Branded residences, in their modern capacity, have been around since The Four Seasons Boston opened in 1985. They are defined as high-end developments, associated in some way with a luxury brand that provides additional levels of service and management. The brand is usually a hotel, but car, fashion and other luxury goods labels are increasingly entering the market.
Residences are purchased rather than rented, but owners then make use of the development’s on-demand services, including restaurants, room service, spa facilities and golf courses, for an additional fee. They can also use the housekeeping and concierge services, so everything is ready and runs smoothly while they are staying at their residence.
“Branded residences provide the opportunity to access high-quality services, amenities and design credentials typically associated with luxury brands,” says Charles Leigh, sales director of The Whiteley. “The association with a reputable name provides buyers with assurance in their investment.”
Brands that have entered this space include The Four Seasons, Six Senses, Rosewood and Ritz-Carlton hotel groups; Ferrari (RACE) and Bentley in the luxury car industry and fashion labels Fendi, Armani and Bulgari.
“There are more than 220 brands active to varying degrees within the sector,” says Rico Picenoni, Savills head of global residential development consultancy. “The brands are predominantly hospitality brands, but also include automotive, food and beverage, design, fashion and other industries.
“Brands possess an emotional appeal to purchasers who trust and confide in the brands, which in many cases have been operating luxury hotels for decades.”
