Baccarat to Open N.Y. Luxury Hotel
June 1, 2013,
The proposed duplex of the Baccarat Hotel & Residences New York
Baccarat is building a luxury hotel and residence in one of the toniest areas of Manhattan, extending its reputation beyond crystal and anchoring its position as a luxury lifestyle brand.
Baccarat Hotel & Residences New York, 50-story glass residential tower located on 53rd Street just off Fifth Avenue across from the Museum of Modern Art, is slated to open in late 2014, the same year the crystal company will celebrate its 250th anniversary.
"This will be arguably the most spectacular facade in Manhattan," said Scott Rohm, president of SH Group. Baccarat is majority owned by a subsidiary of Starwood Capital Group, and SH Group is Starwood Capital's hotel brand management company. This new hotel and residence will serve as the global flagship for the Baccarat Hotel brand, Rohm said.
"Baccarat is a brand that has always been about a way of life--it is not a luxury jewelry brand adapted to the hotel space," Rohm said. Referring to the French crystal company's historical role to enhance the lives of kings and queens, Rohm said Baccarat Hotel & Residences New York will continue that tradition, "creating a destination for home owners and travelers who want more out of life."
There will be 61 private residences ranging from one- to four-bedroom apartments, as well as one five-bedroom penthouse duplex with an outdoor loggia. Prices for the Baccarat Residences range from approximately $3.5 million to $60 million.
A signature Baccarat fixture will be incorporated in the foyer of each residence. The interiors are conceptualized by designer Tony Ingrao, who spent many years in France and has collected Baccarat. "Baccarat has always been an inspiration to me," Ingrao said in a statement. "From a very young age, a special occasion was marked when my parents brought out their Baccarat crystal."
Future Baccarat locations are planned for Rabat, Morocco; Dubai, United Arab Emirates; Marrakech, Morocco; and other locations in the Middle East and Asia.
This month marks the opening of Baccarat's newest flagship store on Madison Avenue in New York. The design concept for the 2,800 square-foot store will become a new global retail prototype for the brand, Rohm said.-Allison Zisko