Property-report.com, Nov 2006
Imagine a vacation home that caters to desires for space and resort-style luxuries – private dining, personal spa treatments, butlers, boat charters and bottles of champagne. Imagine traveling to exotic locales to spend a month in a hassle-free house. Then imagine guaranteed returns on your investment, flexibility and brand-name association.
The allure is undeniable, and it has led to a rising trend in mixed-use residences, developments that incorporate more than one type of accommodation – a hotel and serviced apartments or a hotel and vacation club.
The establishment in of these properties began back in the late 1980s, with the launch of the Amanpuri in Phuket. Laguna entered the fold soon after with villas and apartments, and the Banyan Tree, the Sheraton and the Allamanda Vacation Club have since boosted the trend.
The reasons for the rise in mixed-use residences are varied; lifestyle changes, desire for travel and improvements in communication among them.
“People like the idea of owning property in a number of attractive locations as well as the ability to choose from outright ownership and full-time residency to fractional ownership or even points-based vacation clubs,” said Daniel Collins of Infinity Hotel & Management Group, the managers of Tamarind Hills in Phuket. “The choices allow for various levels of financial commitment and return and offer options on owner usage.”
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