Langham Hospitality Group Appoints Rico Picenoni as First Global Head of Residential
In a significant development within its corporate structure, Langham Hospitality Group (LHG) has introduced Rico Picenoni as its inaugural global head of residential. This newly minted position is strategically designed to enhance the company’s capacity for the design, branding, and management of private residences, reflecting a growing trend in mixed-use developments that blend hotel facilities with permanent living spaces.
With the global real estate market currently witnessing an upswing in such hybrid property developments, this move comes as LHG seeks to establish a pivotal role in this expanding sector. Bob van den Oord, chief executive of LHG, articulated the motivation behind this appointment, stating, “The rise in mixed-use developments allows us to furnish hotel management and branded residence services in conjunction, enabling us to better serve our clients holistically. This evolution affords consumers the unique opportunity to experience our hospitality not only during their journeys but also in the very locales they call home. Rico’s exceptional blend of expertise in branded residences and hotel operations positions him uniquely to spearhead this critical area of growth for the Group.”
This appointment signifies LHG’s increasing commitment to the Middle East, a region where luxury tourism and real estate converge. Notably, the company is set to launch its first hotel in the Middle East in 2029, with Picenoni establishing his base of operations in Dubai—an urban landscape characterized by its architectural marvels and vibrant real estate market.
Rico Picenoni: A Profile of Expertise
Rico Picenoni brings a wealth of experience and an academic pedigree to his new role, being a graduate of the prestigious Ecole hôtelière de Lausanne. Alongside his hospitality education, he possesses substantial qualifications in real estate investment, asset management, and negotiation—skills that are critically relevant to his responsibilities at LHG.
His professional journey encompasses significant operational roles with both Rosewood Hotels & Resorts in the United States and Starwood Hotels & Resorts in the United Arab Emirates. This exposure has endowed him with firsthand insights into the essential support services that bolster residential projects associated with renowned hospitality brands.
Before his appointment at LHG, Picenoni led the branded residential consultancy team at Savills from London, where his global practice group managed advisory mandates across more than 50 countries with an estimated total development value exceeding an impressive US billion. This experience has not only underscored his expertise in the branded residential sector but has also armed him with a comprehensive understanding of the market’s complexities.
Furthermore, his previous tenure at Accor saw him manage residential and extended-stay development initiatives throughout the Middle East and Africa. In this role, he also engaged in senior feasibility and project assessment tasks—further honing his skills in comprehending market demands and project viability.
Prior to his work at Accor, Picenoni served as an asset manager for Seven Tides Hospitality, where he oversaw residential properties operated by notable international hospitality companies such as Minor Hotels Group and Mövenpick. His multifaceted experience across various hospitality brands positions him as a linchpin in meeting the evolving needs of luxury residents and tourists alike in today’s competitive environment.
Implications for the Future
With Luis Picenoni at the helm of its residential division, LHG is poised to navigate the complexities of the rapidly developing landscape of mixed-use developments, particularly in emerging markets. Given the dual pressures of increasing consumer expectations and evolving market dynamics, his leadership will be crucial in differentiating LHG in a crowded marketplace.
The integration of hospitality and residential services represents not merely a trend but an evolving demand that could redefine the way luxury living is experienced across the globe. As LHG solidifies its footprint, positioned both in luxury hotel management and branded residential offerings, it could become a bellwether for future developments in the hospitality industry.
As Langham Hospitality Group looks towards an ambitious future under Picenoni’s stewardship, the industry will be watching closely to see how this commitment to innovative living solutions unfolds.
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