Red-hot Branded Residences
Accor, a world leading hospitality group featuring one of the industry’s most diverse and fully-integrated hospitality ecosystems, has established itself as a global leader within the red-hot branded residences sector. The group currently operates 35+ branded residences around the world and is actively developing another 80+ projects under 16 brands – from the upper echelon of the luxury market to premium and midscale brands, with an increasing number of highly compelling lifestyle offerings.
“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 home-ownership 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 recognised 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 programme, 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% 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 favourite 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 socialising, 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.”
Within the Southeast Asia region, Accor currently operates three branded residences, including Raffles Residences Jakarta (Indonesia), Raffles Residences Makati (Philippines), and Mövenpick Residences Cam Ranh (Vietnam), with a strong pipeline of seven committed projects. Three of which are slated to open within 2023. MGallery Residences MontAzure Lakeside will be Accor’s first branded residences project in Thailand. Pullman Residences Newton Singapore will allow residents to live in true Pullman style in the heart of the city. While SO/ Kuala Lumpur Hotel & Residences will become the first lifestyle branded residence in Asia.
Properties that have recently made headlines across the Accor and Ennismore branded residence portfolios include:
Branded Residences – Accor
- Raffles Boston Back Bay Hotel & Residences, opening in 2022, will make international and local history as the first mixed-use development in North America for the illustrious Raffles Hotels & Resorts brand, while writing a new story for Boston’s hospitality and real estate industries alike. Offering an unprecedented residential and hotel experience in the heart of the Back Bay, Raffles Boston features 146 branded residences, 147 guest rooms and 16 distinct gathering spaces.
- Fairmont Century Plaza Residences are part of a cultural landmark in the heart of Los Angeles, a contemporary icon with a star-studded history for hosting the rich and famous. Single-story and townhouse homes designed by Yabu Pushelberg reside within the grand hotel, which opened to much fanfare in September 2021, and feature Fairmont Concierge living and 24-hour valet and security. Lumière and Café Vignette keep residents nourished in California style, while The Bar at Century Plaza is a hotspot for the city’s tastemakers and trendsetters.
- MGallery Residences MontAzure Lakeside is Accor’s first branded residences project in Thailand. Residents can choose from 236 spacious studio or one-bedroom residences, with options to combine to create larger units. Planned to open in 2023, the property is within the landmark MontAzure development, which covers 72 hectares of mountain to beachfront land on Phuket’s sunset coast at Kamala Bay.
- Pullman Residences Newton, Singapore stands 30 stories high at one of the city’s most prestigious addresses offering stunning views of the city skyline and Bukit Timah Hill. Opening in 2023, residents will live in true Pullman style, with club lounge service ambassadors helping them have it all, from arranging dog walking to dry cleaning, housekeeping and catering, personal shopping, personal training, private transportation and so much more. A ‘While You Are Away’ maintenance package puts residents’ minds at ease while travelling.
Branded Residences – Ennismore
- SLS Dubai Hotel & Residences is one of Ennismore’s flagship properties and the tallest hotel & residency in the region, at 75 stories high. Featuring contemporary art, sleek accents, and exceptional fittings, SLS Dubai offers 254 expertly designed hotel rooms, 321 hotel apartments for extended stays and 371 prestigious residences. Residents and guests will feel on top of the world lounging at the two magnificent rooftop infinity pools, offering an incomparable 360-degree view of Dubai. The pools are among the highest not just in Dubai, but globally.
- SO/ Kuala Lumpur Hotel & Residences will be Ennismore’s first lifestyle branded residence in Asia upon its opening in 2023. The project’s 590 residences join 207 hotel rooms as part of a large-scale mixed-use development with an office tower, retail mall and two additional luxury hotels with residences. SO/ is rooted in the world of fashion, showcasing a vivid personality and avant-garde style. SO/ invites everyone to join the front row, attracting a stylish traveler looking for a designer destination.
- Mondrian Residences Gold Coast is part of Ennismore and the first Mondrian Residences project in Australia. Earlier in 2021, the residential offering broke sales records as all 84 residences were sold out within 6-months of their release during an intense period in which demand significantly outpaced available residences. The design-led apartments are part of a stunning new development alongside the luxury Mondrian Gold Coast hotel.
For more information on Accor’s impressive collection of branded residence offerings, click here.
Main image: MGallery Residences MontAzure Lakeside, Phuket.