Mandarin Oriental plans for major growth in luxury vacation rental business
One of the most lavish hotel companies in the world is about to give a major boost to its exclusive mix of ultraluxury vacation rentals.
Mandarin Oriental now has full ownership of its small platform of luxurious vacation rental homes, company leaders announced this week at the International Luxury Travel Market (ILTM) in Cannes, France. The company plans to operate this business, originally known as Mandarin Oriental Private Homes, independently and under a new name: Mandarin Oriental Exceptional Homes.
"Since launch, these exquisite private homes have become a natural extension to the Mandarin Oriental brand, providing us with an opportunity to enter new destinations and introduce unique experiences to our fans around the world," Laurent Kleitman, group chief executive of Mandarin Oriental, said in a statement ahead of an ILTM media presentation. "Each hand-picked luxurious home fits naturally into our portfolio, and in many cases, their locations provide opportunities for our guests to combine a hotel stay with a villa experience and explore more of the destination in different ways — all with the assurance of Mandarin Oriental's award-winning brand."
Mandarin Oriental's vacation rental platform isn't exactly coming for Airbnb's crown as the world's largest vacation rental platform. The Mandarin offering launched in 2022 with eight privately owned homes and has since grown to 25. Mandarin Oriental wants to see that figure grow to north of 100.
The expansion focus will be on summer and winter leisure destinations in the Mediterranean, the Alps and various locales in North America. Current locations for Mandarin-affiliated vacation home rentals include the Cotswolds and London in the U.K., as well as the south of France, the Spanish vacation hot spots of Majorca and Ibiza, Bali and the luxe Los Angeles neighborhood of Bel Air.
Mandarin Oriental Exceptional Homes can also fuel growth in the U.S., where Mandarin Oriental has just three hotels. But Kleitman told reporters at ILTM this week that more announcements are coming.
"This market is, of course, a critical one," he added of the U.S.
One of the competitive advantages of a Mandarin Oriental-affiliated vacation rental is that the company strictly reviews listings and holds them to the same high standards as an actual Mandarin Oriental hotel. Each home is serviced by a Mandarin Oriental-trained team with extensive local knowledge. Guests have a dedicated concierge during their stay as well as private, on-demand culinary experiences from an in-house private chef. Homes receive daily housekeeping during a stay, and guests can also enjoy luxurious hotel-like amenities such as bathrobes.
Of course, this kind of service comes at a hefty price: Rates for Villa Infinity, the Bel Air estate on Mandarin Oriental Exceptional Homes, start at $42,900 for four nights. A more affordable option is the platform's Masseria Pistola farmhouse in Puglia, Italy, which sleeps upward of 20 guests and starts at 13,000 euros ($13, 750) per week.
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