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Adam Frank, 34
Trevor Pearlman, 45
Reagan Silber

Principals, Edge Group
Las Vegas, Nevada

Frank and company have a challenge: translating the W, the boutique-hotel world's gold standard, into a 3,000-unit hotel/residence and a 75,000-square-foot casino, slated to open on this spot in 2008.

"We're new to Vegas, where there's always a little luck involved. We knew we wanted to work with Starwood Hotels and Resorts, but it had been searching for a Vegas partner for six years. Only after we were able to buy our current plot of land at the entryway of what's known as the Harmon Corridor, the next frontier in Vegas, did we have the leverage to go back to Starwood and seal the deal.

The W won't open for a couple of years, so we have to try to predict where the Vegas hotel market is going and at the same time try to lead it there. Vegas has become the Hamptons of L.A. People now want to own a piece of Vegas, so we're offering a W condo. We also know that Vegas is becoming a popular business destination [see Road Warrior, page 102], so we've stressed the importance of spacious meeting areas and relaxing lounges.

Personal attention is the secret ingredient. Right now, we're working on a 'hotel within a hotel' concept at the W, where we'll be able to treat people as individuals even with our size. We have to think of ourselves not as businessmen but as producers. We're casting people from the hotel, casino, entertainment, and technology industries to keep our vision different, creative, and progressive. We've recruited Kevin Stuessi, who brought big-time chefs such as Todd English to the Bellagio and the Wynn. We also brought in Amanda Scheer Demme from Los Angeles, who's best known as the music supervisor for such films as Erin Brockovich and Mean Girls, to inspire our social scene. In terms of shopping, we're steering clear of the usual strip mall (no pun intended) and instead are going to offer up-and-coming designers the chance to open boutiques. If Steve Wynn's Wynn Las Vegas is Broadway, we want the W to be the Meatpacking District."

Vikram Chatwal

Owner, Dream hotel
New York, New York

Chatwal, 33, opened Dream with Preferred Hotels in 2004. Its hip, imaginative atmosphere has made the hotel a magnet for a mixed business, tourist, and artistic crowd.

"Dreams take you beyond what you think you can do in life. This idea is the basis of my Dream hotel. Early in my investment-banking career, I realized I was on a path that others had set out for me. This hotel opened a new business world to me--a world where my work and my personal interests combined. My Indian heritage plays a part because my culture is known for its hospitality, so in training the staff I took this reflection of kindness and care into account. Another passion I have is acting, which relates to my managerial style because when you're put under pressure, you have to perform.

Aesthetically, Dream speaks to my cultural and artistic background because it is very spiritual and surreal. The ethereal interior and neoclassical architecture are based on some of my own dreams, like the fish-tank column or the statues of Catherine the Great and Poseidon. People walk in and wonder about the thrift-store objects sitting on our coffee tables and why the lower level of my lobby seems like nighttime. There is no one answer. The point is, it makes you think. People are asking questions; they're interested.