In this week’s hotel homes news: a new listing at Ritz-Carlton Battery Park in New York hits the market, Jumeirah Group has big plans for growth, Timbers Resorts takeover Ritz-Carlton Club Bachelor Gulch and Bangkok’s Mahanakhon Development is making smooth progress.
At over 1,030 feet high with 77-stories, MahaNakhon will be Bangkok’s tallest building and an architectural landmark. Developed in partnership by PACE Development Corporation and Industrial Buildings Corporation and designed by The Office For Metropolitan Architecture, construction on the mixed-use building commenced first quarter 2011, with completion of the hotel and residences anticipated for fourth quarter 2015.
These week’s news recap includes a record-breaking sale at the Ritz Carlton Residences Bangkok, a new record asking price at the Residences at Mandarin Oriental Boston, a new CEO for Four Seasons, Laura Ashley’s new hotel brand, a buyout for Commune Hotels, and new projects for Cartagena, Columbia, Knoxville, Tennessee, and Cairns, Australia!
Hotel-branded residences – defined as for-sale apartments or villas bearing the brand of a major hotel chain and under its management and available for use at the option of the owner – have been rapidly multiplying across the globe as real estate developers and hotel operators see the value that the luxury residential components add to the development fundamentals.
Increasingly popular throughout the United States and Canada over the past two decades, these types of projects are now gaining momentum all around the world, with nearly 200 properties now operating. For the first time, the pipeline of hotel-branded residence projects under development is now greater in Asia-Pacific than any other world region.
CAD$25 million Penthouse at Fairmont Residences Pacific Rim Shatters Vancouver Price Records
Over half of Ritz Carlton Residences Bangkok Buyers Call the Middle East Home
Penthouse at the Residences at the W Tel Aviv-Jaffa Listed for $12.5 milion
Theory Founder Andrew Rosen Pays Over $3400/square foot for Condo at The Setai South Beach
Savills, Candy & Candy and Deutsche Bank Forecast 26% Rise in Super Luxury Property Sales in 2013
New York’s Twisted History in Hotel & Residential Zoning Laws
Raffles Opens Hotel, Residences in Makati, Manila
Numerous Celebrities Buying at the Residences at the Ritz-Carlton LA Live
Behind the Financing of the Residences at the Ritz-Carlton Bangkok
Developer of Trump Ocean Club Panama Files for Bankruptcy
Lawsuit over Revenue Sharing at Trump International Hotel & Tower Chicago Goes to Trial
Luxury food retailer Dean & Deluca to open at Ritz-Carlton Residences Waikiki Beach
Luxury Rental Available at the Residences at the Ritz-Carlton Atlanta Buckhead
Conrad and LeMeridien top List of Five Rapidly-Expanding Hotel Brands
International Survey Concludes that Safety and Security Is the Deciding Factor When Booking a Hotel
HGTV Creating Urban Oasis at Residences at the W Boston
Ritz-Carlton Residences Bangkok Target Middle Eastern Buyers
Emaar Unveils Sky Collection Homes at the Address Residence Fountain Views
Tour the $32 million Penthouse at the Trump International Hotel & Tower Chicago
Ritz-Carlton Residences Waikiki Beach Ready to Open For Sales
Viceroy Hotel Top Open in Cape Verde, with Hotel in 2017 and Residences in 2013
Johnson & Johnson Heiress Lists $4 million Condo at Trump International Hotel & Tower New York
New 210-unit Condo-Hotel Project Coming to St. Kitts
Hotel & Condo Project Approved for Ottawa’s Byward Market
“Making Progress” at Mandarin Oriental Residences in Saadiyat Island, Abu Dhabi
Bond Restructuring in the cards for Trump Ocean Club Panama
A Look at the Branded Residences Trend in Thailand
Resort Residences Spreading in Thailand
The Plaza’s $30k/night Suite Is Among New York’s Most Expensive
Le Meridien To Open in Atlanta
Four Seasons To Expand Presence in Saudi Arabia with New Hotels
The End of the Minibar?
Is “Overservice” a Problem?
Sofitel Planning Big Expansion in Americas
Aman to Open Resort with 51 Residences in Portugal
Penthouse Sales at Four Seasons Place Kuala Lumpur Expected to Set New Record
$16 million sale at Trump International Hotel & Tower New York
$6 million sale at the Residences at Mandarin Oriental Boston
Stoneleigh Dallas to Be Rebranded as Le Meridien
Class-Action Lawsuit Advances at Hard Rock Hotel & Condo San Diego
Hotel-Condo Projects Coming to Daytona Beach, Florida
Variety Reviews LA’s Hotel-Residential Projects
Residences at the St. Regis Amman are now 25% Sold
Bangkok’s Branded Residences Attracting Overseas Buyers
Mixed-Use Projects Becoming Popular in Emerging Markets
Meet The Sales Talent Behind The Chedi Andermatt (German)
Haute Living Reviews the Residences at the Ritz-Carlton LA Live
Model Residence at The Ritz-Carlton Residences Bangkok Revealed
We at HotelHomes.com were first dazzled when renderings of Bangkok’s tallest building first surfaced five years ago. Now that the 310-meter-high tower is under construction, we are completely in awe.
Designed by the Office for Metropolitan Architecture (OMA) partner Ole Sheeren, the so-called “MahaNakhon” development will soar 72 stories and include 194 Ritz-Carlton branded for-sale residences, a 150- room Edition Hotel and a 10,000-square meter luxury retail complex.
The architecture is most certainly futuristic, and in the words of architecture critic Jimmy Stamp, “the repetitive high-rise appears to be eaten away, as if it was attacked by some sort of architectural predator or modernist virus.” The result is a tower comprised of individually designed “sky box” homes, where living rooms cantilever out of the tower and offer 180-degree panoramic views. These skybox cantilevers also allow for setbacks that provide terraces to residences above, thereby extending the living space outdoors at staggering heights.
The homes do appear uniquely conceived, and the “pixilated” façade creates many unique floor plans. The variety of distinct residence types also include diverse features such as double-height living rooms, hot tubs, plunge pools and maids’ rooms, and range from two- to five-bedrooms.
While there is not a Ritz Carlton hotel on-property, owners will benefit from the legendary service the brand is known for. Staff will include a Director of Residences, full-service 24-hour concierge, 24-hour valet parking as well as doormen and porters. In addition, residents have access to in-home dining and housekeeping, a bar and restaurant at the top of the tower and the Edition Hotel downstairs.
Individual homes range from two-bedrooms in 120 square meters to five-bedrooms in 850 square meters (1290 to 9150 square feet). Projected pricing ranges from US $900,000 to over US $11,000,000 for the penthouse with occupancy expected in 2015.
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