Insights from the Future Hospitality Summit in Dubai
The Future Hospitality Summit (FHS) in Dubai brought together leading figures in the luxury hospitality industry to explore key trends and opportunities shaping the future of the sector. Among the key topics discussed was the surge of branded residences, a dynamic sub-sector that continues to reshape the intersection of real estate and hospitality. Several esteemed members of The Luxury Property Forum (LPF) attended the event and have shared their valuable insights into the current state and future trajectory of the luxury hospitality industry. For those who couldn’t attend, we’ve gathered insightful commentary from LPF members who were there to share their experiences and key takeaways.
Riyan Itani of Global Branded Residences Ltd
Riyan Itani shared his thoughts on the growing importance of branded residences in the hospitality sector:
Branded residences are increasingly seen as a way to boost the viability of hospitality projects, providing significant income streams and helping developers stand out in competitive markets.
He also pointed out some of the emerging trends in the sector:
Standalone properties are on the rise, along with diversification away from purely luxury branded residences. We’re also seeing increasing participation from non-hotel brands and the use of AI and progressive architecture.
On key challenges, Riyan highlighted the importance of structuring homeowners' associations and rental programs effectively:
Formation and structuring of homeowners' associations must be in line with local law, and prudent rental program structuring is critical.
Riyan is optimistic about the future of branded residences, noting the sector's potential for geographic expansion:
The ‘runway’ is long for branded residences globally. I’m excited about the sector’s expansion and the new brands entering the market.
Sally Maier-Yip, Founder of 11K Consulting
When asked about key changes in the luxury hospitality sector, Sally Maier-Yip also pointed to the rise of branded residences:
We will see a further surge of branded residences worldwide, blending the residential and hospitality sectors to create something truly unique. The growing Chinese ultra-high-net-worth (U/HNW) population is driving demand for bespoke luxury lifestyles, both at home and abroad.
She shared a notable statistic, referencing a recent Knight Frank survey that indicates:
43% of respondents in Asia, including China, are willing to pay a premium for branded residences.
On key takeaways for her company and clients, Sally stressed the importance of choosing the right brand and location, particularly for the Chinese market:
Not all brands are favoured by Chinese buyers. Developers need to select the right partner and understand the motivations behind why Chinese buyers are investing in specific locations like London, Greece, or Dubai.
Regarding challenges, Sally noted the growing competition in the sector:
The competition in the branded residences sector will only become more severe. Developers must ensure they have a real differentiator.
Looking forward, Sally shared her excitement for the evolving definition of luxury:
Luxury now means slow travel that rejuvenates, restores, and heals. The future of luxury hospitality will be even more bespoke and creative.
Richard Bursby of Taylor Wessing
Richard Bursby shared his thoughts on the changes in luxury hospitality, highlighting the sector’s growing maturity and sophistication:
The teenage years are disappearing into the rear-view mirror as buyers become more discerning. Brands are recognising they need to up their game, and experienced developers with proven track records are leading the way.
When asked about key takeaways for his company, Richard emphasized the importance of involving expert consultants early in the process:
It's never too soon to involve experienced consultants and expert legal advisers. Slow is fast, and fast is slow.
He also warned of the risks associated with poorly structured developments:
There will be some car crashes as badly conceived and structured schemes fail. What’s shiny today may not glitter tomorrow if it’s built on poor legal foundations.
On the future of luxury hospitality, Richard's outlook was simple yet enthusiastic:
Everything excites me.
Adrian Strittmatter of Saentys
Adrian Strittmatter offered insights on the increasingly crowded luxury hospitality market:
We are seeing more and more products, brands, and locations coming into the market. It is becoming really crowded. Creating authentic brands and campaigns that bring true value to the customer is vital.
When discussing key takeaways for his clients, Adrian stressed the importance of understanding target groups:
Really make sure they know or we spend the time identifying clear target groups and purchase motivators.
On challenges, Adrian echoed concerns about poorly executed developments:
Fake or badly executed developments are a significant issue.
Looking to the future, Adrian is excited by the potential of new brands and bold geographies:
New brands exploring what it means to become a destination, and innovative products are what excite me most about the future of luxury hospitality.
The Future Hospitality Summit was a valuable opportunity for LPF members to engage with the evolving trends in luxury hospitality, particularly in the branded residences sector. Their insights paint a picture of an industry in transformation, with exciting innovations and challenges on the horizon. Whether it’s the rise of branded residences or the need for authenticity in luxury experiences, the future of luxury hospitality promises to be both dynamic and rewarding.
FOR MORE INFORMATION
GLOBAL BRANDED RESIDENCES
You may contact them directly using the information below:
Tel: +44 (0)7395 134 693
Email: ritani@gbresi.com
11K CONSULTING
You may contact them directly using the information below:
Sally Maier-Yip / Irene Tan
Tel: (+44)7376 943154 / +44(0)7841377018
Email: irene@11kconsulting.com / sally@11kconsulting.com
www.11kconsulting.com
TAYLOR WESSING
You may contact them directly using the information below:
Tel: (+44) 20 7300 7000
Email: R.Bursby@taylorwessing.com
SAENTYS
You may contact them directly using the information below:
Tel: (+44) 20 7407 8717
Email: adrian.strittmatter@saentys.com