If you’re considering the purchase of a hotel investment, these 5 cities show positive trends in retail growth, which indicates more discretionary income, and are among the top 15 markets for higher occupancy rates YTD.
1. Los Angeles
3. New York
While Millennials are showing traction towards indie hotels (for a unique experience) the demand is higher for branded hotels. Demand is above supply with the highest growth shown in the upper upscale segment:
Upper Midscale: 43%
Upper Upscale: 51%
The long view: hotels have shown 10+ percent NOI growth for the past 5 years in a row and an average 20% ADR growth since 2010. The arbitrage between Cap rates & the 10-Year Treasury is about 500 bps, and is expected to continue into mid-2018, making hotels an attractive investment!
If you are interested in a feasibility study of a specific market segment, please contact me for a proposal.
Sources: Marcus & Millichap Research Services, Smith Travel Research, LVCVA
Image Source: Freeimages.com
Whatever impresses clients today will be considered boring tomorrow. Take an old “Art Deco” hotel and modernize the interior, like this lobby at The Essex House in South Beach, and you will have reinvented yourself for the present time.
By scanning the remote environment for emerging trends, you can pinpoint what customers want and reinvent yourself time & time again. Because the only way to thrive in an overly-saturated hospitality market, like South Beach, is to evolve. The only thing you can always expect to be constant in life – is change.
A hilarious grammar lesson from puppets.
I’m sharing this because I see these errors all the time! Too funny.
Miami is such a beautiful place to "live, work, play"
Take a look at the amazing ideas you can incorporate into building your ideal home.
Click on the green button below the illustration to see our design book.
Posted in Real Estate Investing
Tagged apartment, architecture, condo, designs, features, Florida, home, house, Houzz, interior design, Miami, real estate, Realtor, USA
(increasing mortgage rates) “…may have taken some of the steam out of the market.”
After hitting a 3.5 year record high, home sales took a dip of 1.2% in sales to an annual rate of 5.08 million home sales in June. According to Lawrence Yun, Chief Economist for the National Association of Realtors, increasing mortgage rates “may have taken some of the steam out of the market.”
Nonetheless, there is still a lot of demand in most US cities. The problem lies in the most expensive regions: Hawaii, California, and the New York City metro area:
“We’re still dealing with a large pent-up demand,” he said. “However, higher mortgage interest rates will bite into high-cost regions of California, Hawaii and the New York City metro area market,” says Yun.
Foreclosures and short sales have taken a back seat in the market, accounting for 15% of existing home sales. With these distressed sales clearing the market, home sellers can expect a greater return on their properties as the median home price has increased 13.5% since June, 2012 – a consecutive gain in median home prices for 16 months!
If you are thinking of selling, there is a lot of demand for what buyers consider “good” homes and the conditions (demand) is continually improving, aside from the interest rate increase. But seriously, were we thinking that they’d actually stay that insanely low forever? Seriously?
Posted in Real Estate Investing
Tagged 2013, CNN, current, distressed, home sales, home value, increasing, interest rates, June, market conditions, Miami, money, mortgage, real estate, US
Ever wonder what it’s like to live in downtown Miami? Want to travel here but are limited by financial resources? Well thanks to online videos you can take a virtual tour practically anywhere in the world, and the best part is – it’s practically free (aside from the cost of an internet connect and a device: pc, smartphone, etc.)
1. Let’s take a trip downtown.
2. Let’s have a look at some new construction coming to Brickell.
3. Not only is Miami already a very exciting place to be, but it is going to become even more amazing! Here’s a look at the $10 Billion Dollar Boom Coming to Miami!
4. While we’re downtown, let’s go see Bayside Marketplace.
5. A trip to Miami wouldn’t be complete without visiting the world renowned South Beach!
For more views of this fun and exciting city, visit my real estate image board at http://www.pinterest.com/johnwtanner
Imagine living in a condo where you have a private pool built into your balcony. The Porsche Design Tower is redefining the luxurious pleasures of South Florida living.
Click here to learn more about the Porsche Design Tower
This one’s for the Marina Aficionados!
Old World – Surrounded by New Lifestyle
(This is the neighborhood where my character America Riley lived…Faithfully)