Daily Pampering: Living large on Wall Street with the Ritz-Carlton

If you have Gordon Gekko-style ambitions and want to live large like your favorite fictional Wall Street character, The Ritz-Carlton New York, Battery Park, has a package for you.

The Ritz-Carlton New York, Battery Park is offering professionals an exclusive, two-night “Wall Street Style” package – complete with tools to turn yourself into a tailored tycoon and make it in the world of finance. The package is available for the weekend of October 1 – 3, 2010 and is available for booking through September 22, 2010.

The package includes:

  • 2 night accommodation in a Statue of Liberty View Executive Suite
  • Bottle of champagne in guest room on arrival
  • Style consultation at Saks Fifth Avenue with Style Director and Personal Shopper
  • $1500 shopping credit with Saks Fifth Avenue
  • For Men: A shaving consultation and Signature Full Service experience (scalp massage, shampoo, conditioning treatment, hot towel, haircut, manicure and shoe shine) at John Allan’s Club at Saks Fifth Avenue
  • For Ladies: Hair style at Saks Fifth Avenue Salon and Spa Makeup consultation at Dior Dine with Confidence workshop 5 course dinner with alcoholic beverages (to apply their new found skills)
  • Private town car service between hotel and participating locations

The total price for living large? Prices start from $4500 based on single occupancy and $7000 based on double occupancy.

Want more? Get your daily dose of pampering right here.

Hyatt’s Andaz opens new hotels in New York, California

Hyatt’s boutique brand, Andaz, is making its way from coast-to-coast with new properties in New York and California. Andaz Wall Street opened Jan. 18 and another New York property will be unveiled on 5th Avenue later this year. In the meantime, Andaz San Diego is opening its doors on Feb. 1.

The Andaz Wall Street (photo) features 253 guestrooms with loft-like ceilings and seven-foot windows. Guests can dine at the hotel’s restaurant, Wall & Water, which overlooks the East River. Bar Seven Five, named for its 75 Wall Street address, serves cocktails and appetizers until midnight. Rates for the Wall Street Andaz start at $275/night.

Andaz San Diego will debut in the property currently known as Ivy Hotel in San Diego‘s Gaslamp Quarter at 6th Avenue and F Street. The 159-room hotel features 17 suites, one with exclusive access to a poolside cabana. The Ivy Rooftop features a pool overlooking the city skyline, and serves cocktails until you’re ready to dine at the Ivy Ultra Lounge and Wine Bar, which serves 88 wines by-the-glass. The multi-level Ivy Nightclub gets hopping late-night but don’t worry, the Quarter Kitchen will serve up your hangover recipe of choice the next morning.

Hyatt launched the boutique hotels in 2007 and currently has locations in London and West Hollywood.Rumor in the hotel world is that Hyatt will open an Andaz Austin later this year. We’ll keep you posted on details.

US Helicopter suspends 8-minute service from airports to NYC

New York jet-setters short on time got some bad news last week. US Helicopter, which previously offered 8-minute helicopter flights from two local airports to Manhattan, announced on Friday that it is suspending service.

The chopper company offered flights for $159 each way from JFK and Newark airports to the Wall Street or Midtown West heli-pads in New York City, but has ceased operations due to insufficient funds. The young company (it’s been around for about 3.5 years) has been no stranger to financial troubles. According to Jaunted, they often ran $99 specials to drum up business. Apparently, people just aren’t willing to splurge on private helicopter rides, which cost about four times the price of a cab, during a financial crises. Go figure.

But there’s still hope for the impatient or super-rich. The company says it’s just on hiatus while it gets its “act together” and that it will be back, bigger and better, by November.

See the financial crisis on this unusual Wall Street tour

It’s rare that you get a guided tour through still unfolding carnage. Imagine walking through Aceh right after the tsunami or New Orleans while the rains from Katrina still fell. Lower Manhattan‘s financial crisis tour doesn’t involve as much bad weather or physical danger, but it does give you the chance to learn about the most profound financial disaster in decades in the place where it all started.

This is “The Wall Street Experience.”

Guided by a former Wall Street insider, you’ll spend the 90 minute tour learning how some traders raked in billions in profits while entire banks came to an end. Also, you’ll be introduced to a “shadow banking system” that the government ignored until it was too late.

It’s not all mayhem down on the Street, though.

The tour will give you an overview of the history, architecture and trivia for this part of the city. The culture of the trader is wrapped up in these walls and streets – and you’ll hear all about it. But, did you know that this was once the political center of the United States? A statue of George Washington stands in front of the building from which he governed the country, staring across the street at a world of financial engineering he’d probably never be able to understand.

The tour guide, Andrew Luan, is a former Deutsche Bank vice president and traded what are now called “toxic assets.” He charges $40 a person, though children are free. Part of the proceeds goes to increasing financial literacy. Financial illiteracy is at crisis levels right now, so I applaud Luan for this. If you have become a victim of the financial crisis, The Wall Street Experience does offer weekly tours for those who can’t afford to pay.

Making sense of the airline industry

The situation is currently grim for airlines, having gone from “bad in January to ugly by March,” according to USA Today, mirroring the U.S. economy as a whole. But, some feel that the worst is behind us. At the same time, a decline in business traveler traffic may suggest that we have a long way to go.

That’s why I love USA Today … two perspectives for the price of one!

Let’s make one thing perfectly clear: airline executives are unanimous in refusing to state that a recovery has begun. Keep in mind that CEOs have to be incredibly careful whenever they speak. Something that’s interpreted as a prediction could be disastrous later. A prediction becomes a goal to be met, and failure to do so can have harsh implications on the stock price.

In case you don’t know, that means real people lose real money.

That being said, Delta, American and Continental executives allowed themselves some modest hope, suggesting that “at least traffic levels aren’t collapsing the way they did last year.”

For now, there’s little to celebrate aside from the hope that we’ve hit bottom. Continental’s revenue per available seat mile (RASM) fell 4.8 percent in January, 11.5 percent in February and 20 percent in March. April is likely to be down 13 percent to 15 percent.

RASM basically tells you how much revenue an airline pulls in for every seat flown. Let’s make it easy: assume that a plane has two seats and flies 100 miles. One passenger pays $200 and the other pays $100. The first passenger pays $2 per mile, and the other pays $1 per mile. It averages out to revenue of $1.50 per available seat mile.

Now, assume that we have a third seat … and it’s empty. So, we’re working with $2, $1 and $0. That’s RASM of $1 (as opposed to the $1.50 above).

Figuring this out for an entire airline for a full month is obviously much more complicated, but you can probably see the value in doing so. It’s a way to figure out just how productive every seat on every plane is – even the empties.

Delta’s perspective is that things aren’t getting worse right now, even if they aren’t good, and American believes that it’s too early to tell.

The decline in business travel is seen as a big part of the problem. Business travelers tend to spend a lot of time in planes, and they don’t always get the lead time to buy tickets (or prepare their families for long absences) that they’d like. As a result, they often pay more for tickets than vacationers, who have the luxury of planning ahead.

To keep expenses down, many companies are trying to cut their spending on travel, opting for other collaboration alternatives. While face-to-face meetings are nice, they tend to be a lot more expensive than webinars and conference calls. When you have to squeeze the budget, travel is an easy place to cut spending a bit.

I saw this firsthand during the last economic downturn (following the collapse of the “dotcom economy” and the terror attacks of September 11, 2001). I was a management consultant and flew every week. While my clients were willing to foot the bill for weekly travel, I found myself under a lot more pressure to find cheaper flights, stay at hotels that were less expensive (and less convenient) and take a taxi to the airport instead of driving and putting my car in the lot for a week.

Though business travel can be cut, it won’t go away completely. There will always be a need. While many cite conventions as a source of business travel, you’re more likely to run into weekly grind travelers at airports in this economic environment. Catch the first flight out of a major airport on a Monday morning, and you’ll see business and business casual attire, laptops clutched and weary looks. These people make the same run every week, returning home on a late flight Thursday or Friday. When you have a lot of people dropping $500 a week on flights – each doing it 40 times a year or more each – the airlines benefit. When they slow down, the airlines feel pain.

To compensate, as you’ve seen here on Gadling, airlines are coming up with more fees – and they’re not all as crazy as the Ryanair pay-to-pee proposal. Baggage charges seem to be most common, with Delta hitting up passengers for $50 to check a second bag on international flights (starting July 1, 2009). The airline hopes this will generate another $100 million this year.

Delta’s not innovating, here; it’s just the most recent.

The need is salient, given recently released first quarter financial results. JetBlue and AirTran stood out by turning profits ($12 million and $28 million, respectively), largely because the cost of jet fuel dropped. Take that out of the equation, and AirTran’s 31 percent revenue decline would have had a greater impact.

Meanwhile, US Airways posted a $103 million loss. Alaska Air Group lost $19.2 million for the quarter. Delta, American and United showed substantial losses, as well.

Leisure travel isn’t the primary driver, as fare deals have kept this section of the market fairly active, if less profitable. It’s the business travelers who are straining airline financial performance. It will take a turn in the economy to solve this problem. Any measures available to the airlines are more likely to slow the bleeding than repair the situation as a whole.

When will that happen?

Like the airline CEOs, I’m not crazy about making predictions, as my success is shaped more by luck than clairvoyance. But, I’ll take a small step out on a limb. Businesses will green light travel increases when they see an upside to doing so. When sales teams encounter big opportunities, they will be able to make the case to fly. This means that a client has to be ready to write a big check. Also, startup activity will result in the use of venture capital funding to hop on planes with the hope of pitching new ideas to clients interested in growing their businesses or realizing a cost savings.

You won’t notice it at first; these trends take a while to gain steam. Success builds upon success, with each win leading to several new opportunities and a willingness to fund travel for them.

Am I willing to throw a date or timeframe out there?

No way!

We’ll all have to wait and see.