Edition was the brainchild of Ian Schrager. He's the guy who created the whole boutique hotel segment with exciting hotels like the Mondrian in West Hollywood, the Delano in Miami and my very favorite, the Gramercy Park in New York. Ian is a creative genius and that's one of the reasons why we partnered with him seven months ago.
When we first looked at the boutique hotel segment, we knew there was an opportunity for a unique concept on a global scale. We now have 18 lodging brands, but we were not a player in the boutique sector. We also recognized where our company's strengths were and where we could benefit from outside expertise, and that led us to Ian Schrager.