Ian Schrager, 67, opened his third Edition hotel (in association with Marriott) in London's Berners Street in September. Here, the godfather of the "superclub" (he co-owned New York's legendary Studio 54, before going on to create design-led hotels such as Morgans, the Delano and the Mondrian) shares a little of the hard-won wisdom that's earned him the sobriquet "the Warren Buffett of boutique hotels"...

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