In hotel homes news this week: new condo hotels planned for Seattle and Shenzhen, two condo hotel residences in NYC with record asking prices, plus new Ritz-Carlton properties in Miami Beach, Tianjin and Pearl Island.
This week’s news recap includes the introduction of Peninsula Hotels’ first residences (in Shanghai), a $40 million penthouse sale at Fairmont Pacific Rim Vancouver, a troubled auction for Trump Toronto, new project updates for the Cayman Islands, Sarasota, and Regina, Saskatchewan… plus, could Starbucks make the next great hotel brand?
This week’s news recap includes new openings from W in Switzerland and Fairmont in Saudi Arabia, new plans for a Ritz-Carlton in Kazakhstan, and a Helmut Jahn condo and hotel project in Lower Manhattan… plus updates from Las Vegas, the Maldives, Boston, and San Francisco!
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.
This week’s news recap includes new hotel-residential projects such as a W for Australia, a Kimpton for the Cayman Islands, a giant casino project for South Africa – plus, residents are moving in to the EMAAR Residences at the Clocktower in Makkah, Saudi Arabia, and Hurun has published a study about Chinese luxury travel preferences!
Perhaps New York City’s best-known hotel, The Plaza has long welcomed prominent guests from around the world, for both short and extended stays. Originally opened in 1907, the hotel was initially designed with a mix of rooms for overnight guests, as well as larger corner suites overlooking Central Park which were reserved by prominent families for extended, several-month periods, including the notorious children’s book character, Eloise. One hundred years and an extensive renovation later, The Plaza Hotel currently offers hotel rooms, private residential condominiums and hotel condominium suites for sale under the same roof.
According to Elizabeth Lorenzo, a Senior Vice President with luxury brokerage firm Stribling & Associates who specializes in selling both property types at The Plaza, many of the buyers are drawn to the property because of its “reputation in the global market,” and because it occupies one of the “world’s most recognized locations, and one of the best in New York City.”
The Savoy Hotel in London has been doing it since the beginning of the twentieth century, back when artists like Claude Monet painted the Thames River from their balconies: Artist-in-Residence programs, located right alongside bustling life at some of the finest, and busiest, hotels in the world. Not only do the artists feature their work in these hotels, but they often live and create under the same roof as the guests and staff. In some hotels, the artist-in-residence’s studio remains open to a curious public, giving them the opportunity to get a rare first-hand look at the creative process as it unfolds before their eyes.
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
Four Seasons Private Residences New York Downtown Gets Financing, To Open in 2016
Donald Trump Testifies in “Bait and Switch” Trial Relating to Trump International Hotel & Tower Chicago
9 out of 16 New Mandarin Oriental Hotels in Pipeline Include Residences
SOM Designing Singapore’s Tallest Tower, Complete with Luxury Hotel and Residences
Four Seasons Private Residences Miami Penthouse Sale Sets New Pricing Record Set for Brickell Area
$18 Million Listing Comes on the Market at the Plaza Hotel in New York
Club Med Considering Condo-Hotel Units at Bahamas Resort
London’s Booming Residential Market Spurring Large-Scale Projects
Rumored Ritz-Carlton Residences Miami Beach May Be Designed by Piero Lissoni
Montage Brand Expansion Discussed in Laguna Beach General Manager Interview
Qatar Increasing Fairmont-Raffles Stake
There is more than one way to skin a cat, but there are also hundreds – if not thousands – of ways for architects to design homes of specific sizes and styles. In this week’s “Layouts We Love” column, we take a look at four different 1200 square foot (111 square meter) homes in hotel-residential properties around the world.
At New York’s Plaza Hotel, overlooking Grand Army Plaza where Fifth Avenue meets Central Park, an oversized one-bedroom home measuring 1245 square feet (116 square meters) is currently on the market. This wing of the Plaza is available for primary or secondary home-ownership, and its renovation and restoration in 2007 created gracious residences while respecting the landmark building’s original windows and proportions. This 14th floor residence features a grand living room with a decorative fireplace mantel overlooking the treetops and city lights of Grand Army Plaza. This luxurious home features a separate kitchen, beautiful master bedroom suite with five-fixture bathroom and walk-in closet, as well as a powder room for guests. This residence is currently on the market for US$4.4 million, available through one of the building’s most successful agents, Elizabeth Lorenzo of Stribling & Associates.
Meanwhile in the Swiss Alps, the new Chedi hotel and residences in Andermatt combine modern Asian luxury with the area’s rugged chalet style. Measuring 118 square meters (1270 square feet), a third-floor residence offers a luxurious one-bedroom layout. Both its large living room and oversized bedroom open onto a long balcony, while its unique bathroom offers the option to fold back a wall to expose the wonderful mountain views while soaking in the bathtub. Denniston Architects have planned the interiors to maximize its open feeling, and sets of double doors, folding screens, and disappearing pocket doors optimize the flow between rooms, including the lavish dressing room with extensive closets – perfect for accommodating the ski season’s extra wardrobe changes.
Back in the USA, top Boston agent Tim Marsh of Marsh Properties, Inc. has recently sold a 1245-square foot (116 square meter) home at Four Seasons Place. The luxury building located on Boston Common was completed in 1985, and remains today as one of Beantown’s most desirable residential addresses. Located on the 11th floor with sunny southern exposure, its layout has a remarkable flow that maximizes its flexibility. Its living room has double doors opening both into a library that doubles as a guest room, as well as a kitchen that can be opened for casual living, or closed for formal entertaining. Its master suite features three closets, and an oversized bathroom that separates its large vanity and sink from a separate “wet room” with bathtub and toilet.
A world away in China’s 13th largest city of Chengdu, the new Residences at the Fairmont Chengdu form part of the Palm Springs development, combining high quality office space, luxury shopping, a new Fairmont hotel and luxury residences. Currently under construction and scheduled for completion in 2014, a 112 square meter (1206 square feet) residence is designed as an efficient apartment with up to three bedrooms. That may seem like a lot of rooms for 1200 square feet, but the living areas accommodate a generous living/dining room, entry foyer, separate kitchen and balcony. It’s three private rooms include a corner master bedroom suite with bathtub framed by an oversized window and separate stall shower, as well as a gracious dressing area. The second and third bedrooms can also be used as a study/library and media room.
Whether opulent grandeur in New York, luxurious flow in the Swiss Alps, flexible space in Boston, or efficient planning in Chengdu, there is a lot one can do in 1200 square feet. These four options represent some of our “best-in-class” favorites.