“Accor’s activity in the hotel-branded residences sector is a perfect example of the Group’s entrepreneurialism, innovation and powerful drive to lead the industry in any venture in which it gets involved,” said Jeff Tisdall, SVP of Development, Residential and Extended Stay, Accor. “Accor brands like Raffles and Fairmont have been pivotal in the evolution of branded residences for nearly two decades. Thanks to these trailblazing frontrunners, we’ve been able to apply the expertise we’ve acquired by introducing private residences to a number of our brands in recent years. Accor now offers the industry’s most comprehensive portfolio of branded residences, introducing inspiring new visions for homeownership across a wide spectrum of consumer segments.”
Accor’s diverse portfolio of branded residences features privately owned apartments, villas and chalets which are developed, designed, and serviced to the standards of one of its globally recognized brands. Most of Accor’s branded residences are co-located with an Accor-managed hotel, although standalone residential projects are on the rise as well. Branded residences combine exclusivity and the comfort of luxury living, with a comprehensive array of on-demand hotel services. In resort locations, purchasers of branded residences may have the option to participate in a managed rental program, enabling them to generate rental income when not enjoying their home personally.
According to 2021 data from Savills International Development Consultancy, the branded residences sector looks set to maintain its resilience and continue its extraordinary run of growth. The last decade has seen the number of branded residences increase by 230%, adding more than 50,000 units across 356 schemes. Meanwhile, Knight Frank’s Global Buyer Survey 2021 revealed that 39 per cent of residential real estate buyers would be willing to pay a premium for a hotel branded property, citing services and amenities as the top motivation.
“It’s an exciting time as we are seeing an increasing preference among developers and hotel owners for projects that combine a hotel with a private residence component. Consumers are eager to invest in real estate that will be managed by a trusted hotel brand with the knowledge they’ll also have access to an atmosphere and experiences that are near to their heart,” said Agnès Roquefort, Chief Development Officer, Accor. “A key focus of Accor’s development strategy is to accelerate the expansion of our branded residential portfolio, with the right projects in the right markets.”
One of Accor’s most anticipated flagship properties is Raffles London at The OWO and The OWO Residences by Raffles, which will open as a new icon of global hospitality and luxury living. With no two homes alike, eighty-five exclusive residences are being developed within the historic Grade II* listed former Old War Office building in London – a magnificent landmark located between the palaces of British royalty and the halls of British government. Closed to the public for over a century, The OWO has undergone a dramatic transformation over the last five years in order to create the capital’s first Raffles hotel with 120-rooms and suites, a collection of 11 outstanding restaurants and bars, and an immersive spa.
“At The OWO Residences by Raffles, homeowners will have the privilege of living within a rare location, benefitting from a world-renowned hotel on their doorstep, while enjoying the serene privacy of being at home,” said Stephen Alden, CEO Raffles & Orient Express. “Our goal is to elevate the residential experience. Whether it’s a private dinner by a favorite chef; a bespoke art consultation; or a sudden whim for martinis at midnight – our Raffles Butlers and dedicated concierge team will provide residents with all the legendary warmth and intuitive service that generations of Raffles guests have come to know, love and count on.”
In addition to its global leadership in branded residences and luxury hospitality, Accor has established a dominant position in the lifestyle hospitality sector through its joint venture with Ennismore. With more than a dozen lifestyle brands now in its collection, Ennismore currently has seven lifestyle branded residential projects open and operating with another 17 under development, including projects under leading brands such as Mondrian and SLS.
“We are particularly excited by the growth opportunities where private residences and our lifestyle brands intersect,” said Gaurav Bhushan, Co-CEO, Ennismore. “By definition, a lifestyle brand offers a holistic style, culture and values that permeate the entire guest experience from sleeping to socializing, which is what makes residences at brands such as SLS, SO/ and Mondrian so compelling as places where guests want to live, work and play.”
First published at TravelCommunication.net
First published at TravelNewsHub.com – Global Travel News