External Article21 May 2014
Inside The Hotel Residences Boom
Over the past few years, we’ve seen more and more hotel residences pop up around the world—especially now that the economy is bouncing back from the 2007 recession. Properties are adding a residential facet in both large metropolises where condo living is the norm as in places like New York City as well as more spread out cities where suburbia is a way of life like in Atlanta. For Four Seasons, which has managed high-end residences since 1982, the residential aspect is associated with nearly 40 percent of the total hotel and resort portfolio—and that percentage is steadily rising each year with upcoming projects from Brazil to China.
In New York-type places, it makes sense that you would want to live in a building that takes care of you as if you were a hotel guest. What is really interesting, though, is the fact that many people are forgoing the house with a beautiful yard in the suburbs in favor of a fully serviced condo in a high-rise.
Read the full article at Forbes Media LLC.