06 Nov Trends in Luxury Hotel Residences
Here at United Landmark Associates,we have been a proven leader in the real estate marketing industry for the past 35 years. Our team’s experience and success puts the agency in a unique position to predict future real estate opportunities and guide innovative real estate marketing strategies.
Recently, we have observed an increase in interest surrounding luxury hotel residences. The attraction to hotel residence is that residents are able to enjoy living in some of the most glamorous buildings in high demand locations all around the world. In the era of working from home and restricted travel, more prospective buyers are looking at the hotel condomarket than ever before. United Landmark Associates has already played a kery role in this trend, supporting renowned clients such as The Residences at the Tampa EDITIONand The Ritz-Carlton Residencesin Sarasota,Vail and Coconut Grove.
What is a Hotel Residence?
At a hotel residence, residents are able to experience the benefits of condominium living, while still being able to indulge in all the amenities that a hotel has to offer. Residents are able to live independently in their own space while still indulging in luxurious amenities such as world-renowned chefs, top of the line fitness centers, and refreshing spa services. Residents are also able to access high-end hotel services that are typically unique to guests, including room service, housekeeping services, and 24-hour concierge service.
Hotel Residence as Secondary or Vacation Homes
Many prospective buyers in the luxury hotel residence marketare seeking a secondary residence or a vacation home. Residents of these hotel condominiumstypically choose destinations that they will consistently want to return to or spend the “season” in, whether that’s sunny Tampa, Florida or chic West Hollywood, California.
Peace of mind is a major selling point for hotel residences! Branded properties such as Montage, Ritz-Carlton or EDITION maintain the homes and ensure they are secured for seasonal residents, allowing them to enjoy a carefree “lock and leave” lifestyle.
Luxury Hotel Residences Appeal to Buyers
The reason we are seeing such an increase in sales and traffic within the hotel residence market is tied to this year’s pandemic. During quarantine, people were asked to limit their movements or stay at home altogether. In luxury hotel residences, buyers had everything they might need on the doorstep and a property management team on site to manage inbound traffic, help coordinate deliveries, and so on.
Another reason that we are seeing an increase in hotel residence sales due to COVID-19 is because of ongoing domestic and international travel restrictions. When investing in or buying a hotel residence, many buyers are able to experience a vacation or “staycation” every day without the risk that could be associated with travel during a crisis like COVID-19. Even if they do have to travel to access their luxury hotel condominium, they can always be assured of arriving at a safe, clean location and well-maintained space.
Building Luxury Real Estate MarketingCampaigns
Our award-winning, integrated sales and marketing plans and customized marketing solutions have fostered success for renowned hotel condominium clients including The Ritz-Carlton Residences and EDITION. Contact us at 813-870-9519 or fill out our contact formto learn how ULA can help you market a new luxury hotel residence.