The 203-bedroom hotel is the first new-build, freestanding Conrad venture in the USA. Conrad is not a capital partner. 'The past six months have been a difficult time for the luxury sector but we have to take opportunities as they come', said Richard Blamey, vice-president of marketing at Conrad Hotels. 'We're well aware of the tough market conditions but we are hopeful that business is going to improve.'

Further US Conrad management agreements are planned for San Diego, California; Indianapolis, Indiana; Seattle, Washington; and Las Vegas, Nevada. Outside North America, new Conrad resorts are scheduled to open in Bali next February, and in Phuket, Thailand, in November 2004.