BRANDED RESIDENCES ASIA’S ULTIMATE TROPHY PROPERTIES
The rising number of HNWIs is fuelling demand for globally recognised branded residences with all its accompanying prestige and bespoke services.
There are now 2,000 billionaires in the world, growing at 13% per annum, according to Forbes. Many of them have homes all over the world and typically stay in different countries in a year. Their choice of homes – global branded residences. This is why the number of such residences has increased tenfold over the past decade.
These are homes in prime locations that offer bespoke luxury services and prestige associated with an established brand. Branded residences started about 100 years ago in New York but only became a trend in the mid-1980s beginning with Four Seasons followed by Ritz-Carlton.
When it became a success, other hotel brands came in such as Starwood, Fairmont, Kempinski, Aman, St. Regis, Hyatt Regency, Six Senses, Banyan Tree, W Hotels, Viceroy and Mandarin Oriental.
However, it is in Southeast Asia and the Far East that resort branded residences have reached a matured phase and become the ultimate in luxurious accommodation.
In Southeast Asia, Thailand leads the way with Amanpuri Phuket in 1988 followed by The Four Seasons Chiang Mai in 1995. Thailand still leads today with the biggest number of such residences in the entire SEA region.
According to Bill Barnett, Managing Director at C9 Hotelworks, large luxury hotel brands like Ritz-Carlton and Four Seasons are seeing a high proportion of their hotel pipeline being generated in mixed use or project with branded residences; they tend to favour gateway cities and key well-known leisure destinations with strong airlift.
“Japan has been active in top end projects like the Four Seasons Kyoto or Park Hyatt Hanazono near Niseko.
Overall, the urban push is strong, interestingly two key Asian resort brands, Aman and Six Senses, have city branded residences coming up in New York City.”