Jay-Z's Luxury Building Plans Fall on Jammed Ears
Going Like Sixty — January 1, 2009 — Business
References: nytimes
Jay-Z is a Donald Trump wannabe, but the credit crisis has killed his plans for a deluxe apartment in the sky for his lady love, Beyoncé Knowles.
Before the recession, Jay-Z had also worked with a developer who had envisioned a wonderful area constructed around a former warehouse. He wanted to include a five star hotel and boutiques and spas and restaurants that would be branded as ‘J Hotels.’
Alas, poor Jay-Z, if you can’t fund it yourself, the banks aren’t interested, and the whole project is kaput.
Before the recession, Jay-Z had also worked with a developer who had envisioned a wonderful area constructed around a former warehouse. He wanted to include a five star hotel and boutiques and spas and restaurants that would be branded as ‘J Hotels.’
Alas, poor Jay-Z, if you can’t fund it yourself, the banks aren’t interested, and the whole project is kaput.
Trend Themes
1. Luxury Real Estate - Developing luxury apartments or branded hotels and amenities is a disruptive innovation opportunity for the real estate industry
2. Celebrity Branding - Creating branded hotels, spas, and restaurants associated with celebrities is a disruptive innovation opportunity for the hospitality industry
3. Financing Alternatives - Exploring alternative financing options, apart from traditional banks, is a disruptive innovation opportunity for the financial industry
Industry Implications
1. Real Estate - The real estate industry can explore innovative ways to develop luxury apartments and branded hotels and amenities
2. Hospitality - The hospitality industry can capitalize on celebrity branding by creating branded hotels, spas, and restaurants
3. Financial Services - The financial industry can develop alternative financing options to support projects that traditional banks may not be interested in
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