WHY BRANDED SCHEMES ARE PERFECTLY PLACED TO THRIVE AFTER THE PANDEMIC
Before 2020, no one but Hollywood scriptwriters and apocalyptic novelists could ever have imagined a moment in which hotels, restaurants and bars all over the world would simultaneously shut their doors – with no idea of when they would reopen.
Yet it happened – and for those who live, or are considering buying, in a branded residences development serviced by a hotel, it raises an obvious cause for concern. How will the building function if the hotel isn’t open for business?
In some mixed-use projects of this type during the pandemic, the hotel component had to stop operating for a while during lockdown, confirms Jeff Tisdall, SVP of Development, Residential & Extended Stay at Accor, “but the private residences continued to operate, supported by their dedicated teams,” he says.
The ability for such teams to go “off script and really deliver what the moment requires”, he adds, “is what sets a luxury brand apart.” At Raffles Residences in Manila, the in-house teams delivered care packages to residents when a stringent stay-at-home policy was in force. The opening of The OWO, meanwhile, is perfectly timed for owners to enjoy the very best that London has to offer. “The eleven restaurants and bars on site can deliver direct to residents’ doors” says Charlie Walsh, The OWO’s Head of Sales.
For buyers in such super-prime branded schemes, the “human factor” is a crucial element in making them feel comfortable, says Clement Kwok, CEO at The Hongkong and Shanghai Hotels. “Our staff are very loyal and our hotels have a very low turnover, which is important in this residential arena,” he comments. “Buyers who come in once a year want to be acknowledged and recognised, and the team need to be trained to feel empowered, so they can surprise guests.”
Finchatton’s Twenty Grosvenor Square in Mayfair is a first for the Four Seasons brand as it services the residences without having a physical hotel on site.
The Peninsula, London
“Whilst some buyers may prefer the appeal of a wholly-integrated hotel offering, for others the privacy and security provided by a standalone residence is paramount. With a seasoned brand like Four Seasons, owners know that they’ll have access to hotel-style services delivered with the same service standards,” says Jenny Naylor, a brand consultant whose projects include Four Seasons Residences at Twenty Grosvenor Square and The OWO.
Other schemes offer the reassurance of highly-personalised residents-only services by creating their own brand, such as Saint Amand at No 1 Grosvenor Square. Some buyers may feel that lacks the brand familiarity that is crucial to their purchase in such a scheme. But it does allow the brand to be flexible in its offering of amenities and services, based on residents’ changing needs and lifestyles. That is particularly important after a year or more of pandemic that has fundamentally changed how we live, work and socialise.
In many ways, branded residences are ideally placed to thrive in a post-Covid world. Wealthy individuals who, pre-pandemic, would routinely take a hotel suite in London for a few months a year now feel less inclined to do that. Instead, they can have the five-star service but the more Covid-safe environment of their own residence in a branded development.
“What will set residences such as The Peninsula Residences London, The OWO and Park Hyatt apart from other branded residences in London is the physical integration of hotel lifestyle and services under one roof,” says Sarah Curtis, co-head of London residential development and investment at Strutt & Parker.
“For future residents looking to achieve the dream of living in a hotel, but with the added luxury of the privacy and independence that owning their residence affords, this is only truly possible when the two are seamlessly combined. The residences and the hotel are as one.
"They cannot be physically separated. And as such, the service and ethos of the brand that they are buying into will be integral in their property purchase.”
Branded residences have also had an advantage while global travel has been restricted during the pandemic, as many luxury property sales can take place virtually. With an off-plan purchase, buyers would have little more than the 3D virtual walkthrough to go on. But with a scheme headed by a world-famous brand, they have the reassurance of the reputation, style and level of quality that the brand is known for.
The ability to book private spaces in such residential schemes in Covid times is also a boon for buyers, whether it’s a dining room, a conference facility or spa treatment rooms. All can be done by app, or via the concierge, which minimises human contact and maintains privacy. And the flexible working revolution means business meeting rooms or more informal shared working spaces will become essential facilities in any high-end development.
Flexibility is a new buzzword in super- prime design, with owners wanting the ability to open up or enclose spaces within spaces, using screens or retractable walls. For some, such residences will accommodate multi-generations of family – and flexible design allows for sociability as well as enabling everyone to have their privacy.
Technology is also key to Covid- proof design – and hotels are leading the way with contactless tech such as touch-free lifts and doors. Concerns over air quality are high among buyers’ concerns, too, and sophisticated air-filtering systems are an expected feature in high-end properties, along with anti-microbial surfaces in kitchens. Some are requesting design add-ons such as self-sanitising wardrobes or sterile ante-chambers in the entrance hall before they enter the living space.
Park Hyatt, London
New flexible working practices during Covid are also influencing where prospective buyers will consider living. With more people looking at returning to offices two or three days a week for the foreseeable future, proximity to the City or Canary Wharf is no longer necessarily the priority in London – and instead, buyers are prizing good design and quality of amenities over location.
New areas of London are emerging as hubs with their own branded anchors, such as Nine Elms in Battersea – where Park Hyatt Residences, the hotel’s first European residences, is due to open in 2022, close to the American Embassy and Apple’s new HQ at Battersea Power Station.