‘Live large and luxe’
An appetite for an elevated lifestyle fuels the demand for hotel residence in the country, said real estate experts during the latest leg of INQ Talks, held last week at the Novotel Suites Manila At Acqua.
“Living in a hotel residence is more than owning a home. It’s a statement of success and a lifestyle reserved for those who have achieved a certain level of wealth and sophistication,” said Carl Dy, the president of Spectrum Investments, a leading property portfolio management company.
“It is where luxury, convenience and exclusivity come together to celebrate your accomplishments every day,” said Dy, who was one of the resource speakers at the event titled, “Live Large & Luxe: Unlocking Opportunities in Hotel Residences.
The event, done in partnership between with Century Properties Group, was aptly held at the Novotel Suites Manila at Acqua–the company’s first hospitality venture in partnership with global powerhouse Accor.
Appeal of hotel residences
Dy, in his talk, emphasized several “insights” about living in a hotel residence, explaining the appeal and advantage of such options today.
He said hotel residences offered comfortable and aesthetic living spaces, top-tier hotel amenities, and professional property management that leads to longevity. Economically, a hotel residence could offer competitive rental yields, and sell at a higher price or enjoy capital appreciation overtime.
Dy added that hotel residences symbolized success because a “hotel brand adds trust and credibility,” and lent a sense of prestige and pride for a property owner.
Thriving landscape
Alfred Lay, a director at Leechiu Property Consultants (LPC), agreed with Dy, noting that clients sought “hassle-free ownership, premium amenities, world-class hospitality and strong investment potential.”
He presented a psychographic profile of the hotel residence clientele that included an emphasis on the quality of the buildings, the services and amenities at the homeowners’ disposal, and the lifestyle developers curate for them, characterized by privacy and accessibility, among others.
“Branded residences in the Philippines predominantly attract family-oriented buyers, both those with cohabiting and grown children,” he said.
Lay also provided a preview of the thriving hotel residence landscape in the country: 1,886 existing units in Luzon, Visayas and Mindanao, with an additional 3,030 soon to hit the market.
The well-heeled set is expected to wrestle for the units, with LPC’s statistics revealing that take-up for the current supply was highest among financially successful investors and entrepreneurs. Following them were retirees and freelancers or consultants.
Both Dy and Lay engaged in a question-and-answer session, joined by a third panelist: licensed interior designer Chat Fores.
Inquirer Property editor Tek Samaniego, who moderated the session, remarked at its conclusion: “It’s clear that hotel residences are not just a trend—they’re a significant evolution in the way we think about hospitality, lifestyle and investment.”
