AFR Magazine

"The traditional trappings of luxury aren’t that important any more." Ian Schrager is back, and he’s taking aim at the "dumbed down" middle market. After redefining the "urban resort" in the 1990s, Schrager has a new obsession – delivering a $1000 experience for a $300 price tag.⁠ ⁠ Photographed for the cover of Fin Travel in his New York apartment, Schrager proves he's still the king of the night five decades on from Studio 54. Pick up a copy of the magazine today, May 16, inside AFR Weekend | @financialreview ⁠ ⁠ Photographer: Jeremy Liebman⁠ @jeremy_liebman ⁠ ⁠Artworks: Anselm Reyle⁠ @anselm_reyle ⁠ ⁠ @ianschrager ⁠ @publichotels ⁠ @publicwesthollywood ⁠ @editionhotels ⁠ #Studio54⁠ ⁠

Like a Manhattan with a Scottish accent, the classic Rob Roy is a boozy, brooding rouge libation from the original Waldorf Astoria.⁠ ⁠ To make the original cocktail at home, in a mixing glass, combine 60ml scotch whisky, 30ml sweet vermouth and 2-3 dashes of Angostura bitters with ice. Stir well for 20 to 30 seconds, then strain into a chilled coupe. Garnish with a maraschino cherry, if you like.⁠ ⁠ @waldorfastoria ⁠ @waldorfnyc ⁠ ⁠ Photo: Joe Thomas⁠

A few months shy of his 80th birthday, Ian Schrager is plotting his next revolution. The man who glamorised the night at Studio 54 and invented the boutique hotel is now declaring the "luxury arms race" officially over. In his view, the luxury traveller no longer cares for white gloves or room service; they care about speed, style and value. With his Public West Hollywood property – due to open in July – Schrager is betting on a luxury-for-all model, pairing high-end design with a mid-market price point. By stripping away the "bullshit" of traditional check-ins and paring menus down to five essential choices, he’s aiming to prove that rich people don’t want to spend more just because they can. ⁠ ⁠ In Fin Travel, Schrager talks to Christine Muhlke about his next move. The magazine is out on Saturday inside the @financialreview .⁠ ⁠ Photographer: Jeremy Liebman⁠ @jeremy_liebman ⁠ @xtinem ⁠ ⁠ @ianschrager ⁠ @publichotels ⁠ @publicwesthollywood ⁠ @editionhotels ⁠ #Studio54⁠ @anselm_reyle ⁠

For Baz Luhrmann and Catherine Martin, travel is the fuel for their high-octane creative lives. From the earliest days of their "fabulous bohemian dream" in a furnitureless Parisian apartment to Luhrmann’s trans-Siberian retreat that spiritually resuscitated him after Moulin Rouge!, they have always lived by a simple mantra: have your roots but use your wings.⁠ ⁠ In their world, travel isn't just about the destination; it’s about decoding a visual language. Whether it’s Luhrmann tracing every step Joan of Arc ever took for his next project or Martin finding "majesty and beauty" in a Mexico City rubbish tip, they move through the world with an obsessive curiosity. This philosophy recently culminated in a "glow-up and a half" for @belmond , where the duo transformed a private British Pullman train carriage into a 1930s theatrical stage, allowing guests to step directly into one of their movies.⁠ ⁠ As Martin puts it, seeing the world is a "healthy kick in the pants" for one's own problems. The duo discuss their creative process and latest adventures in Fin Travel, out on May 16, only in the @financialreview .⁠ ⁠ Photographers: Hugh Stewart, Pia Riverola, Ludovic Balay ⁠ @hughstewart_ ⁠ @piariverola ⁠ @ludovicbalay ⁠ ⁠ Video: Jonangelo Molinari⁠ @jonangelo_molinari ⁠ ⁠ @bazluhrmann ⁠ @catherinemartindesigns ⁠ @belmondbritishpullman

Picking her way through a crumbling 18th-century palace by the glow of an iPhone, Jane Knight finds Napoleonic canopy beds and dusty library files waiting for a revival. This "ruin-to-radiance" transformation is the calling card of Vestige, a burgeoning family-run empire turning Spain’s forgotten architectural gems into the ultimate under-the-radar retreats.⁠ ⁠ The action is focused on the Balearic island of Menorca, a UNESCO biosphere reserve where strict laws dictate that new hotels must only rise from existing properties, as they did at Son Ermità, a 225-year-old whitewashed farmhouse turned luxury getaway and the Italianate Son Vell, originally an 18th-century manor.⁠ ⁠ For the Madera family, this isn't just hospitality; it’s a decade-long obsession with authenticity. From sourcing ancient beams that take years to find to reclaiming antique handles from warehouses in Asturias, they are stitching together a patchwork of castles, fincas and palaces across Spain and beyond. As director Marta Madera puts it, they aren't traditional hoteliers – they simply seek the "emptiness and silence" of beautiful places and give them a second life.⁠ ⁠ Read the full story in this week’s issue of Fin Travel, out on May 16, only in the @financialreview .⁠ ⁠ @vestige.collections ⁠

When Australian travel adviser David Prior invites you into his world, he serves pasta.⁠ ⁠ Welcome to the "Spaghettata", Prior's annual party at his home in Milan. From fashion designer JJ Martin to socialite Derek Blasberg, the guest list is a who’s who of the creative upper echelons, all gathered for a ritual before the Salone del Mobile furniture fair begins.⁠ ⁠ But for Prior, this isn't just a party; it’s the philosophy behind his company, PRIOR. He’s built a travel empire on the idea that luxury isn't about being alone in a villa – it’s about community, access and "the story you tell yourself about yourself".⁠ ⁠ Read the profile on the man Gwyneth Paltrow calls the one who "always knows" in our annual Fin Travel magazine, out on May 16 inside the @financialreview .⁠ ⁠ Photographer: Valentina Sommariva⁠ @valentinasommariva ⁠ ⁠ Athena Calderone @eyeswoon ⁠ ⁠@davidprior ⁠ @prior ⁠

“In a country that doesn’t really have social security, you need religion, and religion needs flowers," Manjit Singh Hoonjan of Calcutta Photo Tours tells Ute Junker.⁠ ⁠ In the heart of Kolkata, a city of 15 million, lies the Malik Ghat flower market – India’s largest and most intoxicating floral hub. Here, thousands of vendors trade in tuberoses, roses, and hibiscus, but these blooms aren't destined for vases. They are offerings for the gods.⁠ ⁠ As Hoonjan explains, the market is a place of deep symbolism. The humble marigold is the "all-purpose" favourite; even a 3-cent garland offers a "composite" of hundreds of tiny petals to the divine.⁠ ⁠ Read more in the annual glossy Fin Travel magazine, out on May 16 in the @financialreview .⁠ ⁠ ⁠Photographer: Elise Hassey⁠ @elisehassey ⁠

There comes a moment in an overstimulated life when travel begins to blur. How do you break the cycle of travel apathy? It starts with a new set of rules ... ⁠ ⁠ Ask 'what', not 'where': Plan around a passion – surfing, yoga or a literary festival – rather than just a map co-ordinate.⁠ ⁠ Go high or low: Lean into the prestige of ultra luxury or the grit of a wild campsite. Apathy lives in the forgettable middle ground.⁠ ⁠ And never pack a bag you can't carry yourself.⁠ Freedom is the ultimate luxury.⁠ ⁠ For the full set of modern rules of travel, pick up the next issue of Fin Travel, out on May 16, only in the @financialreview .⁠ ⁠ Poolside at Il Delfino Seaside Inn Yamba ⁠ @ildelfino__ ⁠ Anti-gravity yoga at Four Seasons Resorts Bali⁠ @fourseasons ⁠

The first thing you notice in this corner of central India is the green. It is a rolling, hazy watercolour of emerald, jade, and lime – an Indian pastoral that feels both lush and eternal. ⁠ ⁠ While Rajasthan and Kerala often steal the spotlight, Madhya Pradesh is home to the Khajuraho Group of Monuments, a UNESCO-protected marvel of Hindu and Jain architecture. And now, there is a new reason to visit: The Oberoi Rajgarh Palace.⁠ ⁠ After a decade-long restoration of this 17th-century Bundela maharajah’s home, the property has emerged as a "pearl in an emerald wilderness". Think hand-painted tropical murals, black-and-white mosaic bathrooms and 200-year-old carved beams – all sitting on the edge of a tiger reserve where the population is triumphantly rebounding.⁠ ⁠ As Maria Shollenbarger writes, this new opening is a high-polish version of the India of old, contemporised for the modern traveller.⁠ ⁠ Find the full story inside our annual luxury travel glossy magazine, Fin Travel, out on May 16, only in the @financialreview .⁠ ⁠ @oberoihotels ⁠ @theoberoirajgarhpalace ⁠ ⁠ #OberoiHotelsandResorts ⁠ #TheOberoiRajgarhPalace

We’re living in the era of "wellness" – of biohacking, breathwork and mocktail-stocked minibars. But in Paris, a new wave of nightclub-hotel hybrids is emerging as a hedonistic antidote. ⁠ ⁠ From L’Aventure, Thierry Costes' sleek new opening in the 16th, to the resurrection of the legendary Bus Palladium as a 35-room hotel and concert hall, debauchery is making a comeback. Then, of course, there is Les Bains – the Studio 54 of Paris – which remains a magnet for the fashion set and late-night revellers.⁠ ⁠ As Costes tells @kat_madd : “We’ve created a living, breathing Parisian house ... The people connect with one another. They go from one space to another, and it’s very cool to have this mingling.”⁠ ⁠ Read the full story in next week's issue of Fin Travel, out on May 16, only in the @financialreview .⁠ ⁠ L'Aventure nightclub-hotel hybrid @laventurehotel ⁠ Bus Palladium @bus_palladium ⁠ Les Bains hotel @lesbainsparis ⁠ Les Caves du Roy nightclub @lescavesduroysainttropez

Last Tuesday, AFR Magazine and UBS co-hosted the inaugural Changemakers’ dinner to celebrate the release of our magazine’s annual philanthropy issue. The dinner for 80 people was held at Grill Americano in Sydney and drew a crowd of entrepreneurs, founders, CEOs and those at the helm of major foundations. Our special guest was Robin Khuda, founder and CEO of AirTrunk. Last year Khuda announced he would donate $100 million to the University of Sydney so it can encourage more women from western Sydney to study science, technology, engineering and maths. Asked by Financial Review editor Cosima Marriner about whether it was better to give money away in one’s lifetime, or across multiple generations, Khuda said he was in the first camp. “Handing away a big chunk of that is not an easy decision,” he said. “The way I see it is like setting up your own business. What is the challenge? There are not enough people in STEM. So start a business to fix that. I have the capital to make that change.” Andrew Bird, head of global wealth management at UBS Australia spoke about how approaches to philanthropy and impact investing have evolved. “The intergenerational transfer of wealth is accelerating, bringing fresh perspective, new expectations and, in many cases, a desire to engage differently. At the start of the dinner Chris Lucas, the restaurateur behind Grill Americano, announced that his own philanthropic endeavour, Collective Foundation, had struck a partnership with Monash Business School to create courses targeted at those looking to further their career in hospitality. 

“This dinner came about with a very simple idea,” said AFR Magazine editor Matthew Drummond. “The Financial Review is a newspaper for people who are trying to build their wealth. UBS is in the business of helping people manage and growth their wealth. And we just thought we should bring our two businesses together and hear from someone like Robin as to what having wealth means to them.” Photos @weddingphotosbyoscar @ubs @grillamericano

Out today inside the @financialreview ... ⁠ ⁠ Gillon McLachlan, CEO of Tabcorp,⁠ is Melbourne royalty. His nine-year run as chief executive of the AFL has made him one of the city’s most prominent citizens; aided by his height and signature wavy black hair that make him instantly recognisable.⁠ ⁠ He can be disarmingly charming. But he can also be irreverent and crass, particularly around the people he knows well. He fusses over the smallest of details, like a table setting, and insists on being the last person to board a plane. He has been known to call a bar directly to order drinks if a waiter takes too long to come and serve him. He is a member of two golf courses, Royal Melbourne and Cathedral, and he says he doesn’t care what people think of him. “Unless they really know me,” he adds.⁠ ⁠ McLachlan, one of the most intriguing business leaders in Australia, is profiled by Zoe Samios for the cover story of our May issue. Don't miss it! ⁠ ⁠ Photography by @kristofferpaulsen