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pre-pandemic and have already committed to that course. Very few new ones at that level are planned.”
MIXED FEELINGS It doesn’ t mean luxury development is not happening, especially mixed-use projects that contain residential components; just ask Marriott, which, in conjunction with Related Group and BH Group, recently announced W Pompano Beach Hotel & Residences, a co-located property that blends residential and hotel, with condominium residences and condo-hotel suites designed by Meyer Davis. Staying in Florida, Marriott opened The St. Regis Longboat Key Resort last fall, a newbuild development with 168 guestrooms and 28 suites, along with 69 branded residences.
Sixty-nine percent of Marriott’ s luxury residential
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pipeline is co-located to a hotel.
According to a recent report put out by Savills on branded residences, there are some 740 completed branded-residential developments with another 790 expected to be delivered by 2031.
It’ s multi-use projects like these that are keeping Marriott’ s luxury pipeline full, said Dana Jacobsohn, CDO of North America luxury brands and global mixed-use for Marriott International.“ We have seen expanding opportunities with mixeduse developments. Many developers have found that mixed-use projects with branded residences can provide added benefits while helping to diversify their portfolios,” she said.
In other cases, developers are adding residences to an existing hotel, like at The Ritz-Carlton, South Beach, where 30 branded
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residences in a standalone 15-story tower on the sand are being added. The famed Morris Lapidus-designed beachfront hotel reopened in 2020 after a multiyear, $ 90-million renovation following damage from Hurricane Irma.
At the same time, Ritz- Carlton will soon open standalone residences atop South Station Tower in Boston, a 51-story glass spire rising behind the railroad station. Recent standalone luxury residences to open include Mandarin Oriental Residences Madrid, SLS Madrid Infantas and Banyan Tree Padilla Madrid Residences.“ We’ re seeing strong interest from buyers who appreciate the reliability and prestige that come with international hospitality brands,” said Richie Fernandez, in-house sales & marketing associate for Persepolis, the developer
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behind SLS Madrid Infantas and Banyan Tree Padilla Madrid Residences.
Oftentimes, it’ s the branded residential component that allows a luxury development to pencil out since, as Jacobsohn conceded, the financing environment“ remains challenging,” especially for newbuild luxury hotels and resorts,
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22 hotelsmag. com Sept / Oct 2025 |