Oscar de la Renta Forecasts Recovery for the U.S.
Oscar de la Renta, who is one of the world’s most famous fashion designers as well as the owner of a luxury resort in the Dominican Republic, gave his take on what luxury—an oft-overused word—means to him while speaking at The Leading Hotels of the World’s Annual Convention. “Luxury is very simple. It’s not about riches. It’s a place where you feel an inner peace about yourself.”
De la Renta, who is an owner, along with Julio Iglesias, Frank Ranieri and Theodore Kheel of the Punta Cana Resort & Club, said the group will begin building an additional boutique hotel next year and that it is looking to expand to other locals in the Caribbean as well as Central and South America.
De la Renta, who designs for the wealthiest people in the world, also gave his take on the current economy: “There is a lot of money out there but people are holding onto it. Once we build a sense of confidence, we will be over this phase. [The recovery] will happen very quickly in the United States,” he said with confidence.