Marriott to Open Schrager Hotels

The brand 'will be about an attitude,' the partners advise.
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Marriott (MAR) - Get Report and Ian Schrager will open a new line of up to 100 boutique hotels.

Terms weren't disclosed, but Marriott said the unnamed brand "responds to new cultural and social imperatives that Mr. Schrager says have emerged. This brand will reflect these changing lifestyles and cater to a vast underserved market of guests expecting and in turn demanding a unique experience not merely a place to sleep."

The company aims to open the hotels first in New York, Miami, Los Angeles, Chicago, San Francisco, San Diego, Boston and Las Vegas in the U.S.; London, Paris, Berlin, Frankfurt, Madrid, Barcelona, Milan and Rome in Europe; and Beijing, Shanghai, Singapore, Bangkok, Seoul and Tokyo in Asia.

"The brand will be about an attitude, about a feeling rather than a look," Schrager said. "Sophisticated public spaces, finishes, design and details will serve the experience not drive it."