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Why the Lifestyle Sector is Seeing Growth in Branded Residential
Posted on November 12, 2021
That marketplace has been exploding for more than a decade, as hotel companies have sought to expand their footprints by developing new products, originally dubbed as “millennial brands,”
For more than 20 years, branded residential projects have mainly fallen within the purview of traditional luxury hospitality brands like Ritz-Carlton, Four Seasons and Rosewood. But during the past five years, some new names have entered the branded residence scene, evolving out of the ever-expanding hotel lifestyle marketplace.
That marketplace has been exploding for more than a decade, as hotel companies have sought to expand their footprints by developing new products, originally dubbed as “millennial brands,” serving up cool, innovative lifestyle experiences. Although such hotel brands have moved beyond serving solely millennials, that generation is certainly the sweet spot in terms of buyers for a new wave of lifestyle branded residential developments.
As a result, growing percentages of branded residential pipelines are landing in the lifestyle land. The hotel industry’s largest players in the sector, Marriott and Accor, report exponential year-over-year growth in recent years. EDITION, W and Autograph Collection branded residential schemes make up 24 percent of Marriott’s current pipeline, and brands falling under the Ennismore lifestyle platform make up one-fourth of Accor’s branded residence projects currently under development.
