Hotel managed residences – new trend in Brisbane

The luxuries of staying in a five-star hotel can now be enjoyed all year long thanks to hotel-managed residences.

On-site private chef, 24-hour room service, valet parking, and daily maid service are just a few of the perks for apartment buyers in these new sophisticated buildings.

No longer content with simply hosting short-term guests, they’re now targeting the affluent who want to make their home in a hotel-managed residence.

Colliers International residential state director Ben Langfield said hotel living was a trend that would grow as people work longer and treasure their leisure time more.

"Busy people love them because everything is so available and usually at very short notice," said Mr Langfield.

Mr Langfield said they attract a 20 per cent price premium.

"Hotel companies know how people want to live when they’re away from home, and we are now realising that people want to live at home in a similar manner," he said.

"This trend has seen these apartments sell at a substantial premium to similar non hotel apartments in the same area."

Metacap Developments has announced plans for Empire Square in Brisbane, which will house a residential tower with 98 apartments, six penthouses and 306 hotel suites operated by The Westin.

Empire Square will provide a range of world-class services and facilities for residents including gourmet chef prepared room service and housekeeping.

"We think this trend will increase enormously in Brisbane over the next five years. There are at least four new CBD developments that will have an extensive range of hotel style services for residents."

Mr Langfield said the trend originated in the USA where busy people in New York have lived with hotel style services in apartments for 20 years – the best known example being Trump Tower.

Stamford Property Services Pty Limited general manager of development Anthony Rice said The Stamford Residences in Auckland which is due for completion in a few months would feature 149 luxury apartments above the five-star Stamford Plaza.

"Imagine being able to dial up the hotel situated below you and organise catering for a dinner party or room service in the early hours of the morning," he said.

"Being able to meet your friends in the lobby for drinks or even conducting a business meeting in a quiet corner of the hotel obviously has a great amount of appeal to many buyers," he said.

Mr Rice said empty-nesters, overseas buyers and part-time occupiers were attracted by the concept.

"Apartment buyers are looking for something to set them apart from the crowd," he said

Mr Rice said occupiers could have everything from tickets to a show organised to a business meeting arranged for them.

"Buyers appreciate the convenience, positive lifestyle aspects and other features normally associated with a five-star hotel," he said

Two buildings in the northern end of the Sydney CBD with a hotel component are Quay West and Quay Grand – both managed by Mirvac.

Colliers International sales executive Francis Fusco said the two buildings appealed to time poor executives staying overnight and retirees who are not inclined to move into a retirement village development, preferring to have the freedom to take up the benefits of the Hotel facilities when needed.

"Hotels are constantly evolving and refurbishing – creating a higher standard of fitting and service. Consumers become used to this standard and appreciate the quality. Developers constantly review these new standards and incorporate them into their apartments," he said.