ATLANTA— Horst Schulze, the longtime president of the Ritz-Carlton until he resigned nearly two years ago, has assembled a group of developers to build luxury hotels, according to Atlanta Journal-Constitution. The group is reportedly working out of the offices of W.B. Johnson here, who owned the Ritz-Carlton from 1983 to 1998 and grew it into a worldwide chain. Johnson possibly will participate in the new venture, said Schulze, who is still in the research phase and will decide by May whether to move forward. Schulze, who said hed like to start in Atlanta, confirmed that he has discussed developing at the Buckhead Plaza site near his office on West Peachtree, though he also has looked at many other sites around the world, said the report. Schulze has not yet assembled financial partners, he said. Experts say funding for hotels is tough to find in todays economy, though Schulzes track record would help. Several old colleagues, including Bob Warman, previously vice president of operations at the Ritz, are working with Schulze on the concept, said the report. For now, the new company is called West Paces Hotel Group, after the headquarters address. Schulze is testing a few names for the hotels, he said. The hotels likely will be built from the ground up, because customers want a new design, he said. SOURCE: Atlanta Journal-Constitution
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