Sandra Tan’s Post

Auckland CBD waterfront building primed for hotel conversion – priced at NZD$15 million One of the last remaining character buildings in Auckland’s Viaduct Harbour for sale by Bruce Whillans and Michael Pleciak of Whillans Realty Group Limited with concept plans to convert it into a heritage hotel. “As an existing building it offers a relatively low cost of entry and the ability to expedite delivery when compared to a new build hotel project. Alternatively, it could suit a backpackers or lifestyle budget accommodation. The property is ready for conversion with vacant possession achievable in a years’ time. “It is home to Auckland’s most popular bars and restaurants, and it is the regional headquarters for a number of major international companies - providing a rich source of corporate clientele. “It is also home to New Zealand’s first Park Hyatt Hotel and QT Auckland - one of the city’s best performing hotels. “More than $9 billion of public and private infrastructure projects are already underway or planned around the property, including the International Convention Centre and the redevelopment of the Downtown Car Park just one block away. Ignite Architects associate director Audrey de Filippis says the building presents an incredible opportunity for a visionary developer to create an exceptional destination property. Whillans says Auckland’s rapid hotel recovery and the growing global demand for authentic hospitality experiences will provide the backdrop for any conversion. Auckland recorded an 80.4% hotel occupancy rate in November 2023, up from 72.7% on the year before. There were 422,600 hotel guest nights in commercial accommodation for the month of November, on par with pre-Covid levels, he says. The ASEAN Developer RETalk Asia Brendan Keenan COMMO Tourism New Zealand Auckland Tourism, Events & Economic Development (ATEED) #auckland #aucklandnz #aucklandrealestate #hotel #hoteldevelopment #hotelindustry #hotelinvestment #hotelbusiness #hotelmanagement #nztourism #hotelnews

In the ever-evolving landscape of global #realestate and #hospitality, branded residences have emerged as the coveted choice for those seeking a seamless blend of comfort and privilege. It’s no surprise then that many of the world’s leading #hotel brands have branched out into real estate, coupling #property sales with their facilities and level of #service. Six Senses, Ritz-Carlton, W Hotels and Aman are just a few. But how would this concept work in a market where, from an owner’s perspective, short-term rentals are no longer allowed? Read the full article: https://lnkd.in/dVVpbVNC

Luxury hotel-branded residences cater to a particular class of individuals — those for whom luxury is not an occasional indulgence but a way of life. These are not just homes; they are lifestyles packaged with round-the-clock room service, state-of-the-art fitness centers, private pools, and spas, and, of course, access to some of the world’s best restaurants just an elevator ride away. In a world that’s increasingly transient, these residences offer a sense of permanence while still embracing the flexibility that modern life demands. In essence, these homes blur the lines between the traditional notions of “home” and “vacation,” creating a unique hybrid that caters to the desires of a new generation of affluent residents. Living in a luxury hotel residence is not just about the tangible amenities. It’s about being part of an exclusive community. Residents often have access to private clubs, exclusive events, and personalized services that go far beyond the usual concierge offerings. #Hospitality #branded #residences #exclusivity #exclusive #community #luxury #affluent #uhnw

The conversion of hotels to co-living spaces continues thanks to lower operational expenses, fewer staff, and potentially stronger margins when operated well compared to conventional residential real estate. Having recently represented a divestment in this sector to our friends at #DashLiving, its certainly outperforming some hotels in #HongKong for the foreseeable future. Is co-living the answer to our current real estate affordability issues? No. Co-living fills a certain gap in traditional real estate and resonates for a particular target segment. Those new to a city, requiring flexibility in contracts terms or perhaps in between assignments all find the allure of co-living appealing, but it's certainly not what the majority look for in a hotel or residence when considering the longer term. #coliving #realestate #hongkong #conversions #adaptivereuse

Imagine living in a space where a five-star hotel caters to your every whim, 24/7. 🛎️ This is exactly what you can expect with hotel-branded residences! With hassle-free living, top-notch concierge, and security—these residences redefine the on-the-go lifestyle in the best way. The branded residences sector has not just grown, but skyrocketed by 170%! And guess what? The pandemic turned up the heat, fueling an unprecedented demand for living spaces that are not just convenient but also loaded with top-tier amenities. So, would you jump on the branded residence bandwagon? 🤔 Let us know in the comments below! #multifamilymarketing #multifamily #digitalmarketing

Banyan Group to opens 19 new properties in 2024 Embarking on a Decade-Defining Journey: Banyan Tree Group Transforms into Banyan Group Celebrating an extraordinary three decades of curating unparalleled experiences in the realms of hotels, spas, residences, food, and retail, Banyan Tree Group is undergoing a captivating metamorphosis. The evolution from "Banyan Tree Group" to the sleek and dynamic "Banyan Group" symbolizes more than just a name change; it marks the Group's evolution into a vibrant, multi-brand hospitality powerhouse. Global Expansion Unleashed: A Pinnacle Year for Banyan Group Since 2019, the Group has unfurled its wings, doubling its brand portfolio and introducing groundbreaking destinations. From the enchanting Banyan Tree AlUla in Saudi Arabia to the cultural haven of Garrya in Kyoto and the vibrant Folio in Osaka, Japan – the Group's footprint has left an indelible mark on the global hospitality landscape. In 2023, the Group not only weathered the storm but soared to new heights, surpassing pre-pandemic levels with an unwavering commitment to excellence. A Glimpse into 2024: 19 New Openings Await The celebration of the 30th anniversary paves the way for an even more exhilarating future, with 19 new properties and residences slated to open in 2024 across Cambodia, China, Japan, South Korea, Vietnam, and Mexico. Highlights include the grand debut of Angsana Siem Reap in Cambodia, the first Banyan Tree property in Japan – Dhawa Yura Kyoto/ Garrya Nijyo Castel Kyoto / Banyan Tree Higashiyama Kyoto, and the introduction of new brands like Cassia Sokcho, Banyan Tree Hotels & Resorts and Homm Sokcho in South Korea. Record-Breaking Business Performance: 2023 in the Rearview Mirror As the curtains fell on 2023, Banyan Group achieved record-breaking business performance, showcasing resilience in the face of adversity. Hotels experienced a remarkable 44% increase in RevPAR in 9M2023 compared to the previous year and surpassed pre-pandemic levels by an impressive 27%. Residence sales soared to 90% of the full-year sales in 2022, marking a historic high. China's Strategic Rise and a Visionary Buyback Deal China emerged as a strategic driver for Banyan Group, witnessing a spectacular +49% increase in RevPAR in 9M2023 compared to the same period last year. The Group's operating footprint in China expanded from 16 properties in 2019 to 25 in 2023, with an additional 14 in the three-year pipeline. The recent buyback deal with China Vanke further cements Banyan Group's position as a key player, streamlining decision-making and enhancing operational efficiency in response to market dynamics. As Banyan Group steps into this transformative era, the future promises not just growth, but an exhilarating tapestry of diverse experiences, reaffirming its commitment to redefining luxury and hospitality on a global scale. Get ready to witness a new chapter in the legacy of Banyan Group – where every moment is an invitation to extraordinary.

As the number of redundant buildings within city centres increases, developers within the #hospitality and #leisure sector are looking at new opportunities by obtaining unique city centre space to create #boutiquehotels operating on a smaller and more intimate scale 🏨 While it may seem the expensive and complicated option, especially with the need to comply with fast-changing energy efficiency legislation, there are several financial incentives available to support sustainable development 💰 Aubrey Calderwood has detailed the green incentives available for investors and developers in the hospitality and leisure sector, including #capitalallowances, land remediation relief and #greenloans, in the below article for Boutique Hotel News 👇 #hotelsector #hotels

Why Renovating Hotels is CrucialEconomic Benefits Renovating hotels saves money by addressing wear and tear before they become costly repairs. Rising material costs make timely renovations more economical. Enhanced energy efficiency through updated systems reduces utility bills and operational costs. Renovation and conversion projects in the U.S. have increased by 54% year-over-year. Technical Benefits Regular renovations prevent technical failures like short circuits and leaks, ensuring guest safety and compliance with modern standards. Improved insulation and energy-efficient systems enhance building performance and guest satisfaction. Financial Benefits Renovations boost property value and allow for higher room rates. Updated amenities attract more guests, increasing occupancy rates and overall revenue. Renovated hotels typically experience a surge in demand, leading to higher profitability. Real Estate Benefits Renovations enhance a hotel's market appeal, making it more attractive to investors and lenders. Well-maintained properties stand out in a competitive market, ensuring sustainable growth and profitability. Thoughtful renovations can preserve a hotel's unique character while introducing modern comforts, increasing its market value.

UNSTOPABLE BOOM IN ULTRA-LUXURY HOTELS IN LONDON   RAFFLES Old War Office The OWO building has undergone a £1.4 billion renovation and opened as the luxury Raffles Hotels & Resorts OWO hotel. Room rates at the 120-room hotel starts at £1,100. Most of the Raffles OWO’s guests come from the US, followed by the UK, and then Saudi Arabia, France and Australia. A leader from the UAE stayed recently. Visitors can easily spend £800 on a meal in the restaurants.   PENINSULA HOTEL The new 5-star The Peninsula Hotels cost £1 billion to build (excluding the cost of the site) also opened in 2023, a short walk from Hyde Park on the edge of Belgravia. It is so expensive that bankers won’t even go there for breakfast. Rooms start from £1,300.   INTERNATIONAL LUXURY BRANDS Waldorf Astoria Hotels & Resorts, Rosewood Hotel Group, St. Regis Hotels & Resorts and Six Senses Hotels Resorts Spas all have hotels in the pipeline. Mandarin Oriental Hotel Group Oriental has two hotel projects in the pipeline. Claridge's is opening a sister hotel in April 2024. Lodging Econometrics: 11 Luxury hotel projects in the pipeline. London has more luxury hotels under construction than any other European city. They are getting more expensive - £1,000 per night is now the norm. CoStar UK: The cost of a typical room in a luxury hotel in London has risen by 111% since 2009.   London’s luxury hotel boom is driven by the world’s super rich. UBS: The number of so-called “ultra-high net worth” people with wealth of $50m (£39.5m) or more is forecast to hit 372,000 by 2027, almost ten times as many as there were in 2000. There are now more than 2,500 billionaires in the world who between them hold $12 trillion. The Dorchester is completing a renovation that will see room prices start from £1,200. The Lanesborough, which is next door to the new Peninsula but has been open since 1991, revenues surged by 12pc to hit a record high in 2023. A butler is assigned to every room at The Lanesborough.   The London glitz is in stark contrast to the wider UK economy, which has been hammered by the cost of living crisis and likely tipped into recession in the second half of the year. London is a good city for the super-rich, more at ease with wealthy people than other European capitals. To the world’s ultra-wealthy, London is merely another European capital to frolic in – hardly a part of Britain at all. #luxuryhotels #ultraluxury #hoteldevelopment #hotelinvestment #londonrealestate #londonhotels

“Resort areas in Southeast Asia have emerged as luxury housing hot spots, with leading developers pursuing large projects in places like the Thai island of Phuket that cater to wealthy people from China and Russia. At a construction site a 10-minute walk from luxury hotels on Bang Tao Beach in western Phuket, a banner says, ‘The place to be is now the place to live,’ the advertising slogan of luxury condominiums bearing the boutique hotel brand The Standard. This is where a property development unit of Thai conglomerate Central Group will build about 190 units at the cost of 5 billion baht ($139 million), the group’s first luxury residential project. Prices for the condos, to be completed at the end of 2026, will start around 12 million baht ($334,300). The Standard entered Thailand in 2021 when it opened a hotel in the beachside town of Hua Hin. It also plans to build luxury housing there, in this case partnering with property developer Sansiri.” “These branded residences offer hotel-like services and amenities suitable for long-term stays in resort areas. Similar projects include the Le Meridien brand’s residences in the Vietnamese resort of Danang that local developer IFF Holdings is building through a partnership with Marriott International. In Indonesia’s Bali region, Thai hotel giant Minor International offers residences under its Anantara luxury brand. Asia holds more than 20% of the global market for branded residences, U.K. real estate service provider Savills reports. The top location in Asia is Phuket, which is home to 22 projects including finished schemes. Phuket will transform into a community where people from around the globe gather, predicts Ho Kwon Ping, chairman and founder of luxury resort developer Banyan Group. The company is developing up to 6,000 condos and other residences in Phuket’s Laguna section, where it already has a resort, expecting to ring up total sales of $2 billion.” “In southern Phuket, 60% of real estate buyers were from China in the first quarter of 2023, followed by Russians at 25%. Purchases by Chinese and Russian buyers increased 70% compared with pre-pandemic levels, said a salesperson at SKN Real Estate in Phuket. Many of the buyers are in their 40s or 50s, with a monthly income at least equivalent to nearly 200,000 baht. Purchases by Russian investors soared after Moscow’s invasion of Ukraine as wealthy people sought to live elsewhere amid war. Southeast Asia’s warm climate already attracted Russians, and the fact that few countries in the region impose sanctions on Russia makes it easier for Russians to buy properties. Thailand is eager to lure affluent people. About 5,600 long-term residential visas were issued for wealthy applicants in 2022, a 160% jump over 2019. Bangkok also introduced a new long-term resident visa in September 2022 for highly skilled professionals, receiving around 4,800 applications in 12 months.”