These affordable luxury hotels are progressing in the region as they launch new products across some of its most popular locations.
CitizenM has already expanded 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, focuses 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 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 $250 per night.
Sweet Stay, Better Price Tag
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 due to the democratization of luxury and the expansion of mass-market accommodation options.
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 worldwide, 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 savvier in their spending habits, so any hotel which can offer all creature comforts such as orthopedic beds and walk-in showers within a compact space at a lower price than a nearby luxury or upscale property is a beautiful alternative,” adds Sorgiovanni.
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 Hong, 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 without a high price tag.
Sorgiovanni says there is plenty in Asia of hotels offering great value. However, hotel guests’ expectations have also increased in this area. It’s about more than just being reasonably priced.