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where Accor is headquartered , would make wonderful next chapters in the evolution of our branded residence story ,” said Tisdall .
A ROSY RESIDENCE Like Accor , Rosewood Hotels & Resorts is focused on robust residential growth , seeing the number of branded residences in development more than double over the past two years , with 14 open and nine in the pipeline , including a return to its hotel brand roots in Dallas , with a 17-story , 46- unit standalone property , the Rosewood Residences Turtle Creek , scheduled to open in 2025 . Units will range from approximately 2,000 square feet to 6,380 square feet and start at $ 3 million .
Other standalone residences set for the U . S . are Beverly Hills ( 17 units starting at $ 9 million , opening in 2024 and its first in L . A .); Lido Key , Fla . ( 65 units , opening in 2025 ); Naples , Fla . ( 42 units , opening in 2025 ); and Hillsboro Beach , Fla . ( 92 units , starting at $ 4 million and opening in 2026 ).
Internationally , the standalone Rosewood Residences Kamala will open with 14 units in Phuket , Thailand , in 2025 .
According to Brad Berry , VP of global residential development at Rosewood Hotel Group , more than 50 % of Rosewood ’ s existing portfolio and pipeline of upcoming hotels and resorts includes a residential component .
There are 17 Rosewood
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Residences that are or will be situated within or directly adjacent to a hotel or resort property , 14 of which are completed . The three under construction are : Rosewood Doha , a two-tower project in Qatar consisting of 300 residences and 173 serviced apartments set to open next year ; Rosewood Residences Mandarina , developed by Mexico ’ s RLH , set to open in 2025 with 72 private villas in Riviera Nayarit ; and Rosewood Residences Miami Beach , a 17-story tower developed by SHVO with 44 units scheduled to open next to The Raleigh hotel in 2025 .
VIRGIN TERRITORY Appealing to a younger demographic and “ young-atheart ” psychographic may be just the thing needed for the recently formed Virgin Hotels Collection ( currently
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composed of Virgin Hotels and Virgin Limited Edition ), which has indicated it plans to make a foray into the branded residence space , which also will come under the VHC umbrella .
“ There is a strong luxury lifestyle consumer base that has the economic means to buy this kind of real estate and is looking for a differentiated offering , with a brand that they have an affinity to ,” said Greg Doman , chief development officer for Virgin Hotels . “ We also have seen significant supply of traditional luxury hospitality brands in the residential vertical and believe there is significant demand for a different approach , one that emphasizes being young at heart , not taking one so seriously and one that energizes the residential experience .”
It was widely reported in 2019 that the residences launch would be part of Virgin ’ s 250-
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room , new-construction Miami hotel in the Brickell district and consist of 150 units within the 40-story building that was being developed at the time by Florida-based Blue Jay Capital , with a groundbreaking expected in 2020 .
Where the project stands currently in terms of opening is unclear . “ The pandemic created significant challenges to bringing new projects to market and put it under development during COVID ,” Doman said . “ On the upside , COVID created a post-pandemic real estate boom where both those who are looking to move or invest in key markets were seeking opportunities to purchase luxury lifestyle real estate . The pandemic slowing down the development process shifted demand and the opportunity for branded residential .”
Doman said the company is targeting urban and resort
Rosewood Doha is a two-tower project with 300 residences and 173 serviced apartments and is set to open next year .
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22 hotelsmag . com Jul / Aug 2023 |