With last month’s opening of the Waikiki Edition in Honolulu, the boutique and lifestyle segment of the hotel industry may have crossed into a new era of recognition and acceptance by the traveling public. While b-list celebrities were lounging at the pool and the national press was lauding the opening of the hotel, the first result of a strange marriage between Ian Schrager and Marriott International, owners, operators and would-be developers gathered at the Fontainebleau Hotel in Miami Beach for the 2nd annual Lifestyle/Boutique Hotel Development Conference.

While it wasn’t covered by as many media outlets as the Edition opening, the conference may have signaled an even more important landmark for the boutique and lifestyle segment. The message conveyed by the 40 or so speakers at the three-day event sponsored by Lodging Hospitality was consistent: The boutique business has arrived in the minds of developers, brands and most importantly, lenders. The segment is no longer a stepchild or sub-set of the upscale hotel market. It’s a property type with its own investment profile and opportunities for wider distribution. The smart money will jump on this opportunity, particularly as the lodging industry continues its recovery and the first signs of new lodging development blossom.

As development executive Ellen Brown pointed out, her firm, Denihan Hospitality, has never had to pay a premium for financing the independent boutique hotels it owns and operates. And, of course, the reason is simple: Denihan and scores of other boutique and lifestyle hotel companies develop and operate properties that are extremely successful, have lots of loyal followers and, above all, are very profitable. When it’s all said and done, the lodging business isn’t about show business or headlines, it’s about making money, and boutique and lifestyle hotels do it very well.

A lot of the conversation at the conference involved whether boutiques can be branded and what is the difference between a boutique and a lifestyle hotel, and does it matter anyway. While interesting, all this chatter was mostly noise. The real story of the conference, and of the burgeoning boutique business is the health of the segment and its very positive outlook for the coming years.

If you’re a developer looking for the next big thing in the lodging industry, check out lifestyle and boutique hotel opportunities. Whether you go branded or not, there are many locations in the U.S.—and not just in the gateway cities—where a boutique property (or multiple properties) can find a niche, probably at above-market room rates, and enjoy a long, successful ride.

If you weren’t able to attend the conference, be sure to read our comprehensive coverage of the event beginning on page 10. While financing and branding issues were the hot topics at the conference, other sessions dealt with key issues such as the role of design, how to leverage social marketing and the best approaches to food and beverage at a boutique hotel. If you attended the conference, I’d like to hear your impressions of the event and any suggestions you have for next year.