Additionally, consumer fashion brands such as Armani, Versace and Bulgari have moved into the hotel area as a means of brand extension.

Hotel branded property sales originally started with condo-hotels selling rooms in the US and currently the popularity of the concept has led to 20% of all US hotel rooms under development last year being condo-hotel projects.

In the UK, Guest-invest recently started selling and are expanding into Europe and last year Irish developers Roebuck International launched The Residences at The Ritz-Carlton in St Lucia following a link up with the hotel brand.

Founded in 1994, Banyan Tree Hotels & Resorts launched its flagship resort in Phuket, Thailand, and are credited as being pioneers in the boutique resort and spa industry. In 1997 they sold their first residences in Phuket and Bintan and demand was high enough that this year they are offering residences for sale in Bangkok in Thailand, Lijiang in China, Bintan in Indonesia, and the Seychelles.

On a recent trip to Dublin, Richard Skene, assistant vice president at Banyan Tree Residences, reports that while the majority of buyers were hotel guests who initially chose to visit the Banyan Tree hotels, a number of high-profile Irish buyers have invested and they have seen a lot of interest from the Irish market.

For buyers, branded hotel residences are holiday homes and property investments and hotels groups provide initial capital at the expense of reduced future cash flow.

Banyan Tree Residences offer buyers the chance to invest in their own signature villa, townhouse or apartment.

This property then is incorporated into the inventory of the resort and buyers receive an annual guaranteed return of 6% per annum for six years, with options to renew or share in revenues generated by the property.

Owners are also entitled to 60 days' complimentary use of their residence every year, membership at the exclusive Banyan Tree Residence Club and privileged access to the Banyan Tree Private Collection - Asia's first Destination Club.

The Banyan Tree Residences were launched in Europe this month in London and will be launched into the Asian market in Hong Kong on 17 June. Oakhall International has been appointed the sales agents for the Banyan Tree Residences and prices start from Euro370,333.

For further information contact Oakhall International, 0044-20 7590 7790;

www. oakhallpropertysource. com; www. banyantreeresidences. com.