markets in locations such as Mexico , the Caribbean , Central America , the U . K . and Europe “ and ones where we can leverage the branded residential units with the hotel , either stacked on top of an urban hotel / separate tower on a common podium , or adjacent villas in a resort setting .”
Unlike other lodging companies , Virgin has another ace up its sleeve : Virgin Atlantic . “ Any market [ it ] flies to would be a market that we want to explore ,” Doman said .
BEST LAID PLANS Careful project evaluation and consideration of market is the calculus for a branded residence . “ If a market is good for a hotel , it might also be good for residences , but the opposite is not always the case ; there are plenty of real estate markets where we wouldn ’ t put a hotel , either due to zoning limitations or consumer appetite , but that might be ideal for a standalone residential opportunity ,” Berry said .
For Accor , it ’ s also deciding which of its brands would resonate in a specific market . “ Our geographic focus is really informed by three essential stakeholders : guests , homeowners and investment ( development ) partners ,” Tisdall said . “ Our success is defined by the ability of our projects to meet the requirements of these three groups . For each market , we carefully select the brand – or brands – that will optimize the performance of the hotel
IF A MARKET IS GOOD FOR A HOTEL , IT MIGHT ALSO BE GOOD FOR RESIDENCES , BUT THE OPPOSITE IS NOT ALWAYS THE CASE ; THERE ARE PLENTY OF REAL ESTATE MARKETS WHERE E WE WOULDN ’ T PUT A HOTEL , BUT THAT MIGHT BE IDEAL FOR A STANDALONE RESIDENTIAL OPPORTUNITY
– BRAD BERRY , VP OF GLOBAL RESIDENTIAL DEVELOPMENT ,
investments , while clearly unveiling a differentiated residential offering .”
Ensuring the brand experience is especially important with standalone projects . “ Our commitment to design and planning is essential to the success of standalone branded residences ,” Tisdall continued . “ We find that buyers appreciate knowing that the brand and the developer have worked closely together to ensure well-structured projects that deliver exceptional hospitality services within a private residential setting .”
As example , he cited Pullman Residences Singapore , which is slated to open in 2024 . EL Development is working alongside the brand to ensure that the residence director , concierge and wellness and fitness center attendants will all be directly managed , trained and supervised by Pullman .
At Rosewood , said Berry , “ We build a community of residential owners and tailor experiences depending on the location . The amenities are always considered to help us
ROSEWOOD HOTEL GROUP
provide those services , which is why these offerings are so extensive across each property .” A few examples include private dining , private shopping and wine curation .
As it expands its branded residence offerings , Hong Kongbased Mandarin Oriental Hotel Group opted for a standalone branded residence for its upcoming project in Madrid — also a first for that city — set to open in 2025 . Partnering with
Spain-based developer Blasson and Pictet Alternative Advisors , Mandarin Oriental is locating the 30-unit project in the city ’ s tony Salamanca neighborhood .
Mandarin Oriental Residences , Madrid will join standalone branded residences in Barcelona ( where prices start at $ 2.5 million to $ 40-millionplus for the penthouse , which recently sold , becoming the most expensive apartment in the city ), Beverly Hills ( where
The 186 residences at Rosewood Hong Kong soar high above Victoria Harbour .
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