The suite life: Five-stars offer homes you can rent for weeks, months, years
You can now get a hotel experience, with a permanent address.real estate Updated: Sep 18, 2017 20:02 IST
Living in a hotel full-time is no longer the stuff of daydreams.
Several new projects in the city are offering permanent addresses that come with five-star amenities such as housekeeping, room service, a 24x7 concierge / reception desk, all-night restaurants and bars. The best part: the projects are set to be run by big-brand five-star hotel companies.
The Four Seasons will have its for-sale private residences ready for possession by 2019; the Taj Group, Mariott and Grand Hyatt are also offering residences near their hotels in the city.
You can rent units here on long-stay bases ranging from a week to a couple of years or more. Rates are lower the longer you stay.
Takers typically include NRIs, expats working in the city, high-flying executives, and very high-net-worth individuals.
“High-net-worth buyers don’t want the hassle of hiring staff and training them or overseeing housework and repairs. What they want is to come home to a freshly cleaned room and a lobby that leads to a bar or a spa,” says Adarsh Jatia, managing director of Provenance Land, which has built the Four Seasons private residences in Worli that will be managed by the Four Seasons hotel. “At these homes, you also do not have to worry about prepping for guests or executing the duties of a host; the staff does it all for you.”
It all started when large companies began leasing five-star rooms to accommodate senior management over longer durations, says Samantak Das, chief economist and national director for research at Knight Frank India. “It was hassle-free and you had to pay just one bill every month rather than a list of charges for electricity, domestic help etc. This encouraged the growth of the five-star residences model, and now we’re also seeing many residential projects go resort-themed, with hotels stepping in to take charge of upkeep and maintenance.”
Buying a house at the 60-storey Four Seasons Private Residences tower meant buying a hotel experience with a permanent address, says businesswoman Meena Chainani, an NRI who splits her time between Dubai and Mumbai. “I do not have to worry about hiring domestic help or waiting for them to arrive every morning. Isn’t that luxury? Besides, flats look beautiful; there are 24X7 concierge services and sea views.”
Grand Hyatt Mumbai has 110 apartments close to the hotel in Santacruz. “There are 1, 2 and 3 BHK flats up for rent online on the hotel website,” says marketing communications manager Pratiti Rajpal.
The residences come with all the amenities of the hotel, including room service and laundry. “You do not have to worry about buying groceries, booking a cab or ordering food, there is staff to do everything for you,” says Rajpal.
Per night costs start at Rs 12,000 for a 1BHK, with discounts for stays that last longer than a week.
“You can hang family photos on the walls, stock up the kitchen and boom, you’ve got a lovely home with all the conveniences of a five-star,” says Jay Vardhan, 30, a chef who has been living at the Grand Hyatt residencies for a year.
“The best thing about the arrangement is there is very little to no responsibility for the resident. Everything is taken care of from shopping to security,” adds Vardhan, who was renting a home before this and found trying to juggle housekeeping with a demanding job too tough to do.
Among the first to offer a suite life in Mumbai were the Indian Hotel Company’s Taj Group, and the Marriott.
Taj Wellington Mews offers 80 luxury residences in Colaba, spread across 2.6 acres of landscaped gardens. Minimum stay is a week, with pets allowed too.
Prices start at Rs 15,000 per night for a 1BHK. “The hotel offers transport facilities, Taj hospitality and a doctor on call,” says general manager Anmol Ahluwalia.
Mariott has had executive apartments at Powai called Lakeside Chalet since 2000. “You can even hand over a grocery list every day, and we’ll make sure your supplies are waiting for you when you get home,” says resident services manager Ashwin Vaidya.