In the current state of financial uncertainty, many would think now is not the best time to open a luxury hotel.
But Starwood Hotels and Resorts Worldwide Inc., a U.S.-based hotelier, is confident that its new St. Regis, where the cheapest room starts at ¥65,000, will be welcomed by the upper class market when it opens in Osaka in October.
"These are tough times opening a luxury hotel in Osaka. It's a challenge, and we recognize that," Phil McAveety, Starwood executive vice president and chief brand officer, said during a recent interview with The Japan Times attended by other Starwood executives.