Non Hospitality Branded Residences and Sports Franchises
Okay we apologise for the clickbait there are not currently any Arsenal FC Branded Residences, maybe this article should have been posted on April Fools day.
However it does lead to a very interesting question on whether sports franchises of the likes of Arsenal FC, New York Yankees or Dallas Cowboys are more equipped and experienced than a luxury fashion brand or automative company when offering their mark for a branded residence.
Could we really see Dallas Cowboys Residences and Retreat, Residences by New York Yankees, or Arsenal Residences?
SPORTS FRANCHISES ARE HOSPITALITY COMPANIES
Sports teams provide hospitality to thousands of paying guests and members on every match day and throughout the year. They offer entertainment and a variety of catering choices, ranging from quick bites to gourmet dining before and during the game. Many clubs have exclusive lounges and private boxes to cater to affluent members and VIP guests.
INTERNATIONALLY KNOWN
The most renowned sports franchises are recognized worldwide by name, making any project associated with them instantly identifiable across the globe.
MARKETING EDGE
The substantial brand recognition of these franchises guarantees that any real estate project initiated would garner extensive press coverage and public attention. Both the developer and the brand would undoubtedly generate significant interest in the media.
The project launch would be a highly sought-after event, with former and current players participating, as well as top names becoming brand ambassadors for the project, and possibly even owning a residence within the building.
CONSTRUCTION AND PROJECT MANAGEMENT EXPERTISE
Sports teams boast impressive stadiums, state-of-the-art training facilities, on-site dining options, and bars. Renowned architects and designers have been hired to create these facilities. Additionally, extensive facility management teams are in place to uphold the highest standards of maintenance on a daily basis.
TARGET MARKET
It might pose a challenge, as the project possibly would only attract supporters of that particular team. However, Arsenal FC has 1.5 million members globally, New York Yankees have 8 million, and Dallas Cowboys have nearly 8.5 million, naturally millions more would have a heard of these names.
How feasible would it be for a 250-unit residence to be fully sold, especially if the development offered exceptional amenities and services expected from a luxury branded residence?
To further support the potential success of this venture, in 2007, after Arsenal relocated from their Highbury stadium to a new one, the historic stadium was transformed into 650 apartments known as Highbury Square, which were individually sold for prices ranging from 400,000 GBP to 800,000 GBP, and were quickly sold out.
IN CONCLUSION
The branded residences sector is experiencing a surge in new participants. Should sports franchises not also consider entering this market? Are they as well-equipped or even better than other non-hospitality brands to offer non hospitality branded residences?
Is their brand appeal strong enough? Are there significant opportunities for both property developers and the sports brands themselves?
We firmly believe the answer is a resounding YES!! What are your thoughts on this?
BRESI claims no copyright to the images used or has no intention to infringe on any naming rights. This article is intended for insight and opinion only.
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Branded residences & sports franchises. Are they more equipped to offer their mark for a branded real estate development, than other non hospitality brands?