Squarefoot - Branding Power
Branded residences are springing up across Asia... except Hong Kong.
Pilar Morais, CEO of local upmarket serviced apartment provider CHI Residences theorises the lack of branded residences in Hong Kong – for lease or sale – comes down to basics, including space and business plan. “I don’t think Hong Kong is keeping them away. I think you’ll see a shift towards it. You have the Cullnan, which is almost like a branded residence, not quite there, but it’s similar. The hotels are shifting there. But the hotels are coming here to open hotels and not make a residence. They are taking measures for longer stay guests. Their mentality is changing because they have to compete with residences like ourselves.”