In recent days, the Saigon River along the Ton Duc Thang arterial intersection (District 1, Ho Chi Minh City) has become even more "lit" when the Lake building of the Grand Marina Saigon project was officially taken over by Marriott. Not only is it the largest Marriott branded real estate complex in the world today, the project also surprised many people with its rental price of up to 200 million VND (8,500 USD)/month.
Marriott's butler team has arrived at the Lake Tower to operate the first luxury apartment building in Vietnam from October 2023.
Decoding record rental prices: Marriott quality, amenities and branded services
Owning an apartment in a hotel-branded project has long been a way for the rich and super-rich in the world to express their taste. That is why the rental price of these branded apartments is always at a new height, when the most "expensive" thing is the 5-star service and other intangible values that residents enjoy every day.
Internal facilities such as swimming pool and spa are operated and managed by a team of professional Marriott butlers.
Internal facilities such as swimming pool and spa are operated and managed by a team of professional Marriott butlers.
With Marriott branded apartments around the world, residents will enjoy privileges according to the international standards of this hotel group. Typically at Grand Marina, Saigon, residents will enjoy privileges from the smallest tasks such as delivering packages, mail, newspapers and magazines to the door; daily trash collection... to high-end services such as booking airline tickets, golf courses; Yoga and fitness instructors; babysitting or nanny arrangements...
However, what makes the difference of the "branded service" is the high-class lobby concierge service, and the team of butlers trained according to 5-star hotel standards from Marriott. Unlike the apartment reception team that only records information and provides services when requested by residents, the Marriott butler team is trained more than 250 hours of expertise each year to fully equip themselves with skills and knowledge to proactively provide personalized services. All are handled by a team of professional butlers with Marriott standards with the highest quality.
Thanks to that, every resident living at Grand Marina, Saigon can experience quality service at home, comparable to a "5-star hotel" when all management and operation stages are dedicatedly performed by Marriott's professional butler team.
A team of professionally trained butlers according to 5-star hotel standards are ready to serve the first residents of the Lake building.
Who will be the tenant?
As Ho Chi Minh City continues to develop and attract a large number of intellectual residents and highly qualified foreign experts, the need to improve the quality of life is increasingly emphasized. According to statistics, within a 3km radius of the Grand Marina Saigon apartment complex, there are currently more than 35 class A and B office buildings, equivalent to about 1,400 companies and 4,200 international experts and senior leaders of multinational companies.
It is clear that the supply of super luxury apartments is very low compared to the abundant demand of the elite living and working in the central area of Ho Chi Minh City. Therefore, the appearance of the first Marriott branded apartment in Vietnam not only breathes new life into the super luxury segment, but also shows that branded apartments, despite their high rental prices, still have good appeal if they meet residents' expectations of a luxurious, worthy place to live and meet all utility needs.
For example, the average rental price for a 90-square-meter Executive Suite room in a 5-star hotel in the city center ranges from VND10-12 million, and in some places it can even reach VND23 million (US$1,000) per night. Meanwhile, the rental price for a high-end serviced apartment at Intercontinental Saigon ranges from US$6,100 to US$7,700 per month.
Looking at cities with similar living standards such as Bangkok (Thailand), the rental price of high-end apartments ranges from 250,000 - 350,000 baht (170-240 million VND)/month. With a cost of 200 million VND, or 8,500 USD/month of Grand Marina, Saigon, this rental price is considered equal to other projects in Vietnam and in the region, located in the center of District 1, convenient to move to neighboring districts and satellite cities.
Above all, the luxury apartment segment like Grand Marina Saigon targets customers who are the upper class, celebrities, company owners, businessmen, CEOs of corporations, international companies... with high living standards and different enjoyment needs.
Elite residents are willing to pay a large amount to enjoy the exclusive amenities and intangible values that branded apartments bring. It is not only a comfort and convenience in life, but also a guarantee of success, social status and a different luxury lifestyle in the bustling Saigon.
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