James Price oversees Four Seasons’ residential portfolios across EMEA and APAC, driving new projects and supporting business development efforts. He delves into the expansion of Four Seasons’ residential offerings, with a focus on both standalone and mixed-use models.
Price highlights the rapid growth of the branded residential sector, emphasizing the critical role of service standards. He also addresses evolving buyer preferences, which are shaping resort profiles, rental programs, and strategies for adapting to European markets.
Key Highlights
- Market Growth: Branded residences see rapid expansion, with 53 projects in 21 countries and 30 more planned in five years.
- Buyer Trends: High demand for mixed-use and standalone properties; buyers prioritize service, amenities, and transparency.
- Regional Insights: Urban properties cater to primary homeowners; resort properties focus on vacation experiences and rental programs.
- Pandemic Impact: Boosted demand for wellness features, home offices, and community-driven amenities.
- Four Seasons’ Edge: Exceptional service and asset management drive long-term value, setting them apart in the market.
James PriceVice President Residential at Four Seasons Hotels and ResortsThe branded residential sector has grown dramatically, with many brands entering the market. For us, the focus is on providing exceptional service and long-term value. We manage everything from operations to homeowner relationships, which ensures the properties retain their value.
Transcript:
Eric:
My name is Eric Dahlstrom, and I’m the CEO of JamesEdition. JamesEdition is the leading global marketplace for luxury properties. We have over 400,000 of the world’s finest listings for sale from more than 16,000 real estate agents in over 140 countries. Through a personalized property search and tailored recommendations, we directly connect high-net-worth individuals with our network of trusted real estate partners.
Today, we are joined by James Price, Vice President of Residential at Four Seasons. Four Seasons is not only a hotel brand but also one of the leaders in branded residences globally. We’ll be discussing what differentiates Four Seasons from other brands in this market space, their approach to different geographies and property types, and considerations for potential buyers. We’ll also explore what has driven the acceleration of this market in recent years, including the effects of COVID, and get a glimpse into the future.
Branded Residences: What’s Driving Global Demand?
Eric:
Great to have you here! What I thought we could kick off with is just an understanding of what your role as Vice President Residential at Four Seasons entails.
James:
I’ve been with Four Seasons for about eight and a half years, during which we’ve significantly grown the residential business. We have ambitious growth plans, and my role involves overseeing our EMEA residential portfolio in terms of new projects and supporting our business development teams. I also work closely with our APAC team based in Singapore.
My responsibilities include applying a residential lens to new projects, conducting due diligence, and overseeing the design and build phases, ensuring the project aligns with our brand standards. Once ready for market, I guide developers on sales strategy and maintain long-term relationships to monitor progress and provide ongoing strategic support.
Eric:
In terms of size, how many properties do you have now globally?
James:
We currently have 53 projects open and operating across 21 countries. Our first full private residences project was in Boston in 1985. Over the years, we’ve built a robust portfolio, and within the next five years, we expect to add another 30 projects. The residential part of our business has seen strong growth, and we’re also focusing on standalone residential models in addition to our mixed-use projects.
Eric:
When you mention standalone residential models, does it mean that most of the current projects have both hotel and residential components?
James:
Yes, the vast majority of our current portfolio is mixed-use, with residential integrated into hotels. This approach is in high demand as it enhances the commercial viability for developers while providing homeowners with access to world-class amenities. However, we’re increasingly developing standalone residential projects. Six standalone residences have already opened, and we have several more in the pipeline.
What Buyers Need to Know About Branded Residences
Eric:
What is the definition of a branded residence today, and how is the space evolving?
James:
The branded residential sector has grown dramatically, with many brands entering the market. For us, the focus is on providing exceptional service and long-term value. We manage everything from operations to homeowner relationships, which ensures the properties retain their value.
Other brands may prioritize design or marketing appeal, but our approach is rooted in hospitality excellence. It’s about creating a community for homeowners while maintaining high service standards and asset management.
Eric:
As a potential buyer, what should someone ask a developer or brand before buying into a branded residence?
James:
Buyers should consider the long-term value and ask about property management, access to amenities, and the homeowner association’s structure. It’s essential to know who will manage the property, how the rental programs work, and what service charges will look like. High-net-worth buyers, especially, expect transparency and high standards, so developers must be prepared to answer these questions in detail.
The Future of Branded Residences
Eric:
How do different markets and property types influence the projects and their design?
James:
There are significant differences between urban and resort properties. Urban properties often feature stacked towers with private lobbies and exclusive amenities, catering to primary homeowners. Resort properties focus more on creating vacation experiences, often incorporating rental programs.
Geography also plays a role. For instance, Europe has unique challenges with its historic cities and buyers’ traditional preferences, whereas markets like Dubai and Miami are more open to innovative branded residential concepts.
Eric:
What role has the pandemic played in accelerating branded residences, and are there lasting effects?
James:
The pandemic highlighted the value of flexibility and wellness in home design. People now prioritize home offices, wellness areas, and community-driven amenities. It also reinforced the importance of safety and thoughtful management, which are core to our brand. During the pandemic, many chose to stay in our residences, trusting us to provide the best care.
Eric:
Thank you very much, James.
James:
Thank you, Eric. I appreciate the opportunity to discuss this.
