There are 85 Residences by Raffles at the Raffles London at The OWO .
PERSPECTIVE
MASH-UP
DEVELOPERS REAP THE REWARDS OF MIXING RESIDENCE AND HOTEL .
Contributed by MARK KNOTT , VP & HOSPITALITY SECTOR LEAD , PROJECT MANAGEMENT ADVISORS , INC .
More than three years after the onset of the pandemic , the hospitality industry has , or is inching closer to , exceeding 2019 performance levels . The luxury sector , in particular , is witnessing a transformative phase of mixed-use properties and experiences , folding upscale condominium units into hotel properties and continuously expanding their offerings in premier resort destinations .
The concept of “ revenge travel ,” which refers to travel done in an effort to make up for the disruptions caused by COVID-19 , remains strong and it is helping fuel the hospitality industry ’ s comeback as affluent travelers are willing to pay a premium to explore luxury brands and take part in novel experiences . This demand is pushing new high-quality , design-forward condominium developments with full-service amenities at the top of the market in destinations around the world . Provided budget and timeline risks are kept in check , investments in this sector are likely to continue to show economic viability and have the potential to promise outsized returns .
Here ’ s a look at a few of the trends currently shaping the future of luxury hospitality .
56 hotelsmag . com Mar / Apr 2024