SPECIAL REPORT
The Mandarin Oriental Residences , Madrid is opening in 2025 in the Salamanca neighborhood .
Opening later this year is Mandarin Oriental Residences , Fifth Avenue in New York , developed by SHVO . design and operation of mixeduse projects and branded living communities . He noted that of the branded residences open , 35 are connected to a hotel , with approximately 100 in the pipeline , while five are standalone , with two in the pipeline and split 66 % urban , 34 % resort , respectively .
Nearly 30 % of Accor ’ s current branded residence network is in the U . S ., but Tisdall said that growth is faster internationally , with just 10 % of current properties under development based in the U . S .
Within the international mix is lifestyle collective Ennismore , a JV partner of majority shareholder Accor that has a variety of branded residence projects open and under development . Included in the pipeline are three in Dubai : a standalone , 113-unit SLS Residences The Palm Dubai ; a 227-unit SO / Uptown Dubai Residences ; and the world ’ s first Mama Shelter Residences , set to open in 2024 in the Business Bay section of Dubai .
NEW BUYER TYPES Only a few of the Mama Shelter units remain available and the fact that the brand itself is now offering residences may surprise some . “ It is new and probably unexpected ,” Bazin said . “ But it tells you quite a bit about the positioning of lifestyle .”
Bazin said to expect more Mama Shelter-branded residences based on the 30-year-old to 40-year-old demographic that might not be able to yet afford a high-end , luxury residence , but can at the Mama Shelter price point . “ It ’ s best to keep catering to different clienteles ,” he said .
Ennismore ’ s portfolio of brands appeals strongly to a new generation of branded residence purchasers , for whom the concept did not always resonate in the past , Tisdall said . “ Brands like SO /, SLS and Mondrian enable us to help developers target these up-and-coming demographics and psychographics — buyers who are often prioritizing lifestyle , design , community and entertainment ,” he said , pointing to Mama Shelter an example of this thinking . “ Buyers are very attracted to the efficient floor plans , inspired design and the brand ’ s playful and vibrant personality ,” Tisdall said
Though affordable luxury may be the lure for such
WHEN DEVELOPING FUTURE RESIDENCES , WE KEEP IN MIND THE TRENDING DEMANDS FOR MULTI-FUNCTIONAL SPACES , WELLNESS AMENITIES , OUTDOOR SPACES , ENHANCED HOME SYSTEMS AND MORE TO CATER TO BUYERS
– ADELINA WONG ETTELSON , GLOBAL HEAD OF RESIDENCES MARKETING , MANDARIN ORIENTAL HOTEL GROUP residence purchasers , there ’ s no shortage of current and potential owners who can afford pure luxury . Toward this , Accor and various partners are continuing to focus on traditional core branded residences , such as Raffles and Fairmont . Key projects include London ’ s The Old War Office ( OWO ) Residences by Raffles coming together with owners Hinduja Group and Onex Holding ; Raffles Residences Boston Back Bay ; Fairmont Residences Century Plaza in Los Angeles ; and Fairmont Residences Royal Palm Marrakech .
“ We believe New York City , Madrid , or , of course , Paris ,
20 hotelsmag . com Jul / Aug 2023