"The concept of branded residences is not present in the Czech Republic yet; however, it is not a novelty in Europe. There is, for example, the alpine Six Senses Residences resort in Kitzbühel in Austria, the Mandarin Oriental Residences in Barcelona or The Whiteley project that is under construction in London and will also betide to the Six Senses brand,"explains Lenka Pechová, Senior Research Analyst at Savills.
“Branded residences have diversified from being entirely luxury hotel-driven to offering products across all hotel chain scales. New brands set to enter the sector include Dolce & Gabbana, De Grisogono, Mama Shelter and Rare Finds,” says Rico Picenoni, Head of Savills Global Residential Development Consultancy.
In terms of non-hotel brands, YOO remains in the top spot, however, brands such as Pininfarina (Mahindra), Elie Saab and Versace (Capri Holdings) are set to move up the rankings over the coming years.
In terms of the hotel brands themselves, Four Seasons, The Ritz-Carlton and St. Regis lead the space (the latter two within the Marriott International portfolio of brands).
Savills estimates that non-hotel brands will account for 20% of the total supply by 2030, an increase of approximately 40% from current levels.
Within hotel brands, whilst luxury chains still account for two-thirds of completed schemes, upper-upscale and upscale brands are increasing their presence and are forecast to increase their market share by 50% and 70% respectively.