The New Color of Luxury

Starwood Capital Group announced today that it will open New York City's first five-star green hotel as part of a 31-floor mixed-use building in Manhattan. The building will feature approximately 100,000 square-feet of hotel and 86,000 square feet of residential condominiums.

Last October, Starwood announced that it would be launching the first luxury, eco-friendly global hotel brand: "1" Hotel and Residences. The purpose is to demonstrate that green principles can coexist with and enhance a luxury experience. In fact, the Natural Resources Defense Council has agreed to be Starwood's advisor on the project.

Barry Sternlicht, CEO of Starwood Capital Group, says:

Today marks an important step in the development of what I believe will truly become a revolutionary force for change in the hospitality industry.

The building will be LEED certified by the U.S. Green Building Council, and will feature extensive use of high-recycled and locally procured materials and half of all energy used will come from renewable sources such as wind and hydroelectricity. The "1" in New York will donate one percent of profits to local environmental organizations.

Other hotels under the "1" brand are being planned for Seattle, Scottsdale, Arizona, Ft. Lauderdale, Mammoth Lakes, CA, Washington D.C., and Paris.

Hopefully green operations will not only become a luxury and hospitality industry standard, but a standard for all industry.

Sources: EarthTimes, 40th Street Development, Starwood Real Estate, Natural Resources Defense Council