Langham Hospitality Group Appoints Rico Picenoni as Global Head of Residential to Drive Growth in Mixed-Use Developments
Langham Hospitality Group (LHG), a prominent player in the global hospitality sector, has taken a decisive step towards enhancing its offerings by appointing Rico Picenoni as its new global head of residential. This newly established role underscores the Group’s commitment to strengthening its design, branding, and management of private residences amid an escalating demand for mixed-use developments that seamlessly blend hotel and residential functionalities.
In recent years, the hospitality industry has witnessed a notable trend towards mixed-use developments. These projects are increasingly popular for their dual capabilities: they not only provide a high-quality hospitality experience but also cater to individuals seeking luxurious living spaces integrated within a vibrant community. Bob van den Oord, CEO of Langham Hospitality Group, articulated the strategic importance of this approach, stating, “The rise in mixed-use developments where we can offer hotel management and branded residence services in conjunction allows us to serve our clients more holistically. It also enables consumers to not just experience our hospitality during their travels, but in the places they choose to call home.”
The appointment of Picenoni is particularly significant given his extensive background in both branded residence and hotel operations. Van den Oord emphasized Picenoni’s qualifications, noting his “rare blend” of expertise. This dual perspective positions him as a vital leader in steering the Group through this essential growth area. His vast experience in the field will be pivotal as Langham seeks to navigate the challenges and opportunities within the rapidly evolving residential market.
Before joining LHG, Picenoni spent a considerable part of his career at Savills in London, where he was responsible for leading the branded residential consultancy team. His tenure at Savills honed his skills in overseeing advisory mandates across over 50 countries, with a cumulative development value surpassing billion. This robust portfolio demonstrates not only his acumen in handling large-scale projects but also highlights his adeptness at strategic consultancy in one of the most competitive sectors of real estate.
Picenoni’s professional journey also includes significant positions at Accor, where he oversaw residential and extended-stay developments across the Middle East and Africa. He was involved in pivotal project feasibility and assessment roles, affording him a comprehensive understanding of the operational intricacies and market dynamics vital for successful project execution. At Seven Tides Hospitality, Picenoni served as asset manager, overseeing properties operated by major brands such as Minor Hotels Group and Mövenpick. His operational insights, cultivated through experiences with renowned hospitality entities like Rosewood Hotels & Resorts in the United States and Starwood Hotels & Resorts in the UAE, equip him with a deep understanding of the service levels essential for branded residences.
Academic credentials further bolster Picenoni’s profile. He is a graduate of Ecole hôtelière de Lausanne, a prestigious institution known for shaping leaders in the hospitality industry. Additionally, his qualifications span real estate investments, asset management, and negotiation techniques, which are increasingly indispensable in the competitive landscape of residential hospitality.
Reaffirming LHG’s expansion strategy, particularly in the Middle East, Picenoni will be based permanently in Dubai. This decision aligns with Howard’s vision for the region, where the Group plans to debut its first hotel in 2029. The Middle East, with its dynamic real estate market and rising tourism sector, offers fertile ground for mixed-use developments. The presence of a seasoned leader like Picenoni in this strategic market is poised to attract discerning investors and consumers alike, eager for innovative hospitality solutions.
As Langham Hospitality Group moves forward under Picenoni’s leadership, the company is not only shaping the future of its residential offerings but is also setting a precedent in blending luxury hospitality with residential living—an intersection that promises to redefine modern living experiences.
In conclusion, Rico Picenoni’s appointment as global head of residential marks a significant milestone for Langham Hospitality Group as it ventures into a future replete with potential and innovation. The rising interest in mixed-use developments presents a unique opportunity for LHG to capitalize on the convergence of hospitality and residential living, reaffirming its status as a leader in the industry.
Tags: #BusinessNews #RealEstateNews #UAE