu $185,000

3 New York $180,000

4 San Diego $128,000

5 Phoenix $126,000

6 Las Vegas $118,000

7 Chicago $114,000

8 New Orleans $114,000

9 San Antonio $105,000

10 Dallas $103,00

Top 6 Buy markets:

San Francisco

Oahu

Phoenix

New Orleans

Las Vegas

New York

Source: HVS - Hotel Valuation and Transaction Trends for the U.S. Lodging Industry

The invitation by The Jones Group matches the quality of branding that we pursue at Boutique Hospitality Management. This national recognition for this piece we believe speaks highly to the Artmore and all connected to it.

The Winning Piece - Artmore Hotel Grand Opening Invitation

The Award from Graphic Design USA

Although industry experts estimate boutique hotels today represent at most 3 percent of all hotels in the United States, they expect this number to grow significantly. Bjorn Hanson, dean of the Preston Robert Tisch Center for Hospitality, Tourism and Sports Management at New York University, said almost a third of all hotels opening in Manhattan this year would be boutique hotels, and as much as 10 percent in other major urban markets. He estimated that they could account for 6 percent of all hotels in the United States, and as much as 10 percent in the largest urban markets, in 10 to 15 years.

Basically, boutique hotels will double in number in the next 10 to 15 years.  There are approximately 52,000 hotels* in the USA today. Given no change in current supply that would be an addition of 1,560.

In our current economic environment where foreclosures are hitting the market ““it will be less expensive to convert existing hotels to boutique hotels than building brand new ones.”  Boutique hotels can also charge relatively high room rates, making them attractive to owners, Mr. Hanson said. Travelers, he said, were often willing to pay more to stay in a boutique hotel and “experience something different.””

The Rush to Boutique by Jane Levere | The New York Times

*According to STR Global’s 2011 US Industry Overview

Jazz promo at the Artmore

To celebrate the debut of spring and officially open the courtyard of The Artmore Hotel in midtown Atlanta, Kayla Taylor and friends will be performing live jazz on Friday, April 1st. Also debuting will be are all new spring inspired cocktails from the Studio Bar + Lounge. Spread the word around town as it is slated to be a great event.

For table reservations please email sales@artmorehotel.com.

Plans called for the renovation of a historical building in Tribeca and the installation of a boutique hotel and restaurant.  The property was a five-story, Italianate-style store-and-loft buildings constructed around the 1850s. Plans called for the revitalization of the storefront and a loft styled hotel entrance.  The 90 room hotel property would also have the addition of an eighth floor for outdoor and hotel related amenities.

Boutique Hospitality was hired to be the hotel manager for the project for its ability to offer unparalled service and expert advice.  Brought in during the development phase, BHM completed work on branding the property as an upscale boutique property and assisted the developer with putting together the hotel’s business model including the concept and vision for the property including the brand, the brand indentity and ultimately the marketing plan for which the hotel would be debuted.

“Behind the scenes of this extraordinary property will be the experienced team of Boutique Hospitality Management. BHM knows that at the center of any luxury hotel is exceptional service. The hip yet gracious, multi-lingual staff, will be on hand 24 hours a day to tend to guests’ every whim. Providing meticulous housekeeping services twice daily and around the clock pampering, no request will be left unfulfilled. The veteran concierge staff will supply access to all of the hottest boutiques and clubs and will offer the most up-to-date information on New York City’s cultural calendar. 24-hour security will be on hand to ensure the safety and comfort of all visitors to the Hotel.”

Unfortunately, the hotel’s construction plans were halted due to the economic climate. BHM hopes to partake in future development of the property when economic conditions are right.

Having accomplished the unthinkable with Ian Schrager in New York City and again in Miami, Keith Space decided to start his own venture. The Abbey hotel was not in an optimum location and was described by Space as, “A flea bag hotel”.  Renovations, a new concept and vision coupled with serious marketing efforts were needed to reposition the hotel to make it successful. Despite naysayers that told Space that it was not possible, The Abbey Hotel met instant critical acclaim.  The hotel was under Space’s leadership from 1997 to 2005 and featured a hip vibe courtesy of New York designer Harry Schnaper.  The hotel was a frequent stop for leisure travelers and production crews.

The hotel also featured the Abbey Dining Room which was also managed by Space.  The menu was Eastern Mediterranean and Maghreb inspired. One of his biggest fans was Mel Brooks who often frequented The Abbey and became friends with Space and his wife Lili.

During the subsequent rapid expansion of South Beach, The Setai Hotel and Condominium was born. Knowing that this was an excellent opportunity to sell the property, when approached by The Setai, Keith and his partner successfully sold the property in a hot market.

Today the Abbey Hotel is a living quarters and cafeteria for the staff at the Setai.  The legend lives on even after 6 years of no longer operating, visitors still visit Boutique-Hospitality.com to the tune of about 100 a year in hopes of booking the hotel once again.

The hotel sat across the Bass museum of Art, just a few blocks away from the Lincoln Road Mall and it was just two blocks from the beach.

The Hotel and Dining Room were turned from a nonperforming asset into a stylish and profitable boutique hotel showing the talents and ability of Mr. Keith Space.

Do you miss The Abbey Hotel? Tell us your story, share your pictures!