18 February 2021
The Next Big Trend for Luxury Hotels? Branded Residences
Aman New York Rendering

When the highly anticipated Aman New York debuts in the Crown Building on Fifth Avenue, it will be the brand’s first urban location with private residences. Half of the 22 homes have already been snatched up by loyal Aman junkies, including the five-story $180 million penthouse, whose buyer is constructing a spa and meditation room in the copper cupola overlooking Central Park.

According to Vanessa Grout, Aman’s head of global residences, 40 percent of the current buyer base owns multiple residences within the Aman portfolio, which includes 37 hotels and resorts, nine of which have the option to own a residence. “Our phones have been ringing off the hook and I’m very optimistic about what’s to come for New York City,” Grout told Departures, explaining that the brand is reacting to increasing demand from their guests. “The residences are taking on a major part of the story for Aman. We’ve seen particularly in the last year that residences have outperformed hotel rooms.”

There’s no doubt that the COVID-19 pandemic has placed a greater emphasis on home life, as many people around the globe have shifted to working remotely and generally spending a lot more time at home. And though people living in hotels is nothing new—F. Scott Fitzgerald lived at the Plaza and Coco Chanel occupied a suite at the Ritz—moving into an apartment run by a hotel might just be the perfect pandemic-era life hack. Aside from keeping the residences spotless, staff help with grocery shopping, maintenance, decorating for the holidays, and anything else you need.

Read the full story by Laura Itzkowitz for Departures

Article Link: https://www.departures.com/tra...