These Hot Spot Hotels have real estate for sale
Residence hotels aren’t a new trend: Four Seasons Hotels and Resorts and Aman are just two of the many brands that have offered homes for sale over the past decade or more. But until recently, this real estate branch of the hospitality industry was mostly limited to larger and more familiar chains. That is changing today with boutique properties, some of which are privately owned, getting into residential gaming.
“Well-established hotel companies have had incredible success in real estate, so it makes sense that smaller names would want to venture into the area as well,” says Zackary Wright, executive director of Christie’s International Real Estate. “This happens particularly in seaside resorts. “
Take Tribal hotel, in Granada, Nicaragua, for example: co-owner Jean-Marc Houmard, also owner of the famous Indochine restaurant in New York, designed and sold two houses near the property in 2019. He recently put up for sale a third, Casa Toledana, for $ 370,000. Built in the style of a Moroccan riad and spanning 4,790 square feet, it has four bedrooms, two outdoor lounges, a swimming pool, and an interior courtyard teeming with plants and flowers.
“I have had the hotel for over six years now and I was looking for another creative project,” explains Houmard. “When I saw that real estate was becoming mainstream in the hotel space, I decided to give it a try.” Houmard adds that he enjoyed the process and plans to continue designing and selling homes in Granada – a rustic Ibiza-inspired farmhouse and a modern tropical house with square lines are next on his list.
The Preserve Sporting Club and Residences, a 3,500-acre resort between Newport and Watch Hill, Rhode Island, is another example of an individual hotel with real estate. The property caters to adventurers with activities such as clay shooting, fly fishing, biking and ziplining. Owner Paul Mihailides is launching 245 residences ranging in size from 600 to 6,000 square feet, including townhouses, single family homes and tree houses; prices start at $ 1 million and go up to over $ 9 million.
Still on the east coast, Blantyre seaside resort in Lenox, MA, extends beyond hotel rooms with 14 residential lots and 20 townhouses in the style of traditional English stables. The latter will be spread over five buildings, each with a paddling pool and landscaped gardens; the project begins this fall and prices will start at $ 800,000.
Two Caribbean hotels have new residences: Grenada Silver Sands, on the island of the same name, recently inaugurated eight villas. Half are located along a hill; the rest is on picturesque Grand Anse Beach. They range from 5,000 to 6,000 square feet and have a contemporary aesthetic that includes light woods and white tones; prices start at $ 7 million. Owners can take advantage of resort amenities such as the 300-foot-long swimming pool, cigar and rum lounge, and three restaurants.
Too, Crane stations, on the east coast of Barbados, has just launched an eco-friendly development, Beach Houses by The Crane, which will have 63 villas when the project is completed in the next few years. Beach Houses will include a secluded beach, restaurant and bar; the property starts at $ 595,000.
And in Europe, Finca Cortésin, an upscale resort in Andalucia, Spain, has a collection of 10 contemporary villas built into the mountainside, offering views of the Mediterranean Sea. The houses have swimming pools, large terraces and indoor and outdoor dining areas. Prices start at $ 4.8 million.
All of these residences have the potential to generate strong sales, according to Henry Harteveldt, travel industry analyst and founder of Atmosphere Research Group. “When a trusted hotel puts its name on a residential real estate project, the project benefits from this hotel brand’s reputation for design, style and service,” he says.
Originally appeared on Architectural summary