Asia-Pacific Region Now Dominates Hotel-Residence Pipeline

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.

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Changes to Delhi Zoning Will Lead to More Hotel Residence Options

Upcoming changes to local laws in the Indian city of Delhi are likely to lead to rapid development of hotel-residential projects, in addition to the conversion of some existing hotel rooms into luxury branded residences.

According to a report in The Economic Times, the government of Delhi, India, is planning to revise zoning laws to allow new and existing hotels to offer up to 20% of the building area as for-sale apartments. This will likely create a mini-boom in hotel redevelopment in parts of the city, as new hotel-residential developments become more viable and existing hotels expand or repurpose to increase profitability.

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HotelHomes.com Weekly News Recap for July 3, 2013

This week’s news recap includes top hotel residences in New York and Boston, 38 buyer lawsuits at Trump Toronto, hotel sales at the Four Seasons Bengaluru and the Ritz-Carlton San Francisco, a twin in the works for the Ritz-Carlton Waikiki Beach, and a five-star “cave hotel” in China!

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HotelHomes.com Weekly News Recap for June 16, 2013

This week’s news recap includes: Nick Candy’s $59 million penthouse at The Plaza, new developments for Santa Monica, Virginia Beach, Bangalore, Chicago and Lanai, buyer insights at the Mandarin Oriental Residences in Bodrum, and the world’s first luxury index of hotel brands!

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HotelHomes.com Weekly News Recap from May 24, 2013

TV’s Judge Judy Buys $10.7 million condo at Montage Residences Beverly Hills
http://realestalker.blogspot.ch/2013/05/judy-judy-buys-in-beverly-hills.html

$90 million Penthouse Buyer at One57 Revealed as Hedge Fund Investor
http://blogs.wsj.com/moneybeat/2013/05/16/ackman-leads-group-paying-record-price-for-manhattan-penthouse/

One & Only Hotel Planned for Jeddah, Saudi Arabia with Residences
http://www.hotelsmag.com/Industry/News/Details/42115

Atlantic Associates Real Estate Close on $5.2 million sale at the Residences at the Ritz-Carlton Towers Boston
http://boston.curbed.com/archives/2013/05/one-last-pricechop-then-big-trade-at-ritzcarlton.php

Du Parc Kempinski Private Residences Nearing Completion on the Swiss Riviera
http://theluxurychannel.com/magazine/couture-developments-swiss-through-and-through/

Hotel & Condo Project Coming to Saskatchewan, Canada
http://www.leaderpost.com/business/Capital+Pointe+project+being+relaunched+with+interactive+timeline/8417062/story.html

Trump Planning Golf Resort in Israel
http://www.algemeiner.com/2013/05/17/donald-trump-plans-world-class-golf-course-in-israel/

Rising Prices in New York and Miami, featuring One57, Sherry Netherland, The Pierre and the Residences at the Miami Beach Edition
http://www.nytimes.com/2013/05/26/realestate/the-year-of-audacious-real-estate-pricing.html?_r=1&

$40 million Combination Penthouse Proposed at the Residences at W New York Downtown
http://www.sacbee.com/2013/05/21/5436646/40-million-duplex-mega-penthouse.html

Dallas Symphony Orchestra Maestro Selling Residence at the Ritz-Carlton Dallas
http://frontburner.dmagazine.com/2013/05/16/why-is-jaap-selling-his-swanky-ritz-carlton-digs/

Neighbors Excited about new Hard Rock Hotel & Condo in Daytona Beach, Florida
http://www.news-journalonline.com/article/20130520/NEWS/305209980/1040?Title=Hard-Rock-project-leaders-tell-Daytona-residents-about-beachside-hotel-plan

Mixed-Use Bellevue, Washington Complex to Get $1.2 billion hotel, residential expansion
http://seattle.curbed.com/archives/2013/05/kemper-development-adding-12b-expansion-to-bellevue-collection.php

New Generation of Skyscrapers Under Construction in New York
http://www.nytimes.com/2013/05/19/nyregion/boom-in-luxury-towers-is-warping-new-york-real-estate-market.html?hp

Hotel Zoning Laws Deem Airbnb Illegal in New York City
http://realestate.aol.com/blog/on/airbnb-ruled-illegal-in-new-york-city?ncid=edlinkusreal00000001&ts=1369368564

Pattaya, Thailand-based Tulip Shifting Focus From Residences Back to Hotels
http://www.etravelblackboardasia.com/article/91296/tulip-group-to-focus-only-on-hotel-development

Gansevoort Hotels President Talks Expansion, Success in Turks & Caicos
http://www.travelweekly.com/Travel-News/Hotel-News/In-no-rush-to-expand-Gansevoort-learns-from-Miami-misstep/

St. Regis Deer Valley Gets Refinanced
http://www.marketwatch.com/story/sonnenblick-eichner-company-arranges-59500000-of-financing-for-the-st-regis-deer-valley-deer-valley-utah-2013-05-21

A Bright Outlook for the Luxury Market
http://ehotelier.com/hospitality-news/item.php?id=D25598_0_11_0_M

New Mumbai Complex Considering Residential Branding
http://economictimes.indiatimes.com/markets/real-estate/news/sunteck-evaluates-branded-residences-for-a-bkc-project/articleshow/20135251.cms

New York’s Park Lane Hotel For Sale, Could Be Redeveloped into Condo
http://commercialobserver.com/2013/05/helmsley-estate-to-sell-park-lane-hotel/

HotelHomes.com Weekly News Recap from April 11, 2013

$7 million Sale of Mandarin Oriental Boston Penthouse
http://boston.curbed.com/archives/2013/04/mandarin-oriental-ph-gets-in-on-bostons-megadeal-bonanza.php

$8 million Sale at Residences at the St. Regis Atlanta
http://atlanta.curbed.com/tags/st-regis-residence

Baseball star buys at the Residences at the Ritz-Carlton LA Live
http://www.latimes.com/classified/realestate/la-fi-hotprop-hyun-jin-ryu-20130405,0,1845388.story

Fairmont to Open Hotel & Residences in Istanbul in 2016
http://www.hoteldesigns.co.uk/industrynews/news_11645.html

Meritus to Manage and Brand New “Fun-tasy Island” Development in Riau Islands, Indonesia
http://ttgasia.com/article.php?article_id=20764

Raffles Residences Makati Popular with Chinese Investors
http://www.scmp.com/property/international/article/1210911/chinese-investors-eyeing-philippines

16 Branded Residence Projects Launched in Philippines since 2008
http://businessmirror.com.ph/index.php/business/companies/11675-branded-residence-projects-on-the-rise-in-phl-cbre-says

The Leela has plans to add four new hotels and 2 branded residences by 2017
http://www.business-standard.com/article/companies/leela-hotels-unveils-new-brand-identity-logo-113040500223_1.html

A Visit to City Center Las Vegas’ Aria
http://www.hotelsmag.com/Industry/Blogs/Details/40825

W Hotel & Residences Opens in Guangzhou, China
http://www.hotelsmag.com/Industry/News/Details/41132

Ottawa Approves New Hotel & Condo Complex
http://www.ottawacitizen.com/news/Hotel+condos+approved+Market+neighbours+promise+appeal/8221570/story.html

Branded Residences Becoming Popular in India
http://www.business-standard.com/article/economy-policy/builders-hard-sell-ultra-luxe-branded-homes-in-slowdown-113040900535_1.html

Monaco’s Odeon Tower Penthouse Expected to Offer World’s Most Expensive Apartment
http://curbed.com/archives/2013/04/04/worlds-priciest-penthouse-may-hit-the-market-for-250m.php

Ian Schrager May Be Working on New Waterfront Project in New York
http://www.nypost.com/p/news/business/realestate/commercial/schrager_eyes_west_st_NYJWCuiZxuA2VsAayEaXjL

IHG Plans new “Even” hotel brand
http://www.mediapost.com/publications/article/197078/ihg-prepares-for-new-brand-launch.html#axzz2PqxM9ZWz

Marriott & Ian Schrager’s Edition Brand to Debut in India
http://www.traveldailymedia.com/150817/marriott-to-introduce-edition-boutique-hotels

HotelHomes.com Weekly News Recap for March 1, 2013

Amari Residences Phuket Launches For Sales
http://phuketnews.phuketindex.com/business/phuket-property-offers-unique-investment-prospect-195537.html

New Grand Hyatt Residences Announced in Guragon, India
http://www.hindustantimes.com/India-news/Gurgaon/Luxurious-hotel-branded-houses-coming-soon/Article1-1016539.aspx

New Trump Tower Vancouver Rumored With 290 Condos
http://www.hotelchatter.com/story/2013/2/25/896/74539/hotels/Rumors_Swirl_About_Trump_Tower_Vancouver_Possibility_

Related’s Brickell Condo May Carry SLS Flag
http://www.miamiherald.com/2013/02/19/3242942/hip-sls-hotel-brand-downtown-miami.html

Trump Chicago Earns 5-Star Awards for Both Hotel & Restaurant
http://www.forbes.com/sites/forbestravelguide/2013/02/26/trump-chicago-rises-to-five-star/

New Mixed-Use Project May Be In Store for Downtown LA’s May Co. Building
http://la.curbed.com/archives/2013/02/redevelopment_rumored_at_downtowns_huge_may_co_building.php

New Mixed-Use Project Planned for Montgomery County, Virginia
http://dc.curbed.com/archives/2013/02/ten-crucial-things-to-know-about-the-massive-pike-rose-development-in.php

Starwood Capital’s Brooklyn Project to Be Built With Non-Union Labor
http://www.nydailynews.com/new-york/brooklyn/pols-labor-officials-furious-non-union-workers-brooklyn-bridge-park-project-article-1.1269224

New SimCity Game Does Not Allow for Mixed-Use Developments
http://urbanland.uli.org/Articles/2013/Feb/RazziSimCity

Discussing Expansion Plans for Hard Rock Hotels http://www.hotelnewsnow.com/Articles.aspx?ArticleId=9822&par1=x5u2bQW8HVu5JJcxjYZ+sw==&par2=p6Ft92q15h3xb2WiDP2I1vM6x8WSYNoQ6gR6E2OTBpoTdOv01lWQCU0AuJPXUdTzsxHu1HZH6mRFtOzHHw8VMg==

Virgin Hotels’ Portfolio Taking Shape
http://www.hotelnewsnow.com/Articles.aspx?ArticleId=9872&par1=x5u2bQW8HVu5JJcxjYZ+sw==&par2=p6Ft92q15h3xb2WiDP2I1vM6x8WSYNoQ6gR6E2OTBpoTdOv01lWQCU0AuJPXUdTzsxHu1HZH6mRFtOzHHw8VMg==

Garden City to welcome India’s first Four Seasons Private Residences

In keeping with Bengaluru’s status as India’s “garden city”, a butterfly garden will welcome residents of the new Four Seasons Private Residences Bengaluru. The first Indian city to host a major branded residential product, Bengaluru is quickly becoming India’s most developed city and a prominent global technology center.

The butterfly garden occupies only a fraction of the extensive, 6.5-acre landscaped compound that makes up the Four Seasons. The Four Seasons Hotel & Residences is part of the larger Cityview development, including three towers within in the heart of Bengaluru. While the South Tower will house the 230-room hotel with a limited number of one- and two-bedrooms on the upper floors, the North Tower will be dedicated to larger three and four-bedroom residences. In total the property will include 110 residences within two 30-story towers designed by Studio u+a and interior design by Yabu Pushelberg. A 14-story corporate office tower and 60,000 SF retail building complete the development.

And just what does this “dream team” have in store? Well, the concept is along the lines of “hidden luxury.” Set amongst the property’s garden grounds will include swimming pools for the hotel and the residences, vertical garden walls, a hot tub pavilion, decking areas, a meandering pond, a hedge maze and multiple lawns.  Residents will also have exclusive access to a media room, wine chamber, business center, and club room.

The residences themselves are very generously sized, starting from 1900-square-foot one-bedroom apartments and prices starting at Rs.4.1 CR (US $748k).  The latest projections are for the hotel and residences to open in 2014. By the sound of it, we can’t wait!