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Billionaire Larry Ellison teamed up with Robert De Niro and chef Nobu Matsuhisa to open a hotel where rooms start at $1,100 a night

Ten years after he bought the beachfront Casa Malibu Inn for $20 million, Oracle founder Larry Ellison is just about ready to unveil the first in a new group of ultra-high-end luxury retreats.

 He's doing it with a trio of high-profile partners: Robert De Niro, chef Nobu Matsuhisa, and film producer Meir Teper. Dubbed Nobu Ryokan Malibu , a new 16-room hotel now stands on the property Ellison bought a decade ago. It's the first in what is being called the Nobu Ryokan Collection, a new group of luxury retreats in exotic destinations around the world, created by Ellison and the creative minds behind the Nobu restaurants.

 The experience, which is modeled after a traditional Japanese inn, won't come cheap - according to Curbed , rooms will start around $1,100 a night, though that rate could go up to $2,000 during "preferred" times.

China Hotels Growth Expected to Slow

Business activity for China's hoteliers weakened in February according to the latest reading of the country's Hotel Industry Pulse (HIP). e−forecasting.com's China HIP - a business analytic which tracks monthly overall business conditions in China's hotel industry - decreased 0.2% in February to a reading of 94.4. HIP index is set to equal 100 in 2010.