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August 24, 2016 | 13:55 | Dubai
Hotel residences refer to apartments/villas in existing hotels which can be purchased. They essentially allow owners to live in a hotel permanently and enjoy the same services as normal guests do (i.e. room service, dining, cleaning etc.). Originally a New York phenomenon, the hotel residence trend has now started to catch on in other major cities and holiday hotspots around the world. Hotel residences are often difficult to identify such as ‘One Hyde Park’ in London – the apartments there are essentially hotel residences serviced by the Mandarin Oriental next door.
Hotel residences have become increasingly popular among the super-rich over the past decade for a number of reasons including:
Unsurprisingly, hotel residences sell at a premium to normal apartments. The top rated hotel residences in the world are listed below, as based on a recent New World Wealth survey which focused on the preferences of the world’s super-rich.