Hotel residences are a growing phenomenon globally.
This one bedroom apartment in Cape Royale in Cape Town, Green Point, is on the market for R2.65 million and offers a concierge and all the amenities of a 5 Star Hotel - click here to view.‘Hotel residences’ refer to apartments/villas in existing hotels which can be purchased. They essentially allow owners to live in a hotel permanently and enjoy the same services as normal guests do (i.e. room service, dining, cleaning).
Originally a New York phenomenon, the hotel residence trend has started to catch on in other major cities and holiday hotspots around the world. Hotel residences are often difficult to identify such as ‘One Hyde Park’ in London - the apartments there are essentially hotel residences serviced by the Mandarin Oriental next door.
Hotel residences have become increasingly popular among the super-rich over the past decade for a number of reasons including:
- Appeal to those that travel a lot - facilities are maintained whether one is there or not.
- Access to services i.e. room service, cleaning.
- Access to facilities like a pool, spa, entertainment and dining, bar.
- Excellent security.
- Reception - having a proper reception has various advantages, especially when it comes to visitors and deliveries.
Unsurprisingly, hotel residences sell at a premium to normal apartments.
The top rated hotel residences in the world are listed below, as based on a recent New World Wealth survey which focused on the preferences of the super-rich.
| World: Top rated luxury hotel residences, 2015 | ||
| Rank | Hotel Residence | Location |
| 1 | St Regis Residences | New York |
| 2 | The Plaza Pied-a-terre | New York |
| 3 | Mandarin Oriental Residences (One Hyde Park) | London |
| 4 | Baccarat Hotel & Residences | New York |
| 5 | Four Seasons Private Residences | New York |
| 6 | Ritz Carlton Residences | New York |
| 7 | Residences at the MGM Grand | Las Vegas |
| 8 | Waldorf Astoria Residences | New York |
| 9 | Odeon Tower Residences | Monaco |
| 10 | The Residences at W Retreat Koh Samui | Koh Samui |
| Source: New World Wealth survey | ||
The St Regis, the Mandarin Oriental, the Four Seasons, the Conrad Hilton and the Ritz Carlton all have hotel residences in multiple cities/towns around the world.
Notable hotel residences currently under construction and for sale
- The Surf Club Four Seasons in Miami Florida.
- The Mandarin Oriental Residences in Bodrum, Turkey.
- The- Ritz Carlton Residences in Herzliya, Israel.
Hotel residences in Africa
Hotel residences are yet to catch on in Africa. There are couple in Cape Town, including the Cape Royale. Also the One & Only in Cape Town offered a few units for sale during construction although it would be a stretch to refer to that as a hotel residence.
However, with all the growth in this segment globally, one can expect the hotel residence phenomenon to catch on in Africa soon, especially in the likes of: Seychelles, Mauritius, Cape Town and even in the Kruger Park area. – Andrew Amoils
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