Hotel-Branded Residences Are On The Rise With Their Offers of ‘Hassle-Free Living’
Hotel guests often can enjoy the luxuries of home — as well as quite a few that they do not have in their own residences. Those who can afford it can choose to never leave those luxuries behind, as more luxury hotels are offering private residences, Forbes reports. These residences are usually located in the private section of a hotel and enable owners to live there with access to the property’s amenities.
Over the last few decades, Forbes says, the trend of hotel-branded residences has grown with approximately 400 branded residences around the world. In addition to such hotel brands as Aman, One&Only, Four Seasons, Mandarin Oriental and The Ritz-Carlton, other luxury brands have started offering them as well, such as Versace, Fendi and Porsche.
Miltos Kambourides, the founder and managing partner of resort investor and developer Dolphin Capital Partners, explained that the branded residences offer “hassle-free living,” which is attractive in the hustle and bustle of today. Owners also have the ability to rent out their residences when they are not using them, “thus covering your maintenance/service expenses, plus earning a return through rental income,” he told Forbes.
“The resort takes care of your house, of the maintenance, the staff and basically runs it like a hotel,” he continued. “In these times, resort villas offer a safe product both in terms of investment and health. As such, we have seen a significant increase in demand this year.”
But the lifestyle component also can be key in buyers’ decisions, Savvas Savvaidis told Forbes. Savvaidis is the president and CEO of Greece Sotheby’s International, which offers branded residences at Amanzoe. Not only do buyers put a premium on the status connected to such an address, but also other elements such as the assurance of quality, which comes from a brand like Aman. “They trust the brand … [they] are true and loyal followers of Aman hotels worldwide,” he said.