Designer-branded hotels proving luxury is now about experiences

In this age of plenty, when any commodity you could wish for is readily available to anyone who can afford it, the glitter of "things" is losing its luster. Rich people can no longer be show-offs to their friends by flaunting expensive items, because their friends can easily acquire the same things themselves. In short, the new frontier of luxury is no longer commoditized objects, it is experiences. And the world's top fashion brands are embracing the experiential luxury market with gusto. One of the most obvious areas of this trend is in tourism, where the last few years have seen an explosion of designer brand hotels, including those by Versace, Armani, LVMH, Ferragamo, Bulgari and Moschino. Now, Karl Lagerfeld, the lead designer of Fendi and Chanel, is adding his name to the growing field of celebrity-named hotels. Breaking ground in Macau and scheduled to open in 2017, the 20-floor property is set to have 270 guestrooms and be part of a larger complex housing high-end restaurants, shops and casinos.