The United States and Asia: the hotel is a part of a global real estate project. The strength of the brand seduces a clientele searching for a luxury pied-à-terre. Marriott is banking on its Residences at the Ritz-Carlton and the St Regis in New York will transform ten or so of its rooms into condominiums and Ian Shrager is heading into the adventure at the Gramercy Park Hotel in New York. The same observation may be made in Asia, where cities in full effervescence prefer multi-purpose over discrete and refined luxury, a trademark of large Asian groups.The Middle East: the region of superlatives. After Dubai with the emblematic Burj Al Arab, the palaces out of a Thousand and One Nights are multiplying at a dizzying rate. The latest remarkable opening: the Kempinski Emirates Palace at Abu Dhabi. Other mega-projects have yet to be unveiled. Some of these are eccentric like Hydropolis, an under-water hotel that could open its doors in Dubai. It is everything but an April Fools joke, according to its promoter, entrepreneur Bruce Jones.Europe: hotels on the Old Continent are demonstrating their reconversion skills. An old convent such as the Villa San Michele (Orient Express), ex- central bank in East Germany as the future Rocco Forte in Berlin: luxury properties give new life to the historic heritage of their city. The best example – and the most recentis in Budapest with the rehabilitation of an abandoned old Art Deco splendour to create the Four Seasons Gresham Palace.The Indian Ocean and Pacific: at the resorts, it is a time for villas. With the bursting of the classic family schema and short holidays, the stressed businessman would like to rest surrounded by family and friends. The Ritz-Carlton Clubs and Four Seasons Residence Clubs are responses to this new demand. In...