Banyan Tree Residences, Lijiang, China
Spa access, 24/7 room service and nannies are just some of the services offered by hotel residences in lifestyle packages aimed at eliminating day to day hassles and pampering residents, and hotel residences are fast becoming one of the most successful contemporary real estate trends. In Europe, America, the Middle East and Asia, the hotel residence formula combines luxury hotels and residential condos into a single development in which resident owners enjoy a luxury home, but also have access to previously ‘guest only’ amenities.
In the UK, Hyatt Hotels is cooperating with Knightsbridge for a royal living experience in which Hyatt personnel will walk dogs, offer laundry services and more. In Germany, the ‘The Residences’ at the Ritz-Carlton will soon be launched at Berlin’s Beisheim Center and will offer everything from a personal sous-chef, 24 hour room service, babysitting, shoeshine service, massages and physiotherapy. Meanwhile, Las Vegas’s newest Residences, built on the MGM Grand grounds, offer spa, restaurant, as well as a casino and Studio 54 night club as part of the resident parcel.
Banyan Tree Residences, Bintan, Indonesia
In Asia, Banyan Tree Holdings Ltd, a leading developer of luxury resorts has recently launched its brand of Banyan Tree Residences in Phuket and Bangkok, Thailand, Lipang, China and Bintan Indonesia, all of which offer a full spectrum of hotel amenities, including a butler, private chef service, villa dining and concierge.
The trend of adding residential units to hospitality projects is in some cases driven by economics, where the sales of condo units are used toward the construction costs for the hotel. However, the trend also driven by high-end consumers who are choosing hotel residences as an answer to hectic urban living and wish to supplement a luxury property with a first-rate lifestyle experiences.
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