Originally Posted by Kagehitokiri

"affiliated with Lehman Brothers" WOW had no idea setai owners were another victim of lehman fallout - that explains no management company, no setai club, etc - only licensing (attempt with san diego, success with new york)

much much worse than loss of FS provence

the short list of quality US properties has just gotten shorter

this is simply cutting costs more like aviara for example than waikiki edition (misrepresentation esp Schrager) but in this case (lehman) could be bank driven

but one thing that i dont understand is the building is sold out right.. i guess i dont know if there have been defaults/foreclosures, but for example condo owners at st regis FLL wanted change to RC. seems odd owners at setai (2 pool penthouses are insane $ figures) would want to downgrade management. so maybe there was some kind of issue, like a couple condo owners got upset about something. of course power of HOA vs owner also matters whenever its not a COOP. might see another/additional mgmt co changes.

will be interesting to hear what happens with long time staff, and how bad service gets how fast

also means some of the other ghm losses may simply be financially driven, but still not good for brand
wonder how ghm ownership is structured in relation to DLF owning aman etc, and do they only manage

thai styled penthouse A just changed hands in december for record setting $21.5mm
good for seller, not so good for buyer (this isnt the one in hotel inventory, seems unlikely to change)