Hotel / Resort Market
- Lodging brands changing or revising their business model
- Original focus on generating income through operating fees
- Recent focus on licensed use of brands in residential context in exchange for future share of real estate sales
- Expansion of hotel operator functions
- Extending beyond hotel to include rental of resort residences and management of other operating components at project including food and beverage, spa, golf club and marina.
- Investors primarily focused on luxury properties and distressed asset deal
- New interest in all inclusive resorts due to value proposition for consumer
- Customers and operators predominantly targeting all-inclusive and upscale properties
- Luxury Competitive Set at $400 ADR with 60% Occupancy and close to $250 RevPAR in 2010
- Numbers in 2011 are up 10% to 20% depending on property and jurisdiction
- Total Competitive Set at $200 ADR with 70% Occupancy and close to $150 RevPAR in 2010
- Numbers in 2011 are up 5% to 10% depending on property and jurisdiction