While the concept of a combined hotel-condo is not new, recent developments of this kind in downtown Toronto have become increasingly popular, as glamorous buildings house world-class hotels on lower floors with hotel-style residences on upper floors. Indeed, there has been a growing tendency from developers to stand out in an increasingly competitive market by adding that little extra to put their design over the top. The newest hotel-condo hybrids appeal to those who want to experience the relaxation, attention and opulence of a five-star luxury hotel on a daily basis. Those who opt for a permanent stay in these luxury units experience the perks and convenience of hotel service like housecleaning, room service, an ideal location, stunning lobbies, and attentive staff – so it’s no wonder that these hybrids are becoming a force to be reckoned with.
Big names like Trump, Ritz Carlton and Four Seasons are known for excellence in hotel services across the globe- and you’ll likely experience the quality that they are renowned for in their residences. The companies behind some of Toronto’s biggest hotel-condos have a strong international presence. Shangri-La, for instance, has five-star hotel locations in Beijing, Dubai and Paris. While Trump Tower in Toronto is the only Trump hotel expansion outside of the US, the Trump name is known worldwide, synonymous with quality and elegance. The Ritz Carlton Residences are sure to be a success, since the hotel brand is known for classic luxury and has a century-old reputation. The Cosmopolitain is on many travel hot lists as a destination hotel, and offers the convenience of a fully-furnished high calibre suite that is yours to keep. The big names behind hotel-condos attract big name clientele. For instance, the West Penthouse at the Four Seasons Private Residences sold for a Canadian Record of $28 million in May.
A World Below
Most new hotel-residence hybrids feature the hotel segment on the first twenty or thirty floors, with the remaining floors reserved for private residences. This unique setting means that residents are living above high class (and often celebrity) world travelers staying at the hotel below, in an environment of constant excitement with a steady flow of interesting clientele. Many of these companies have created destination hotels, and living in one means you have world at your fingertips. Being in the midst of all this action, however, may raise some concerns about privacy, security and most importantly peace of mind. Trump Tower takes this into account by constructing its residential floors to hold only four-six units per floor, ensuring that your living space feels more like a home than a hotel room.
Lately, the hotel-condo concept has been taken a step further with the addition of world class spa service. While The Lotus at 8 Scollard boasts the only luxury spa and residence combination in the city, many hotel-condos are including spa service that can hardly be considered an afterthought. The Ritz Carlton offers one of the largest hotel spas in Toronto, the Hazelton Hotel and Residences features a two-storey infinity pool as part of its spa design, and the Cosmopolitain offers a Japanese-inspired urban oasis in its ‘Shizen’ spa. Trump Tower takes it a step further, offering a full spa that takes up two levels in the building. Shangri-La goes further still with CHI, its renowned spa chain, making luxurious private spa suites and villas and ancient Chinese and Himalayan treatments available to residents.
In the intense downtown Toronto condo game, developers are constantly trying to outdo others that have come before them with seemingly unending lists of exclusive amenities offered to residents. The selection of easily accessible amenities and formal hotel service is perhaps one of the biggest reasons why hotel-condos are so successful, so the services at these residences attempt to meet any foreseeable desire. While the Shangri-La offers private limo service to take you anywhere in the city, Trump Tower does one better by offering two S-class Mercedes available 24/7 to whisk you away. Trump and Four Seasons both offer high speed direct-access elevators, and numerous condo-hotels offer exclusive private residence lobbies – often with sky-high views. Of course, the newest hotel-condos offer the most high-tech gym equipment and trendy fitness classes possible, and an astounding array of extras like heated pools, private lounges, doormen, and screening rooms.
An additional bonus of living above a world-class hotel is access to fine dining in keeping with a five-star reputation. While living at Trump Tower or the Ritz Carlton, you’re bound to be exposed to elegant restaurants featuring some of Canada’s top chefs cooking the latest in high end cuisine. The Hazelton is home to the highly-regarded ONE restaurant, and the Cosmopolitain offers Eight Wine Bar – a Toronto staple in delicious food and drink. Bisha, set to begin occupancy in 2014, will offer a huge choice with a 24hr cafe and a two-storey casual restaurant proposed in addition to a five-star rooftop restaurant. It’s also hard to forget the chic bars and lounges in hotel-condo hybrids that allow you to mingle with world-class guests.
With CMHC reporting best-ever Toronto condo sales in May, the market is showing no signs of slowing down. The heated competition means increasingly residents will have access to a dizzying array of offerings from the most luxurious and renowned hotel and condo brands. For those who want only the best, look no further – these combined condos offer the benefits of having direct access to hotel-inspired service, amenities and design – all without a check out time.
Interested in getting the hotel treatment? Give me a call at (416) 929 – 1660 or drop by my office on Wellington to learn about exclusive hotel-condo incentives.
What do you think about the combined hotel-residence trend?