FORT LAUDERDALE— LXR Luxury Resorts is developing a new boutique hotel brand to be known as Stay Social with the first property scheduled to be a conversion of a Holiday Inn here. According to local press reports, LXRs parent, the Blackstone Group, is investing $20 million on the conversion. The concept for the new brand grew out of the Social Restaurants, which have operated successfully in Miami and Los Angeles. The restaurants are operated by China Grill Management, which has provided input into the hotel design and ambience. In the past three years, The Blackstone Group has assembled a large lodging inventory, which includes Extended Stay Hotels, and La Quinta Inns & Suites, among other holdings in addition to LXR. LXR executives were not available to comment on future growth plans for Stay Social. The model, however, seems to be James Hotels, which began with a Holiday Inn in Scottsdale that James converted to a stylish and contemporary boutique hotel. LXR already has a major presence in the Florida market with 16 properties, roughly half its overall distribution. The flagship of the Florida portfolio is the Boca Raton Resort & Club.
