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How The Boca Raton Fared After Dropping the Waldorf Astoria Name
Description
De-flagging from Waldorf-Astoria worked for The Boca Raton because Michael Dell's firm could absorb two years of pain and $400 million in capex.
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When The Boca Raton took down its Waldorf Astoria branding in 2021, it walked away from the machinery big hotel groups say properties can't live without. The 200-acre Florida resort lost Hilton's loyalty program, the reservations and property-management tech, the group sales force, and nearly all of the historical guest records. MSD Partners, the investment firm of Dell Technologies founder Michael Dell (now BDT & MSD Partners), had bought the resort from Blackstone in 2019 for $875 million. It put close to $450 million into renovations and added about 200 rooms since its purchase. In the past year, the resort has had an average daily rate of $980 (excluding groups), it said. That's up from about $390 pre-pandemic, according to a S&P Global Ratings pre-sale report. Brands like Waldorf-Astoria sell owners a few things: guests, technology, and operating expertise. The Boca Raton replaced each one: creating word-of-mouth amon
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Total score: 70/100
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