The branded residences sector has seen phenomenal growth and there is no sign of it slowing. The number of branded schemes has grown by 195 per cent in the last decade and there are more than 430 branded schemes globally with a combined total of 65,000 units.
A record number of schemes opened this year, with 60 projects delivering more than 9,000 additional branded units across 21 countries. This record is expected to be broken again in 2020 when nearly 70 schemes are due to complete.
This growth is being driven by the hoteliers with hotel-branded schemes accounting for 86 per cent of the completed schemes and 96 per cent of the pipeline supply. Marriot International, whose brands include Ritz-Carlton, St Regis and W, is the market leader and is set to remain so. However Accor is rising fast and has a pipeline equal to Marriott International.
In the Middle East, Emaar Hospitality Group is growing fast with an extensive pipeline across the UAE and wider Middle East under its Address and Vida brands.