There are distinct advantages to living near a cultural hot-spot, including a wealth of things to see, the possibility of great food right around the corner, and being part of an eclectic, creative vibe. Art museums located in major metropolitan centers bring exactly that type of vibe to the neighborhood in which they are located, and some hotel residences around the world have capitalized on their proximity to major art museums and installations, drawing in residents with a keen interest in being surrounded by culture and creativity. In many cases, the hotel residences themselves are works of art, making them even more attractive to potential occupants.
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!
The only online directory of hotel residences for sale, HotelHomes.com, celebrated its 100,000th visitor to the website in July. With recent traffic topping 20,000 visitors per month, the new website has grown significantly since launching in January. The property portal offers a complete global directory of hotel-branded residences and hotel-condominiums for sale, where prospective buyers can search by hotel brand, lifestyle and destination, and click through to developer websites, view specific homes for sale, and connect with specialist real estate brokers.
The wonders of the Moroccan city of Marrakech are well known to generations of travelers from Europe and the Middle East alike. The magical city’s opulent gardens, colorful markets and beautiful desert environment have long attracted the curious, the adventurous and the glamorous. Today, Marrakech is experiencing a construction boom, and becoming one of the world’s top destinations for buyers of luxury hotel residences. While the city’s incredible riads offer the ultimate in private luxury and La Mamounia is as fabulous as ever, these new developments are offering new luxury options in the “Red City.”
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.
Six months since launching, HotelHomes.com is now achieving 20,000 visits per month on its sophisticated luxury platform. The world’s first global database of hotel-branded residences and hotel condominiums now includes over 250 properties affiliated with 59 hotel brands in 42 countries around the world.
“In many of the world’s hotel markets, building a luxury hotel without residences is not financially attractive to developers,” explained HotelHomes.com founder Dan August Cordeiro. “Hotel management companies increasingly realize that lending their brand to luxury residences opens the door to expand their hotel management portfolio, and more and more of them are getting into the sector.”
And just what are potential buyers looking for? Read More
In Renaissance architecture, the loggia represents a covered outdoor room, often occupying a prominent location in a building’s architecture, where honored guests can enjoy fresh air while remaining protected from the elements. In modern skyscrapers, loggias are rare, but when found, they offer a prime venue for entertaining al fresco and extending the home into a true outdoor room – not to mention being an eye-catching architectural feature that inspires envy from pedestrians on the street below.
Currently under construction with completion anticipated in 2014, the new Baccarat Hotel & Residences New York incorporates a stunning double-height loggia, high atop the crystalline 50-story tower. The loggia is designed as part of the expansive duplex penthouse, which occupies the full 48th and 49th floors of Baccarat Hotel & Residences’ flagship location, located on 53rd Street just off Fifth Avenue, directly across from the Museum of Modern Art.
As part of our New York coverage this week, HotelHomes.com surveyed some of Manhattan’s top deal-makers and market commentators about the current environment in the luxury real estate sector – and where to get a good deal today on tomorrow’s hot property.
In 4 Words or Less, How Is the Market?
We are happy to kickoff our “New York Week” with a Q&A with industry leader Kelly Kennedy Mack, President of Corcoran Sunshine Marketing Group, discussing the global property buyer, champagne on ice, the new Baccarat Residences New York, and her St. Barth dream home!
In its fifth month since launching, luxury property website HotelHomes.com has topped 20,000 visitors per month, a 50% increase over April figures. Founder Dan August Cordeiro attributes this increase to expanded brand awareness and general interest in the topic of luxury property affiliated with the world’s largest hospitality companies. “This industry is itself a trend story,” he said. “The luxury property market is a global one. Thus, the world’s biggest brands add increasing relevance in attracting the attention of high net-worth individuals.”