HotelsMag March-April 2022 | Page 38

INVESTMENT
work but where guests can come and stay . It ’ s the overall destination that makes them more attractive .”
Bhushan adds that Ennismore is working through several projects that have elements of residential , cowork and extensive entertainment facilities built into single platforms . “ Then you start to look at the rooms businesses as only one minor component of the overall ecosystem because a lot of the business is local . The coworking business , the bar and restaurant business – it ’ s almost entirely local .” The way forward If it seems like Ennismore has too many brands in the lifestyle space , especially considering most of these brands are no more than a decade old , Bhushan makes an interesting case for the mix . “ The whole point of having more brands is to make sure you don ’ t dilute a brand by over scaling ,” he says . “ We want to make sure that we can get scale with the entire Ennismore platform , which you need to run a profitable business , but you don ’ t want to necessarily scale each brand . We are trying to keep each brand authentic , focused on making sure they have a purpose , a mission . That way , we can stay true to what the brands stand for and they can stand the test of time .”
Bespoke brands are also a little more difficult to develop , but 2021 was a pretty good year for the Ennismore pipeline .
Again , Bhushan points to the design-driven affordable luxury TRIBE brand as one of the highflyers in the Ennismore stable . “ It fits the need of the market at the right level ,” he says . “ It is attacking that segment , which so far has been dominated by very functional products . It is bringing a type of product – with its look , feel and experience – that is quite different .”
He calls it uncomplicated , authentic and cool , built around being in a neighborhood where people can hang out , have a coffee or drink , at a very affordable price point . The TRIBE in Paris , Bhushan says , even has standup comedy shows in its lobby . Again , he suggests doing things differently to build a sense of community and making people feel at home matters now more than ever .
Looking more geographically , even though Ennismore brands are not managed by region , Saudi Arabia , not surprisingly , is a hot spot for the group as it recently
Fi ’ lia at the newly opened SLS Dubai