Eco-Friendly Luxury Hotel comes to Atlanta
Aug 3, 2007
ATLANTA, Aug. 3 ENN -- Guests at the new 1 Hotel, an eco-friendly luxury hotel in Atlanta, will experience an unmatched combination of environmentally sustainable architecture, luxurious comfort and impeccable service. The new hotel -- LEED certified -- will open its doors to the public in 2010. The project is the brainchild of Barry Hotel Partners, a division of Barry Real Estate Companies, and Starwood Capital Group. The project called -- 1 Hotel & Residences -- is part of The Streets of Buckhead, a large mixed-use development in Atlanta.
Consistent with its mission statement, the design-driven 1 Hotel & Residences will demonstrate that green principles can coexist and enhance a luxury hospitality experience and healthy residential lifestyle. The Natural Resources Defense Council (NRDC) has agreed to be an environmental advisor to 1 Hotel & Residences with the initial goal of setting a new standard for environmental excellence and, over time, to transform the entire hotel industry. The hotel will also donate one percent of its revenues to local environmental organizations.
Residents and guests of 1 Hotel & Residences Atlanta, Buckhead, will be treated to world-class restaurants, banquet services, spas and sustainable architecture. In addition, they will have access to a new concierge concept with unparalleled personalization to ensure all that is needed and most of what can be imagined will be provided effortlessly.
"Atlanta has grown up a lot in the last several years and it's ready for the level of luxury shopping, dining, lodging and living that The Streets of Buckhead will offer," said Butch Ross, executive director and founding principal of Atlanta-based Barry Hotel Partners. "1 Hotel & Residences Atlanta -- Buckhead will bring a level of sophistication that has not been seen in Atlanta's hotel industry but has long been desired."
The project will feature 100 condominium residences, a 175-key hotel, a world class spa and a restaurant. Residents of the new condominium homes will have full access to the hotel services. The hotel will break ground in mid-2008 and open in 2010. As with all 1 branded projects, 1 Hotel & Residences Atlanta -- Buckhead will be LEED-certified. The LEED rating system was created by the U.S. Green Building Council and is the nationally accepted benchmark for the design, construction and operation of high performance green buildings.
Barry Sternlicht, the Chairman and CEO of Starwood Capital says, "Buckhead is a premier luxury location attracting some of the finest retailers and restaurants from around the world, making it a perfect fit for 1 Hotel and its unrivaled ability to combine exquisite living arrangements with an environmental conscience."
1 Hotel & Residences, the world's first "green" global luxury hotel brand, was created by Mr. Sternlicht, who is widely credited with revolutionizing the hotel industry by creating such concepts as the W Hotels brand and the Westin Heavenly Bed brand of products while he was Chairman and CEO of Starwood Hotels and Resorts. The first hotel for the chain is under construction in Seattle. Other sites announced include New York, Washington, D.C., Paris, Scottsdale, Ariz., Mammoth Lakes, Calif., and Ft. Lauderdale, Fla.
The Streets of Buckhead will be an 800,000 square foot, mixed-use community in the heart of the former Buckhead Village area. The high-profile development will transform eight acres into a charming and walkable streetscape offering upscale boutiques, tony restaurants and sidewalk cafes. Upon completion, The Streets of Buckhead will feature more than 500,000 square feet of retail and restaurant space, most of which is dedicated to internationally celebrated luxury and lifestyle brands; four world-class hotels, up to 1,000 luxury residential units and more than 300,000 square feet of class A office space.
During the past fifteen years, Starwood and its affiliates have invested approximately $6 billion of equity capital in transactions representing over $30 billion of asset value on behalf the funds. Starwood has advised on and/or closed on behalf of its funds over 215 transactions ranging in size from $1 million to $14.6 billion. Recent transactions by its affiliated funds include the $3.2 billion acquisition of Groupe Taittinger and Societe du Louvre, Europe's second largest hotel network with a unique collection of 14 luxury hotels in Europe, including France and Switzerland, in addition to managing over 800 budget hotels throughout Europe. Starwood, on behalf of its affiliated funds, has led the formation and/or growth of several market leading companies including iStar Financial, the leading publicly traded finance company specializing in commercial real estate mortgage, mezzanine and net lease financing; Starwood Hotels & Resorts Worldwide, a leading global owner/operator of hotels, Westin Hotels & Resorts (through a 50/50 partnership with Goldman, Sachs & Co.) which was merged into Starwood Hotels & Resorts Worldwide in January 1998, and Equity Residential Properties Trust, one of the premier US multifamily REITs; and National Golf Properties, Inc., who, together with its private sister company, owned, leased or managed 255 golf courses.
CONTACT: Bryan Long or Jackson Spalding, both of Barry Hotel Partners,
+1-404-724-2501; or Laura O'Hare of HL Group, +1-212-529-5533, for Starwood
Capital Group; or Scott Higley of Ben Carter Properties, +1-404-869-7045
Web site: http://www.barrycompanies.com/