These villas, prices for which have yet to be revealed, will be between 250 and 600 square metres and will be ‘branded residences’. This is a luxury housing model under high-end hotel companies’ names and which offers services and levels of comfort akin to those of luxury hotels.
Prices for branded residences are very high. Four Seasons, a pioneer of the concept, have a project in Madrid – 22 apartments priced at up to eleven million euros.
A different hotel group, Mandarin Oriental, has 34 branded residences in Barcelona. A 650-square-metre duplex penthouse sold for 40 million euros.
The Hotel Formentor will close for the season on November 15 and reopen on March 15 in 2025. The average price of a room per night is 1,200 euros. The commercial strategy pays particular attention to a high-spending North American clientele.
