Source: Mansion Global —
When it launched with a single New York hotel in 1998, W was synonymous with a kind of late-night urban glamour. Now, many of the guests who grew up with the brand are settling down—and so is W.
Along with hotels, residential development is powering W’s growth these days. Instead of just cities, W is shifting its expansion to “resort” locations in far-flung destinations. The brand has reinvented itself around pillars like mindfulness. And while its first W Residences have been located within hotels, W is about to open its first standalone residential project, a 376-unit property in Dubai.
“Dubai sold out completely in the first three months of sales,” said Dana Jacobsohn, Marriott International’s chief development officer for U.S. luxury brands and global mixed-use. Likewise, the W Algarve Residences in Albufeira, Portugal, the brand’s first property in that country, set sales records for a branded residence in Europe.
Now, W is moving into branded rentals, Jacobsohn said—a first for any Marriott International brand. “I think about W as an icon in the industry, but one that needs to evolve for the next generation,” she said. Ms. Jacobsohn talked to Mansion Global about the global rise of U.S. buyers, why mindfulness matters to luxury owners, and why true luxury “is not just about kitchen countertops.”
Mansion Global: The W Residences pipeline is in new kinds of locations—mostly resorts, mostly outside the U.S. Why is the brand going that way?
Dana Jacobsohn: Almost all the places in our pipeline are in resort locations. This year alone, we have the W Gramado, which sort of feels like Switzerland in the mountains of southern Brazil. A W Hotel and W Residences is coming to Mexico in [coastal Cancun community] Costa Mujeres. We’re opening the W Costa Rica Reserva Conchal, a hotel and W-branded residence. For every project, we do a lot of analysis to make sure demand is strong, that there’s enough connectivity and airlift for owners and guests to access the project, and that there are amenities, wellness and cultural items nearby. In many markets, we’re the first branded residence—like the region around W Gramado, for example.
MG: The W brand has a distinctive personality. What do buyers want from a W Residences property?
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