Last week, we were invited to be panelists for a break out session at the Las Vegas Condo Hotel Symposium. The buzz was all about the trend to combine luxury residences with an equally luxurious hotel either in primary cities or in resort destinations. One of the items emphasized by the developers was forming a strategic alliance with a major hotel brand to enhance the attractiveness and profile of the project. Of course, there is a premium to be paid for the big luxury brands such as St, Regis, Four Seasons, and Ritz Carton. But, it makes for an easier sell of the units.
They reported that this year the sales of properties from $5million and up increased by 11% and second homes are accounting for a large percent of these sales. Two of the hottest resort locales for second homes are Costa Rica and the Dominican Republic. It was predicted that Panama would be the next hot spot.
Alexandra Seigel
Branding & Marketing for Luxury Agents
Napa Consultants
This is a great blog. Great to see some posts about the Condo market too. Let us know how we could become more involved...or if you are ever looking to cover any condominium content. Be well and happy holidays.
Sincerely,
The Condo Blog
Posted by: Congo BLog | December 23, 2006 at 10:38 AM