Imagine living in a condo with everything at your fingertips: a full suite of amenities—from coworking spaces and wellness facilities to art studios and private screening rooms—all paired with luxury hotel services and wrapped in a stunning design. That’s the allure of today’s branded residences, and it’s no surprise demand is skyrocketing.

In a post-pandemic world, “people are looking for space, but also a lifestyle experience,” says Adelina Wong Ettelson, global head of residences marketing at Mandarin Oriental, which entered the market in 2003 with its New York residences and now operates 13 such properties worldwide. “Hotel brands are entering into this business because people are looking for more than just shelter. They’re looking at a home as a reflection of themselves. It’s about the comfort and exclusivity of having this private home with all the services—the ease of living at a 5-Star hotel.”

Indeed, over the past decade, branded residential projects have increased by more than 160 percent, according to a 2023 report by Savills, a global provider of real estate services. As of mid-2023, there were 690 completed projects, with an additional 600 slated for completion by 2030. […]

The branded residential market largely caters to those who want convenience. “They want their home to meet their every need, not only from a design perspective, but also in terms of service and amenities,” says Ramzi Achi, partner at Fort Partners, a development firm whose portfolio includes Four Seasons branded residences, with its newest locations in Miami and Telluride, Colorado. “Luxury living today is service.”

Those services span concierge, housekeeping, in-residence dining, transportation, valet, and more, but above all, “operational efficiency is a key draw—buyers enjoy a hands-off approach, with the brand managing daily operations and services,” says Pérez of the Related Group. The Miami-headquartered development firm has nearly a dozen branded residences open or in progress, including a handful in Florida, such as the Waldorf Astoria Residences, Pompano Beach; the Ritz-Carlton Residences, Tampa; and the St. Regis Residences, Miami.

Read the full article at: Why the Branded Residences Market Is Surging | Hospitality Design