Indian Branded Residences: A Lucrative Opportunity for International Business Growth

Indian Branded Residences: A Lucrative Opportunity for International Business Growth

By Nishang Narayan

Published on September 4, 2024

The global branded residences market is expanding at a notable pace of 12% annually, with its footprint extending across the USA, Thailand, UAE, Portugal, Greece, the UK, Brazil, Vietnam, and beyond. This surge is driven by a resurgence in luxury travel, an increasing desire to own lifestyle assets, and the perception of real estate as a safe haven. Factors like relocation and children’s education are also contributing to this growth. From the Waldorf Astoria in New York to the Standard Residence in Phuket and the Mayfair Park residence in London, branded residences are gracing affluent neighborhoods worldwide. India, too, has the potential to become one of the epicenters of branded residences.

According to a recent white paper by SKYE Hospitality, India could become an attractive destination for branded residences. While India already boasts a sizable supply of 2,900 units—accounting for approximately 10% of the global market supply—there is ample room for this niche, yet rapidly growing, luxury segment to flourish.

India has witnessed a significant increase in the number of affluent households. These modern HNIs (High Net Worth Individuals) and UHNIs (Ultra High Net Worth Individuals) are seeking exclusive spaces, top-tier amenities, and curated services, driving the demand for branded residences. A few years ago, features like in-home dining services, concierge services, exclusive wine cellars and cigar lounges, and wellness spas within residential projects seemed unimaginable. Today, thanks to branded homes, these offerings are gradually becoming mainstream.

Prominent brands, both within and outside of hospitality, have already ventured into this segment. Notable names include Yoo, Trump, Versace, IHCL, Leela, Four Seasons, Atmosphere Core, Marriott, and Oberoi.

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"Despite significant growth in branded residences in recent years, what we have observed is just the tip of the iceberg. India has tremendous untapped potential to capitalize on. Average HNI Indians are spending generously on aspirational lifestyles, which will unravel a big market for branded residences. Interestingly, the trend will no longer be limited to big metros but will also percolate to tourist destinations and Tier-2 cities," said Mr. Ankit Kansal, MD of SKYE Hospitality.

In addition to strong demand driven by the rise in affluent households, India also offers a significant cost advantage. According to SKYE's study, average prices for branded residences in London, Miami, and New York are approximately ₹39.5 crores, ₹20.3 crores, and ₹60.2 crores, respectively. Average ticket sizes in other emerging cities such as Dubai (₹13.5 crores), Athens (₹17.9 crores), and Phuket (₹10.5 crores) are also high. In contrast, the average ticket size of branded homes in India is around ₹9 crores, with opportunities in the lower bracket as well (₹6-7 crores).

"Rich Indians are key growth drivers in international property markets such as Dubai, Singapore, London, and Athens. Now, with exclusive spaces and aspirational living available in their own backyard, many will likely turn their attention inwards rather than looking across borders," added Mr. Ankit Kansal.


Salt Lake Winter Roundup Returns with Sports and Cultural Festivities

Salt Lake Winter Roundup Returns with Sports and Cultural Festivities

By Manu Vardhan Kannan

Published on January 14, 2025

Visit Salt Lake is thrilled to bring back the Salt Lake Winter Roundup, scheduled for Saturday, February 8, 2025. In partnership with the Days of '47 Rodeo, this all-day event will transform downtown Salt Lake’s West Temple, between City Creek Center and Abravanel Hall, into a bustling western hub. Celebrating Salt Lake’s legacy in sports, arts, and culture, the Winter Roundup promises an unforgettable experience for locals and visitors alike.

Exciting Activities for All Ages

The Salt Lake Winter Roundup boasts a lineup of thrilling activities and performances. Highlights include:

  • Skijoring (1–4 p.m.): A high-energy fusion of rodeo and ski racing.

  • Live Music & Performances: Local talent and cultural showcases.

  • Interactive Fun: Mechanical bull rides and family-friendly attractions.

  • Food & Brand Activations: Delicious offerings from food vendors and interactive brand experiences.

Kaitlin Eskelson, President & CEO of Visit Salt Lake, shared her enthusiasm for the event:
“This year’s Salt Lake Winter Roundup is a celebration of Salt Lake’s welcoming spirit and rich history. Events like this connect visitors and locals to our vibrant culture while supporting our visitor economy, from hotels to local businesses. We’re proud to showcase what makes Salt Lake such a unique and thriving destination.”

A Partnership to Celebrate Heritage

The collaboration with the Days of '47 Rodeo brings an authentic touch of Utah’s western culture. Tommy Joe Lucia, Executive Director of the Days of '47 Rodeo, expressed his excitement:
“The Utah Days of '47 Rodeo is proud to partner with Visit Salt Lake to showcase our state’s western culture and heritage with this spectacular festival. It’s a winter wild west ride like no other.”

More to Explore in Salt Lake

The Winter Roundup is just the start. Visitors can extend their stay and enjoy a variety of events, including:

  • Professional Bull Riding at the Delta Center.

  • Stunning performances from Ballet West and the Utah Symphony.

  • Dining and nightlife options across the city.

For full event details, hotel packages, and a complete schedule of activities, visit Visit Salt Lake Winter Roundup.

About Visit Salt Lake

Visit Salt Lake is a private, non-profit corporation dedicated to promoting Salt Lake as a convention and travel destination. By enhancing the local economy and fostering sustainable tourism, Visit Salt Lake contributes significantly to the area’s $5.8 billion visitor economy.


Hyatt Centric Makes Its Nepal Debut in the Heart of Kathmandu

Hyatt Centric Makes Its Nepal Debut in the Heart of Kathmandu

By Nishang Narayan

Published on January 14, 2025

Hyatt Hotels Corporation, in collaboration with City Hotel, has officially launched Hyatt Centric Soalteemode Kathmandu, marking the debut of the Hyatt Centric brand in Nepal. The property, formerly known as Hyatt Place Kathmandu, has been extensively renovated to reflect the vibrant culture of Kathmandu while offering world-class amenities.

Nestled in the heart of the city, Hyatt Centric Soalteemode Kathmandu is designed to be the perfect base for explorers and savvy travelers seeking an authentic connection with the city’s cultural pulse. The hotel features 153 thoughtfully designed guest rooms, blending functionality, contemporary aesthetics, and locally inspired art. All guests enjoy complimentary Wi-Fi, ensuring a seamless stay.

Highlighting the significance of this transformation, Akshay Golyan, Executive Director of City Hotel, remarked:

“After an extensive renovation, we are excited to introduce the Hyatt Centric brand to Nepal, offering our guests a gateway to Kathmandu’s cultural and contemporary pulse. Hyatt Centric Soalteemode Kathmandu is designed to inspire exploration while providing a modern local home base for savvy travelers, so they never miss a moment of adventure.”

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The hotel offers over 8,600 square feet of versatile event spaces, accommodating groups ranging from 10 to 600 people. These spaces are ideal for business meetings, social gatherings, and weddings, making the property a hub for events in Kathmandu.

Varun Talwar, General Manager of Hyatt Centric Soalteemode Kathmandu, shared his enthusiasm:

“We are thrilled to open our doors and welcome guests and World of Hyatt members to the first Hyatt Centric branded hotel in Nepal. From meticulous design to innovative culinary offerings, we aim to become the starting point for every traveler’s adventure.”

Dining at the property is a sensory delight. The Centric Lounge serves as a vibrant social space offering artisanal coffees, signature cocktails, and locally inspired bites. Guests can indulge in global flavors with a local twist at NOON, the all-day dining restaurant, or enjoy stunning views of Kathmandu at ZING Sky Pool Bar & Deck, the poolside bar and lounge.

Hyatt Centric Soalteemode Kathmandu perfectly combines modern comfort with cultural immersion, making it a unique destination for travelers looking to explore the charm of Kathmandu. With its strategic location, luxurious offerings, and a strong emphasis on local culture, the property sets a new benchmark for hospitality in Nepal.


Free Airbnbs and Hotel Discounts for LA Wildfire Victims

Free Airbnbs and Hotel Discounts for LA Wildfire Victims

By Nishang Narayan

Published on January 14, 2025

The ongoing wildfires in Los Angeles have forced over 180,000 people to evacuate, leaving many with no homes to return to as entire neighborhoods have been reduced to ashes. In the wake of this devastation, the hospitality and tourism industry has stepped up, providing crucial support to displaced residents and travelers in need.

Free Accommodation Through Airbnb

Holiday rental platform Airbnb, in partnership with 211 LA, is offering free temporary housing to wildfire victims. Funded by Airbnb.org, a nonprofit established to provide emergency housing during crises, and supported by Airbnb hosts, these accommodations focus on the hardest-hit areas, including Altadena, Malibu, Pacific Palisades, Pasadena, Santa Monica, and Sylmar.

Vrbo has also extended support by offering refunds to guests who had to cancel reservations due to fire damage in affected areas.

Discounted Hotel Stays

Hotels in Los Angeles and Anaheim have joined the relief efforts, offering discounted rates to evacuees. Guests staying at these properties are advised to keep their receipts and photos for insurance reimbursement. Among the pet-friendly options are Hilton Irvine Orange County Airport, Alisal Ranch, and Mission Inn Hotel & Spa, which are welcoming evacuees with animals.

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Free Transportation Options
Ride-sharing services Uber and Lyft are providing free transport for evacuees. Uber is offering trips valued up to $40, while Lyft allows two rides of up to $25 each to shelters in fire-affected areas, ensuring evacuees can travel safely.

Tourism Industry Unites

The Los Angeles Tourism Board has compiled a comprehensive list of resources, including discounted hotel stays, to assist those impacted by the fires. These efforts reflect the industry's commitment to helping communities in times of crisis.

Amid this challenging time, businesses are rallying to offer support, demonstrating the power of community and solidarity. Whether through free accommodation, discounted stays, or transportation, the travel industry is playing a critical role in aiding those affected by the wildfires.

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