On May 9, Capital Radio interviewed Miluca Armengol, founder and CEO of Ivory Escapes. The interview was conducted by Mabel Calatrava in the program Reference2, the only radio program specialized in networking.
In the program were interviewed top managers and entrepreneurs from diverse companies. Miluca disclosed the story of how the company started in the midst of the real estate crisis in 2008. In their family they had years of real estate experience. They were owning properties fpr sale in a truly complicated time.
If you want to hear the complete interview, click here:
On the other hand, they detected a gap in the market, which did not cover the demanding needs of expatriates who came to Madrid for periods shorter than 1 year, looking for charming properties with hotel services included.
That’s when they decided to fit both pieces together. They opted to reform those properties with modern and unique projects to offer real homes, urban nests as they began calling them. The first two properties were former doorman apartment in Barrio Salamanca, which were increased by another series of properties to reach the current number of 115 apartments, managed by a staff of 27 employees.
Although initially there were small apartments (1 and 2 bedrooms), currently have floors of up to 5 bedrooms to attend a varied clientele.
These are houses with soul, with life of its own. Each house is unique. You can find different furniture with history, objects of different origin, but always within a very special halo, that shows the label IVORY ESCAPES.
Undoubtedly, the added value is put by the department of general services and maintenance that treats each and every single client uniquely, providing an extraordinary service to both, the tenants and the owners.
Expats represents 70% of Ivory Escapes clientele. In most of the cases they are senior managers coming from abroad to work in multinational companies for periods shorter than 1 year. Last year the average stay was seven and a half months. This type of customer cannot stay so much time in a hotel and cannot access the traditional rental market. Other two segments are diplomatic representatives and MBA students of international schools, who come to Madrid for a period between 9 and 18 months.
For those segments Ivory Escapes represents an optimum solution, offering fully equipped apartments, ready to live. You have more privacy than in a hotel as you do not have to go through the reception. Wide selection of service adapts to each single person. Some clients do not want more than a general monthly check up of their apartment, but the vast majority wants cleaning service 2 or 3 times per week. Some clients ask for additional services, as for example catering, baby sitting… Ivory Escapes offers all the hotel services, but tailored to each individual client.
The interviewer asked about the most impressing property they have in their portfolio. Miluca replied it is a very difficult question since they have a portfolio with very unique properties. One apartment that could be mentioned due to uniqueness of the building, is a 300 sqm mansion in Chamartín, which was in the past was a vocational house of a noble family in Madrid. This palace has now been surrounded by buildings, rehabilitated and transformed into 3 apartments, each of 300 sqm. Miluca said each property is different and unique.
From IVORY ESCAPES we would like to thank to RADIO CAPITAL for the opportunity to participate in the program Reference2.
This post is also available in: Spanish