These affordable luxury hotels are making progress in the region as they launch a flurry of new products across some of its most popular locations.
CitizenM will expand its footprint in Kuala Lumpur and Shanghai in the next year. The hotel pioneered in European cities with its hip vibe and affordable room rates. Yotel, a modern luxury hotel that puts everything at guests’ fingertips, is focusing on Singapore. The Orchard Road Hotel will launch in September, and the first Asian airport will open in 2019 at Changi Airport in Singapore.
Azerai is a new hotel brand from legendary hotelier Adrian Zecha, who created the Aman hotels with their gilded towers. Azerai debuted in Luang Prabang, Laos, in May. Rooms cost US$250 per night.
Enjoy a sweet stay at a better price.
As the concept of luxury becomes more democratic, affordable luxury hotels have become increasingly common. According to Euromonitor’s report, affordable luxury is a growing industry as a result of the expansion of mass-market accommodation and the de-premiumization of the luxury market.
The concept of luxury has changed. It’s not just about razzle-dazzle extravagances like room service by sharply dressed servers or expensive spa treatments. Luxury is about unique experiences and well-designed spaces that allow guests to unwind while still being connected to the world outside, says Frank Sorgiovanni.
Due to the increased disposable income of consumers around the world, they are more willing to travel and spend money on it. This is evident in the popularity of hotel brands like CitizenM and 25 Hours.
“At the time, travelers have become more savvy in their spending habits so any hotel which can offer all creature comforts such as orthopaedic beds and walk-in showers within a compact space at a lower price than a nearby luxury or upscale property is a very attractive alternative.” adds Sorgiovanni.
Expanding East
As a region, Asia is attractive to luxury brands because of its large market and booming middle class. Many low-cost carriers cater to this group.
Home-grown brands are building their presence in the new market of affordable luxury. Azerai is not the only brand in this space. Ovolo, a “luxury boutique” from Hong Kong, and Tribe, an Australian hotel that promises “an edited experience,” are also available. Both brands cater to a tech-savvy audience who wants a bit of luxury but without the high price tag.
Sorgiovanni says that there is no shortage of hotels offering great value in Asia. However, hotel guests’ expectations have also increased in this area. It’s not just about being reasonably priced. “Well-traveled travelers who have been to Europe or the U.S. expect the same amenities and experiences that they had overseas.”
