Discover Nobell Group – providers of an ultimate alternative solution for high-net worth buyers and developers with their revolutionary “Residential-oriented” management concept.
High-net worth buyers are expecting the five star hotel services they experience in their travels to be experienced in their homes so property developers are clamoring to partner with upscale hotel brands in order to deliver them.
Nobell Group is one of the first in the market to deliver a fully integrated five-star condominium experience, not only to new projects, but also to existing occupied ones.
Luxury Residential Management Needed a Change
Until recently, it was primarily hotel companies that undertook luxury residential management, offering a standard array of services. A wealthy buyer wishing to enjoy a five-star lifestyle in a residence was restricted to purchasing a residence managed by a large luxury hospitality brand, combined with a hotel in the same building. A solution, but a flawed one, as high monthly fees for a package of services, many of which remained unused due to the fact that services provided to residents were an extension of the very same services provided to the hotel guests, without giving a thought to the fact that resident needs and hotel guest needs were actually quite different from the outset.
Needs of Hotel Guest vs Hotel Resident
The hotel life and residential life clashed; congested public areas, noisy arriving and departing guests, overcrowding of amenities in mutually shared public spaces and security risks continued to add to the feeling of frustration – the highly coveted status of the valuable guest did not prove to be an ideal strategy in the long run. Where the hotel-brand operator is concerned, the main revenue source in a combined hotel / residence operation is generated from the hotel guests and not residents, considering that the hotel brands have had to work extra hard to maintain hotel guest happiness. While there are always other alternatives, this option is not available to the resident, locked into a brand agreement with virtually no exit opportunity leading residents to feel less catered to, especially after an extended period of living in their hotel branded home.
Separating Residential Lifestyle from Hotel Services
A ‘Private and residential-oriented solution’ and living experience were offered as a solution; these services operate completely independently from the traditional hotel/ residence hybrid model resolving the issue of improved privacy for the resident, however, it has come at the expense of the monthly fee, which has, in some cases doubled, as the previous business model benefited from the costs of related amenities and services being split between the full time resident and the variable income from the hotel guest. With all these issues, for newer standalone branded residences, the costs are now being fully placed on the resident at a high cost in the thousands of pounds per month.
Enter External Management Firms
In an effort to better serve the high net worth buyer, developers have started to search for alternative solutions at a price point that appeals to landlords. For example, the iconic property 432 Park Avenue in New York and Monaco’s Tour Odeon are just two key developers that have chosen an alternative direction away from branded hotel companies by hiring external management firms and even establishing their own in house facilities operation in order to supply hotel type lifestyle.
The Nobell Solution
Nobell Group identified five key problems in the luxury residential market that were the springboard for their mission and philosophies. In these problems were opportunity to better serve the residential client and landlord. With Nobell’s focus on residential client services.
- 90 % of the market offerings for a 5 star residential experience include a hotel
- The services offered to a resident are hotel guest oriented and not really
- In the race by hotel brands to address problem number 1, mandatory fees have started to approach the point where only the elite few can afford
- Today, the hotel-brand solution can only be considered for new projects, particularly as 75 percent of the total luxury residential market is already occupied by tenants without the possibility of upgrading to hotel branded services, with ultimately the only benefit to the hotel brand resident is one of being the envy of
- The developer is trying to meet the rapidly changing situation in luxury residential market, where now the lifestyle component has more weight than the real estate component, but there are no tools on market available to deliver the complete process and the developer has no experience in luxury hospitality field, he is a constructor and not a hotelier….but today to build a successful luxury real estate project, it’s no longer enough just to be a good constructor or architect alone, luxury hospitality experts must now be brought in to all aspects of the process.
Nobell Group has created a concept of a luxury lifestyle designed for residents only to solve the above-mentioned problems.
How will Nobell achieve these goals? Through a deeper understanding of a resident’s needs that are essentially quite different from the classic hotel guest, we are approaching the resident with unique innovative solutions to further enhance their lifestyle – says Ray Mc Shane, CEO of Nobell Group.
“Nobell group is a 100 % luxury residential service and product company that finally provides a viable solution to the issue of combining a hotel and residence inside a luxury development. However, should a developer insist on this configuration, our core team of experienced International luxury hoteliers would be happy to provide a hotel operation solution. For example, we understood early in our resident research process that in-house permanent restaurants and other F&B solutions for residents would never satisfy their needs and desires. Everyone enjoys a luxury in-room dining experience as a ‘one time guest’, but no one is going to enjoy repeating that same experience and food selection every day for years!” comments CEO Ray McShane.
Nobell has also created a mobile application exclusively for residential living support. Interactive, innovative and informative, the mobile butler app goes beyond any traditional residential experience ever. A full range of interactive services is offered directly from a residents private phone. Make concierge requests, contact reception, book and customize housekeeping service, request butler assistance, use room service and even customize your favorite dishes. With varying integrations, tablet butler even provides control of lights, temperature, curtains and the TV, directly in the residents home.
For more information on their services and various solutions, visit https://nobell.com/