Branded Residences, an elevated way of life
In this region, the offer of alternatives to have the experiences and amenities of a hotel at home is already a trend.
Today I want to talk to you about a topic that, although it is not new, is something that has been on the rise in Mexico in recent years, especially with the change imposed by the pandemic of staying at home. I am referring to “branded residences”, which, as the name implies, are luxury residential properties associated with a brand.
It is a concept that gives prospective buyers the opportunity to purchase their own permanent accommodation within a hotel or independent development.
I wanted to touch on the subject after the sale by One&Only Mandarina of a luxury residence was announced a few days ago, for nothing more and nothing less than 17.5 million dollars (around 350 million pesos), which gives us a idea of the offer of alternatives that exists in this region of the Mexican Pacific where chains such as Marriott International, Four Seasons, The St. Regis, Vidanta and more recently One&Only, have developed spectacular villas and condominiums.
On the other hand, it is a format that is not only beneficial for the buyer, but has become a kind of “salvation” for some hotel groups, affected in their income stream as a result of the pandemic.
The “branded residences” format is nothing new. Its origins go back to 1927 in Manhattan, New York, when the iconic Sherry-Netherland hotel opened its doors on the famous Fifth Avenue. However, it was not until the 1980s that it began to gain ground, with the opening of the Four Seasons in Boston in 1985. Since then, this unique style of luxury living has skyrocketed in popularity and can be found in approximately 60 countries around the world, according to data from consultancy Savills.
Currently, adds Savills, “the United States remains the largest market for this type of residences – with 32% of the units globally, which consists of a portfolio of around 55 thousand units in just over 400 complexes.”
The most interesting thing is that Mexico is among the three main markets outside the United States, along with the United Arab Emirates and Indonesia, and within the country, it is the Puerto Vallarta-Riviera Nayarit region where some of the most expensive and exclusive residences are located. .
amenities and more
However, beyond owning a property, true luxury comes with the level of integrated service that these properties offer, such as room service and spa, valet service, security, cleaning, cooking, and a host of other amenities. amazing amenities. And if we add to this what comes in the “package”, such as the beaches, the sun, the vegetation, the infrastructure at the airport access level, the proximity to the United States, etc., the attraction is even greater.
We are, therefore, before a concept that is here to stay, and that according to specialists, aims to double its inventory in the coming years, mainly in Mexico, with a demand supported by the US market.
Would you like to know more about the offer of “branded residences” in the region? Send me your comments.