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.
What Makes This Trend Stand Out
- Luxury Real Estate
- Developing luxury apartments or branded hotels and amenities is a disruptive innovation opportunity for the real estate industry
- Celebrity Branding
- Creating branded hotels, spas, and restaurants associated with celebrities is a disruptive innovation opportunity for the hospitality industry
- Financing Alternatives
- Exploring alternative financing options, apart from traditional banks, is a disruptive innovation opportunity for the financial industry
Sectors Adopting This
- Real Estate
- The real estate industry can explore innovative ways to develop luxury apartments and branded hotels and amenities
- Hospitality
- The hospitality industry can capitalize on celebrity branding by creating branded hotels, spas, and restaurants
- Financial Services
- The financial industry can develop alternative financing options to support projects that traditional banks may not be interested in
