The Suites to suit your dynamic lifestyle
Written By: Vaughn Alviar
Serviced residences are a cross between hotels and condominiums. You get the hospitality offered by hotels with the warmth of a home. They offer premium amenities and bigger living spaces, and can also be more cost-effective, especially as a long-stay option.
For business travelers and foreign nationals who stay over weeks or months, and international tourists who prefer self-guided vacations, serviced residences offer the ideal accommodation.
There has been a growing interest in serviced residences among locals, too.
Staycationers love the flexibility, including the ability to cook or do the laundry, even accomplish work remotely, whereas career-oriented individuals and executives would find the reliable servicing advantageous. And as Filipino homebuyers seek more upscale developments, these offerings could fit their taste.
If the idea of serviced residences piques your curiosity, you can check out The Suites at Torre Lorenzo Malate (TLM) in Manila. Premium property developer Torre Lorenzo Development Corp. (TLDC) partnered with world-renowned lodging owner-operator The Ascott Limited (Ascott) to make The Suites a part of TLM, a 45-story tower in the cultural heart of Manila which is vibrant and historic all at once—neighbors with malls and restaurants, diplomatic offices, financial institutions, schools, churches, historic spots and the famed Manila Bay.
The Suites, occupying Levels 12 to 20, opens on June 30 this year. It will feature 168 upscale studio and one- and two-bedroom units, with sizes ranging from 21.6 sqm to 61.6 sqm, bigger than some hotel and condo cuts. The units come fully furnished with a complete kitchen, plus a washer and dryer, as well as access to TLM’s premium amenities in productivity (discussion room, sky lounge and sky garden) and wellness (pool and lounge deck, fitness center).
The Suites is also set to be the first and biggest Ascott-managed property to open in Malate.
If you still question the quality of the service, consider the brand’s track record of customer service and operational excellence. The Suites will be part of a global network of over 133,000 units in more than 800 properties in the Americas, Asia Pacific, Europe, the Middle East and Africa. It is also a subsidiary of CapitaLand Limited, one of Asia’s largest listed real estate companies.
Interested in leveraging that powerful tandem of Ascott and TLDC? The Suites does not only launch to welcome guests, it also opens up to investors. Diversify your investment portfolio with The Suites.
Indicators point to serviced residences being a potentially lucrative business that can offer returns. Some have claimed that the Asian extended-stay market, which includes serviced residences, grew pre-pandemic and had remained resilient even amid the crisis, with many registering higher occupancy.
Ascott’s serviced residence business model itself proved strong despite COVID-19, owing to a big database of 97,000 corporate clients. As things return to normal, serviced residences will enjoy revenge travel, staycations and business.
Finally, investors receive the fruits of their investment immediately under the Residence Rental Program. It ensures quarterly rental yields on a hassle-free investment that you definitely shouldn’t miss.
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