Penny Town

Nazare, The Encounter Between The Land And The Sea

2008-05-23T02:41:00.000-07:00

Nazares council counts with three famous beaches: Beach of Nazareth, Beach of the North and New Beach.

In that coastal area of the council, it is possible to practice nautical sports, as the fishing, surf and body-board. But in Nazare you can take some walking time or use the bicycle to know the immensity of the landscapes.

The Municipal District of Nazare has three freguesias: Nazare, Famalicao and Vale dos Frades, with many attractions that promise to enchant the tourists.

The freguesia of Nazare is also a place of history. There, you can see the urban monumental group and the landscapes of Nazare, like the House in the Street of the Fishers, the Chaby Pinheiro theatre, the Old House of the Camera or the Old Fountain of the Town. The Pillory of the Pederneira is also one of the attractions.

Other interesting sites are the Chapel of Nossa Senhora dos Anjos, the Fort of Sao Miguel Arcanjo, the Church of Nossa Senhora de Nazare, the Church of the Mercy of the Pederneira and the Chapel of Nossa Senhora de Nazare.

The breathtaking landscape and the fabulous views can be admired from the viewpoint of Sitio, 110 meters of altitude. This place is known by being one of the most beautiful marine panoramas of Portugal.

In Famalicao, the visitors can enjoy several tourist options, as Sao Giao Church, Jazida das Pedreiras, Tower of D. Framondo and Parochial Church of Nossa Senhora da Victoria.

The wild beauty of the Mountain of Pescaria and of Salgados Beach is the privileged scenery for the practice of nature sports and of free air.

In Vale dos Frades, you can see the Church of S. Sebastiao, rebuilt in 1866 and later in 1965. Other beauty of the freguesia is the Fountain of the Lovers, built in 1932, close to the Quinta do Campo.

The garden of the train station of Vale dos Frades that won some trophies for the most beautiful garden and better treaty of all of the stations, is another of the great attractions of the freguesia. The beauty of the landscape is still exalted through the panels of allusive tiles to Nazares beach, Alcobaca and Vale dos Frades.

Vale dos Frades is a town where a small minority follows the tradition of the agriculture.

Nazares council keeps good moments of amusement and friendship between its population and their visitors. Nazare is still the perfect place to find a series of bars that promise to make your visit more pleasant and cheerful.

Hope to meet you soon in Nazare!

[Via - Nazare, The Encounter Between The Land And The Sea]

Appreciating Hawaii, The Place I Call Home

2008-05-23T02:40:00.000-07:00

Why is it that many people think of Hawaii as the perfect location both for a vacation and to reside in?

Being born and raised in Hawaii, I have thought about the above question more than a few times. It was not until I traveled abroad that I realized how great these islands really are. Like every where else, life in Hawaii has its ups and downs, but altogether I have come to appreciate the place that I call home.

The Sunrise and Sunset

Much like many things in life, the perceived value of objects goes down when they are always readily available to you. It is not until these things are taken away that you understand just how precious they are.

If you have ever watched the sunrise in the wee hours of the morning on the top of Mount Haleakala over on the island of Maui, or even watched the sunset while on the west coach of any of the islands while you are being extra careful not to blink for fear of missing the elusive green flash, you know that these events are truly breathtaking. However, if you are able to see them just about everyday, you may take them for granted.

Not too long ago, I was able to visit the great state of New York. New York City was definitely a sight to see. The bright lights of Times Square with its countless shops and crowds of people was a lot to take in. Being cultured with Broadway shows and tours of museums and historical landmarks was exciting also. However, it is highly noticeable that the smog in the air forms a blanket where the sun cannot shine through well enough to fully adorn itself while it rises or sets. Also, the stars do not shine as bright as they do back at home. In fact, you were fortunate if you could count the stars in the sky and they numbered more than the number of fingers on your hands.

As great and majestic as New York City is, nothing is really as spectacular as a Hawaiian sunrise or sunset. If you have ever had the chance to lie on the beach in the evening after a day of surfing, and gaze into the sky as the sun appears to sink beneath the ocean, you know my sentiments exactly.

The Country and the City

Honolulu city lights do not quite match up to the city light of Las Vegas or Times Square, but Downtown Honolulu has a city-like atmosphere nonetheless. The wonderful thing about living on Oahu is having the city and the country so close together that it is like having your cake and eating it too. When I get tired of the city and the hustle and bustle of town, old Haleiwa town is just a couple of hours away where I can relax and enjoy a slower pace as I gather my thoughts at the beach.

Those were just a few of the countless things that I have come to appreciate about Hawaii. It is interesting when you are able to gain a different perspective of your normal and routine life. It really does not matter if you live in Hawaii or Hong Kong; there is much to be appreciated about the different places that we each call home. I now fully believe in taking time to smell the coffee, so to speak, so that I never take for granted the wonderful things about the place that I call home.

[Via - Appreciating Hawaii, The Place I Call Home]

The Gallery Hotel Haifa

2008-05-23T02:36:00.000-07:00

The Gallery Hotel Haifa is an exclusive boutique hotel offering a unique combination of art, spectacular views and inspiration. The hotel belongs to the Raz Hotels Management Ltd. chain of theme hotels, all designed to offer guests a perfect hospitality experience, from environmental and visual design, room accessories and comfort to the most efficient, top quality level of service.

The hotel is located in the heart of Haifa City, where the deep blue of the Mediterranean and the rich greens of Mount Carmel become an integral part of an overall artistic and cultural experience. Combined with intimacy and points of interest the components blend together to create a sense of calm, serenity and peace for guests, a pleasurable experience further enhanced by meticulous attention to comfort and esthetics in all rooms.

The hotel's excellent situation makes it an ideal base for sites and attractions in town, many of which are within walking distance or only a short drive away, as well as being a convenient starting out point for tours of the entire northern region.

[Via - The Gallery Hotel Haifa]

Giorgio Armani Tours Armani Hotel Site at The Burj Dubai

2008-05-23T02:35:00.000-07:00

DUBAI, UAE -- Emaar Properties' iconic Burj Dubai development received its most high profile visitor to date when celebrated Italian fashion designer Giorgio Armani was given a personal tour by Emaar's Chairman Mohamed Ali Alabbar on Sunday, December 4. The Burj Dubai, which is anticipated to be the tallest tower in the world when completed in 2008, will feature one of the world's first Armani Hotels.

In May 2005, Emaar signed a long-term license with Giorgio Armani SpA for the development of a unique worldwide collection of ten luxury hotels and resorts. With this agreement, Emaar Hotels & Resorts LLC was created to oversee the construction, management and operations of the Armani Hotels and Resorts. Planned openings will include Milan (Spring 2008), London and New York among other international destinations.

The collaboration is the result of this shared vision of Emaar and Giorgio Armani to create one of the world's leading "lifestyle" hotel and resort developments.

Emaar's Chairman Mohamed Ali Alabbar said: "It is an honour to be able to work with one of the world's most iconic designers in realizing this ambitious project. There could be no better setting for one of the first Armani Hotels than the Burj Dubai which, when finished, will define a city and be a global beacon synonymous with style and luxury."

Giorgio Armani said: "This marks the beginning of a new chapter in the Armani story which will bring to life the Armani philosophy of style and design in a collection of exclusive hotels and resorts. Today, more than ever before fashion has expanded to encompass our way of life, not just how we dress, but where we live, which restaurants we eat at, where we holiday and which hotels we stay in."

"I strongly believe that for those people who enjoy the Armani fashion and home furnishings collections; there will be a real enthusiasm for the possibility to now stay at an Armani hotel or resort. This continues our ongoing strategy of building the Armani universe into a comprehensive lifestyle brand," he added.

When completed the Armani Hotel Dubai will feature 160 guest rooms and suites, a variety of restaurants and a spa covering more than 40,000 square metres. Adding to the luxury of the hotel are the 144 luxury residential suites which will be personally designed by the celebrated Italian designer and will feature his home furnishing line, Armani Casa.

Note to Editors

About Emaar Properties PJSC:

Emaar Properties, the Dubai-based Public Joint Stock Company, is listed on the Dubai Financial Market and is part of the Dow Jones Arab Titans Index. Emaar is the No. 1 real estate company in the world in terms of market capitalisation which is over US$40 billion. The company announced that its net profits for the first nine months to September 30 climbed 255 per cent, to a record AED 3.690 billion. The figures represent a substantial increase on the AED 1.039 billion in the same period a year ago. The company also reported an impressive 77 per cent rise in revenues to AED 6.757 billion, from AED 3.808 billion for the same period in 2004.

The company has witnessed tremendous growth since its inception in 1997 and boasts a rapidly growing tenant base with more than 12,000 homes handed over to satisfied customers to date. Currently, it has several major real estate projects under various stages of development in Dubai including Arabian Ranches, Dubai Marina, Emirates Hills, The Views, The Meadows, The Springs, The Lakes and The Greens. The company also owns and manages the Gold and Diamond Park.

Emaar has started construction on its most ambitious project to date, the Burj Dubai, which comprises the Burj Dubai - the tallest tower in the world when completed in 2008, The Dubai Mall, Burj Dubai Boulevard, The Lofts, The Old Town, The Old Town Island, The Residences, Burj Views, man-made lakes, landscaped parks and gardens. The company has joint ventures and projects across the region covering Saudi Arabia, Egypt, Syria, Morocco, India and Pakistan. Recently the award winning property developer announced plans to aggressively expand the retail sector with investments of over AED 15 billion to develop approximately 100 malls in the mega emerging markets of the Middle East, North Africa and the Indian subcontinent. In addition, Emaar has teamed up with Giorgio Armani S.p.A to build and manage 10 Armani hotels and resorts across the world; an Armani hotel will feature in Emaar's flagship Burj Dubai tower.

While continuing to actively pursue expansion in its core business of innovative, high quality real estate development, Emaar has diversified into related business lines to further build value for its 41,000 shareholders, which includes the Government of Dubai. Emaar owns and manages two subsidiaries - Dubai Bank, focused on retail and commercial banking and EMRILL, a joint venture with the UK-based Carillion which provides innovative property and facilities management services. Emaar is also the majority shareholder in Amlak Finance, UAE's leading Islamic home financing company.

[Via - Giorgio Armani Tours Armani Hotel Site at The Burj Dubai]

Beatles Tours and Hotel

2008-05-23T02:33:00.000-07:00

A real "Ticket to Ride" -- fans can actually take a "Magical Mystery Tour" and see places they'll remember from the lives of John, Paul, Ringo and George

Travel to Liverpool in 2008 and you will not only be able to visit famous Beatles sites such as the Cavern Club on a guided tour, you can even stay in the Hard Days Night Hotel.

The hotel opens in February with some gala packages. While in Liverpool, Baby Boomers and all Beatles fans can discover the world the Beatles grew up in by taking a Magical Mystery Tour. It is conducted in a bus identical to the one used in the 1967 film. This tour, operated by Cavern City Tours, visits many of the places that fans link to John, Paul, George and Ringo. It shows where they grew up, and where they formed the band that would take the pop world by storm.

The tour includes some of their childhood homes, schools and places that inspired some of their most memorable songs like Penny Lane and Strawberry Field. A professional guide tells the story as you travel around the city and its suburbs.
Exhibit Narrated by Lennon's Sister

Another way to get a sense of the Fab Four magic is via the “Beatles Story,” an exhibit and audio tour located at the city’s historic Albert Dock. It is a visitor attraction that takes visitors on an atmospheric journey into the life, times, culture and music of the Beatles. Narrated by John Lennon’s sister, Julia, it covers the Beatles as they polish their act in Hamburg, return home to play the Cavern Club, and go to London’s Abbey Road studios to record their historic albums.

As for the brand-new Hard Day’s Night Hotel, it is a four-star lodging in the revitalized Liverpool city center. To celebrate the February opening, it is offering two different weekend special packages.

The first “luxury bedroom” package costs £460 (about $935 US) based on 2 people sharing. It covers two nights in a “luxury room” and includes a complimentary glass of Champagne, a three-course dinner in the Brassiere Restaurant on the first night, a live Beatles tribute band in the Zygmant Suite, and a full English breakfast on both mornings.

The second is the “deluxe bedroom” package for £510 (about $1 036 US) based on 2 people sharing. It also is for two nights and includes an upgrade to a “deluxe” room, dinner in Blakes Restaurant on the first night, and everything else covered in the first package.

If you really believe in yesterday, you might think about going to Liverpool in August, when the city holds an annual weekend-long festival attracting an international audience of thousands who pay tribute to the Beatles. For details, go to the official Liverpool Web sites's Beatles pages.

[Via - Beatles Tours and Hotel]

The Ultimate Caribbean

2008-04-17T01:36:00.000-07:00

Here’s the lowdown on the Caribbean’s best: beaches, sailing, shopping, authentic experiences, adventure, unspoiled nature and peace and quiet.

Anguilla | Grenadines | Bahamas | Nevis | Saba | St. Bart's | St. John | Vieques | Virgin Gorda

Best for beaches: Anguilla

Almost in the shadow of nearby St. Martin, with St. Bart’s visible on clear days, Anguilla is flat and sandy and remains relatively undeveloped compared with its neighbors—but it’s still home to some of the most luxurious resorts and villas in the region.
Worth the splurge: Having recently celebrated its 20th anniversary, the Mediterranean-style Malliouhana Hotel & Spa (800/835-0796 or 246/497-6111; malliouhana.com; doubles from $500) is still going strong, with a newish spa, chef Michel Rostang’s haute-French restaurant, and a 25,000-bottle wine cellar.

Best value: At a far lower price point is the 27-suite Kú (Shoal Bay East; 800/869-5827; ku-anguilla.com; doubles from $160), from the owners of Cap Juluca. Every spacious, if basic, suite comes with a kitchen.

Real estate: For those taken with the villa lifestyle, now is the time to invest. In 2008, the Temenos Resort & Residences from St. Regis (800/ 567-1845 or 264/498-7000; temenosanguilla.com; from $1.6 million) will unveil the first of 115 villas and estates. The Kor Hotel Group’s 35-acre Viceroy Anguilla (800/357-1930 or 264/497-0757; viceroyanguilla.com; from $1 million), also opening in 2008, will be selling 172 California-meets-Caribbean residences.

Top beach: On the Caribbean side, the best way to experience scenic Rendezvous Bay, with its view of St. Martin, is by staying at the CuisinArt Resort (800/943-3210 or 264/498-2000; cuisinartresort.com; doubles from $685).

Favorite restaurant: Run by Malliouhana chef Dale Carty, Tasty’s Restaurant (Main Rd., South Hill; 264/497-2737; lunch for two $60) lives up to its name. Islanders are almost obsessive about his peppery-hot goat-and-potato curry.

Local flavor: Unfussy roadside barbecue shacks are where you’ll find the most memorable (and affordable) meals. Try the fiery grilled ribs and fish at Tamarind Tree Bar & Restaurant (Coronation Ave., The Valley; 264/235-2415); at BBQ Grill (across from the People’s Market, The Valley; 264/772-6204), the specialty is sliced roasted pork, rubbed in lemon and lime.

Where to shop: The best souvenir can be found at the post office (The Valley; 264/497-2528), which sells colorful stamps that celebrate everything from the island’s cultural heritage to Princess Diana.

Don’t miss: Named after a 19th-century English shipping family, Planters Pyrat is the tipple of choice, distilled in Sandy Ground (Road Bay; 264/497-5003; tours from 11 a.m. to 4 p.m.).

[Via - The Ultimate Caribbean]

How to Find the Best All-Inclusive Resorts

2008-04-17T01:35:00.000-07:00

Andrea Bennett shows you how to get the most for your money, not to mention top-notch service.

By Andrea Bennett, Travel+Leisure

My first experience with an all-inclusive resort was a decade ago during a freezing February in New York City. I was easy prey for this promise: a startlingly low price for a trip to Cancún, which included airfare, four nights in a double room, and meals at any of three "exciting, international" restaurants. What I got: an insipid buffet; a filthy, crowded beach; and many extra fees. Though piña coladas were included, bottled water wasn't. The only unexpected "extra" was the resort's own porn channel, blaring on my TV when I arrived. I would have settled for maid service.

These days, all-inclusives are going upscale with the same type of promise, but better delivery. At the Royal Hideaway Playacar, in Mexico, for example, a nightly rate starting at $850 per room includes meals by chef Sergi Arola—from Madrid's Michelin-starred La Broche restaurant—Spanish classes, and scuba lessons. You can find good deals at various price levels by asking yourself these questions:

Will I use what's included?

If you think you'll use everything a resort offers, even a pricey package can be a great value. Curtain Bluff, in Antigua, might seem expensive at $950 a night, but if you take advantage of the extras—scuba diving, waterskiing lessons, sailing, and drinks—the resort is a bargain. And large all-inclusive chains, which have improved their services, can be surprisingly affordable: I found a six-night stay for two in April at the Grand Lido Negril Resort & Spa, in Jamaica, including airfare from Charleston, South Carolina; all meals; tennis; scuba diving; and laundry service, for $683 per night.

Will I want what's not included?

Figure out if you'll desire more than what the deal gives you. The Meliá Cabo Real, in Los Cabos, Mexico, is next door to a Robert Trent Jones II designed golf course. Stay in a links-view room for $460 per night in late February, and the all-inclusive rate delivers everything except golf, which is $252 per round. If you plan on playing a few rounds, wouldn't staying at an actual golf resort end up costing less, even at a higher nightly rate? Definitely.

How big a hassle will it be to cash in? The appeal of an all-inclusive is lost if you have to spend time jockeying for what you've been promised. In order to avoid the buffet at the 355-room Caribe Club Princess, in Punta Cana, you must queue up before 3 p.m. to get reservations at one of the five restaurants. Other red flags: water sports that are actually at a different location; "unlimited" sports where equipment rental is extra; or being confined to nine holes of an 18-hole course. To avoid these undesirable scenarios, know what's included with the hotel before you book.

[Via - How to Find the Best All-Inclusive Resorts]

International Profit Associates

2008-04-16T04:59:00.000-07:00

International Profit Associates IPA-IBA is a U.S. leader in business development and management consulting services for small and medium-size companies. IPA-IBA is one of the fastest growing management consulting companies. It is widely held that it is one of the only management consulting firm in the world that delivers such a broad array of professional services to the small and medium-size business marketplace.

My space Layouts

2008-04-16T04:58:00.000-07:00

My space layout is a place where you can find all kind of layouts that you allways require to design a cool business website which will provide all the necessary solutions to make your business grow. MyspaceMaster.Net offers Myspace layouts, myspace codes, myspace backgrounds, myspace graphics, myspace generators. Customize myspace profile to make sure you are seen.

Florida Real Estate Beach Homes

2008-03-06T02:46:00.000-08:00

When you think of Florida real estate then what you probably want is a Florida beach home. Maybe you want a Florida town house or a beach condominium whatever you decide you should first do some careful research on what is available and what it will cost. There are many different options and the housing market is still good in Florida because it is the most favored place for living for people from all over the world.

When you are looking for a beach property then your best bet is to start your search in Miami Dade County in Florida. Here you can live facing the beach or get one of the many condos that are only a mile or so away from all the surfing and the fun. If the beach properties don’t match your expectations or are too expensive then look for a condo in somewhere like Orlando where there are many tourist attractions and plenty of new housing developments. There are plenty of professional real estate agents who will be able to help you in your search and in obtaining a mortgage.

Golfers might want to consider one of the many golfing properties that are springing up in and around Florida. Many of these properties not only have the convenience of being right on the course every day quite a few also have their own swimming pools. These are at the higher end of the price market however and you might want to lower your sights to more affordable Florida real estate.

A Home or an Investment?

What type of properties you go to look at in Florida and in which area depend largely on whether you are looking for a family home or a property investment. Experts are expecting the property market in this part of the States to do very well in the coming year which would make a Florida property a sound investment for anyone.

One of the drawbacks with property investment is that unlike stocks and bonds you are not going to get an immediate return on your investment – at least in the vast majority of cases. Real estate can tie up your money for a very long time. While real estate is a very marketable product, buying and selling it can take a considerable time. Having said that there are still investors who feel that their property investment portfolio is worth any of the drawbacks that they might face. In places like Florida investors stand to make a great deal of money if they play the right hunch. Once you know that you cannot buy and sell property at the drop of a hat then it is worth your while investing because you are more likely to make a sound investment decision.

One way that some seasoned investors make more money and keep on adding to their investment portfolio is because they are quite willing to check out the foreclosure listings and choose one of them. If you really are serious about investing in Florida real estate beach homes then this might be the way forward for you.

[Via - Florida Real Estate Beach Homes]

Panama City Real Estate

2008-03-06T02:34:00.000-08:00

So I need money for real estate Investment?

The answer is the ever popular - Yes and No.

Before you begin to look for a Panama City real estate investment , it is advisable to research how much you can afford and the financial options available to you.

You begin this research by analyzing your current financial liabilities as well as your equity holdings.

The 'pros' use leverage to finance their real estate investments and whenever possible, you should as well.

Leverage generally refers to using borrowed funds, or debt, so as to attempt to increase the returns to equity. Using a Lending companies funds for investing is an example of leverage.

One way to accomplish this is to find and work with a qualified Panama City professional real estate agent who knows the area in which you are interested in purchasing.

Real estate agents often work with and can suggest a lending company or mortgage professional.

In addition you can work directly with a lender or mortgage professional.

Understanding the financial implications of real estate investing is the first step. Working with a professional Panama City real estate agent and/or mortgage professional provides you with several benefits, not the least of which is they are typically well informed of news and growth markets in the area you are interested in investing.

Panama City Beach Real Estate Investment

If you plan on starting a property investment career then it is well worth looking at Panama City beach real estate. There is no better way to enhance your investment portfolio than by owning property in a city that has some of the best beaches in the whole of the United States. Whether you are looking for a house or a condo you are bound to find the property that you want in Panama City. Investors who put their money into buy to let properties are doing very well at the moment. New developments are being built all of the time and these service both the residential and the holiday rental market. There are a good number of professional real estate agents in Panama City who are there to advise you on your investments. Investors in real estate will be given all the information that they need in order to get the property they want at a price they are willing to pay.

Investing in Beach Real Estate

Now is the time to invest in beach real estate and there are plenty of companies around to manage any buy to let property that you invest in. Services usually include having access to a database of properties as soon as they come onto the market. Companies will undertake to interview suitable tenants for your buy to let beach real estate; whether these lets are just for the holiday period or on a more permanent basis. Real estate professionals will be able to advise you on up and coming changes to the property tax laws and how to get the best from your real estate investment. If you do not plan on living in the area then there are companies who will collect rental monies, deal with property maintenance and disputes and generally take all the strain out of owning rental property.

You may be looking for a new beach condo for yourself and your family. If this is the case then real estate professionals will endeavour to show you a range of properties within your budget and in a location that you desire. Before embarking on buying real estate of any kind you should first explore your options as to what type of mortgage would best suit your requirements. If you have the paperwork ready when you go to make an offer on a property the seller is far more likely to look favourably on your bid because they know that you are more likely than not to be able to borrow the money.

Searching for Florida Real Estate Beach Home and additional resources?

Panama City beach real estate is selling well at the moment and investors are so impressed with this that more of them are willing to put their money into one of the many off plan property developments in and around the city. The way in which some real estate companies operate in Panama City means that sellers are able to reduce the amount of time that their property stays on the market while buyers are more likely to be able to get the property that they want in a much shorter time.

The time that many properties remain on the market in Panama has almost halved in many areas of the city. This has in turn generated a marked upswing in the Panama City beach real estate property market.

[Via - Panama City Beach Real Estate Investment]
[Via - Panama City Real Estate]

Taj Hotels checks in at Saraya Islands

2008-02-03T23:06:00.000-08:00

Taj Hotels, Resorts and Palaces has signed a management contract for a period of 15 years with Saraya Islands to operate Taj Exotica Hotel in Ras Al Khaimah, United Arab Emirates, which will become operational by end of year 2011. The Taj Exotica Resort and Spa will be one of six world-class 5-star hotels in the Saraya Islands. Saraya Islands is investing $2 billion for the whole project. This is going to be Taj’s fourth resort in the Middle East.

The project comprises four islands and a main village, occupying 5.5 kms of the island. The resort by Taj will occupy something around 45,000 sq mts.

The resort will include somewhere around 150 guest rooms including suites, 30 bunglows, two restaurants, conference facilities spa and other top-end amenities.

“It’s going to be a state of the art mixed-use resort destination in the Emirates of Ras Al Khaimah. It’ll have world class 5 star hotels, spread over the island; it’ll also have a residential area as well as a retail segment and water amusement park. Moreover, the island is well connected with Sharjah and Dubai International airports,” said Mahdhar Al Tamimi, general manager, Saraya Islands.

[Via - News upate from Financial Services]

Suite Deals: Investing in Hotel Rooms

2008-02-03T23:05:00.000-08:00

Ever since Tony Kim flipped his "Starter Home" for an $80,000 profit six months after buying it, he's been on a perpetual hunt for new ways to milk the real estate market. He scored in the past five years with condos in Southern California and South Korea. Now he's chasing an intriguing new play: buying up individual hotel rooms.

A new way to play real estate

At first it might seem that Kim needs to call room service for a little reality soup. But in this time of real estate bubbliness, Kim and a growing number of others are discovering that the peculiar practice of investing in hotel rooms--"condo hotels," as they're known in the business--can provide potentially lucrative opportunities outside the froth-filled traditional housing market.

Over the past two years, Kim, a 43-year-old owner of beauty supply stores who lives in Omaha, Neb., has paid about $671,000 in out-of-pocket down payments for eight hotel rooms that are now valued at an estimated $6.7 million--about 40 percent more than their purchase prices.

The ability to buy ownership stakes in hotel rooms has been around for years. It's only recently become a popular way to finance new construction--and that's created investment opportunities. (A wealth of information can be found at www.condohotelcenter.com.)

Buyers find it appealing because initial capital outlays tend to be modest, since you can invest early in yet-to-be-built hotels. Moreover, unlike with traditional condos or vacation homes, there's no upkeep for the finished room. In addition to being able to stay in their rooms whenever they want, buyers can make money by leasing out the units to others.

Most hotel operators run services that will match rooms with customers and send a healthy fee to the room owner. James Dubois, a condo hotel investor in London, says he made a solid 6.7 percent return in the past year on his $410,000 purchase of a room by renting it out through the building's developer, GuestInvest.

The payoff

The larger payoff can come by investing in rooms in hot locations and hoping they rise in value--Kim's specialty.

In 2003 he put down a $10,000 deposit to reserve a small condo hotel room overlooking Lake Michigan in Chicago's Trump International Hotel & Tower. Over the next year, he put down an additional $79,000, or 15 percent of the nominal purchase price of $517,000. When the hotel building is completed, scheduled for 2007, he'll take out a mortgage.

Today, based on the value of comparable units, Kim's Chicago studio is worth about $1 million. "The beauty of condo hotels is there's no mortgage to pay until it's done," Kim explains. "You get in early and sit on it while it appreciates."

Since that first foray, Kim has bought two more condo hotel rooms in Chicago, four in Las Vegas, and one in Toronto. The asking prices for his eight rooms totaled about $4.7 million.

Though all the rooms are still under construction, the units today are worth an estimated $2 million more than Kim paid. Ultimately, Kim expects to sell some of the units to lock in the appreciation while retaining others for cash flow.

Joel Greene, president of Condo Hotel Center, says the big bet is that condo hotel rooms can be resold to affluent buyers looking for prestigious, no-hassle second or even third residences. Of course, investing in condo hotels does carry risks, especially given the long lag time (often four years or more) between the initial investment and the completion of a property.

Ford advises would-be investors not only to obey the cardinal axiom of all real estate investing--location times three--but to home in on properties run by highly acclaimed hoteliers. That will at least minimize the chance that investments will go south. And even if they do, at least the investor won't end up on the street.

"It's a calculated risk," Kim says. "But even if the worst-case scenario happens, I still have eight great hotel rooms to stay in."

Six Considerations to Selecting a Vacation Home

2008-02-03T23:03:00.000-08:00

Selecting a second home deserves almost the same amount of thought and careful consideration as does your primary residence. After all, you want to ensure a future of happy vacations and, if you're like most people, prefer your investment to be one that appreciates over time. Give consideration to the following six key variables when selecting your vacation home.

1. Lifestyle. Most people purchase vacation homes to relax, entertain family and guests, and recreate. Almost any vacation property offers relaxation and entertainment, but recreation varies from place to place.

Consider whether you enjoy skiing, fishing, boating, snorkeling, surfing, golf, tennis, hiking, mountain biking or even sunbathing. Then seek properties at a destination that caters to your recreational preferences.

2. Objectives. What is your primary objective with this vacation home? Do you want to own a vacation home you'll use frequently or is it mainly a real estate investment that you'll hold for a while and then resell hopefully for profit?

Is it a place to bring the kids on holidays or is it a future retirement home? Is it a convenient location from which you can mix business and pleasure? Is it a place for the entire family or somewhere you can get together with friends for fishing or skiing?

3. Travel Distance. The amount of time and money spent traveling to and from your vacation property is an influential factor in determining how often you'll visit. The ideal travel distance is different for every buyer, but before you purchase, you must decide how much time and money you're willing and able to invest each time you take a trip to your vacation property.

4. Location. It is crucial to learn anything and everything about the city, town, and community of your potential second home. What are the prime and low seasons? What is the year round climate? How many of your neighbors are full-time residents? Is the area a prime tourist destination?

Is the community safe and kid friendly? Is the local lifestyle - dining,
shopping, entertainment, and recreation - affordable? The answers to these questions and others will help you assess whether a particular vacation property will support your desired vacation lifestyle.

5. Costs. In addition to the price of your vacation property, many other expenses accompany the rights to ownership. Taxes, insurance, utilities, homeowner association fees, landscaping, repairs, furnishings and property management can add to your monthly payments. Be sure to research all the costs associated with your vacation property before signing on the dotted line.

6. Responsibilities. What do you need to do to take care of your vacation home each year? Mountain homes are subject to frozen and bursting pipes. Beach homes can encounter damaging tropical storms. How often does your roof need to be replaced or the house need to be painted?

Maintaining and managing your dream home can be a second job. One option is to hire a full-time property management company. Another is to consider a private residence club or fractional ownership in which an on-site professional management company takes care of all maintenance issues.

Searching for and purchasing a vacation home can be a demanding process. Giving careful thought to the six key considerations above in selecting a vacation property will help ensure that your vacation property fits your needs and resources.

Condo Hotel Center can provide educational guidance and services to simplify the process. Tell us what you're looking for and we'll be glad to make some property recommendations.

[Via - Six Considerations to Selecting a Vacation Home]

Condo Hotels for Second Homes

2008-02-03T20:57:00.000-08:00

Vacation Homes, Retirement and Investment

Considering buying a second home or vacation home? Great idea! You’re about to join one of the fastest growing trends in the United States and the world. And, if it’s a condo hotel unit that you’re thinking of, then you have a unique opportunity to get in on the ground floor of a very exciting, new type of real estate investment, one that shows tremendous potential for the future.

Why are condo-hotel units garnering such rapid appeal as vacation homes? Take a look at this list of the top ten reasons, and then we’ll go into more detail on each one.

Top Ten Reasons to Buy a Condo-Hotel Unit

1. Vacation “free” any time.
2. Enjoy Luxury Accommodations.
3. Avoid maintenance headaches.
4. Secure your place in the sun.
5. Generate rental income.
6. Get in on the bottom of the condo-hotel craze.
7. Gain appreciation potential.
8. Secure easy mortgage financing.
9. Save on taxes.
10. Diversify your investments.

1. Vacation “free” anytime.
When you own a condo hotel unit, you can use it as a vacation home anytime, unlike timeshares when you can only use your property one or two weeks out of the year.

2. Enjoy luxury accommodations.
Most condo hotels are first-class, extremely luxurious properties with numerous amenities. They are operated by the best, most respected names in the hospitality business such as Marriott, Hilton, Ritz Carlton, Starwood and Sonesta.

3. Avoid maintenance headaches.
Unlike owning a second house or a condominium, when you own a condo-hotel unit, you never have to worry about repairs and maintenance. The management company handles it all for you. You enjoy all the fun without any maintenance headaches.

4. Secure your place in the sun.
Places like Miami Beach, Fort Lauderdale and Key Biscayne are completely built up. Oceanfront property is a very limited commodity. If you want to know that you’ll always have a place to come for recreation and even retirement, the time to buy is now.

5. Generate rental income.
When you’re not using your condo hotel unit, you can allow it to go back into the hotel’s rental program. The hotel management company is responsible for renting it out for you. The revenue is usually split evenly after some adjustment for expenses. Part of the beauty of condo-hotel unit ownership is that you never have the bother of finding tenants or dealing with them.

6. Get in on the bottom of the condo-hotel craze.
The concept of condo-hotels as vacation homes is fairly new and not very well known…yet. However, every indication is that condo hotels are here to stay. Already the success seen in South Florida where the concept originated is now spreading to places like Las Vegas and Orlando.

Investors who take the plunge early have an opportunity to get in before word spreads and more buyers come on the market and drive up prices. Furthermore, unlike timeshares which are virtually impossible to unload, the resale market for condo-hotel units looks exceptionally promising.

7. Gain appreciation potential.
Those same baby boomers who drove up housing prices from Los Angeles, California to Burlington, Vermont are now entering the second home and retirement home market in vast numbers. In addition, the post-boomers are getting in on second home ownership. They see second homes as the newest symbol of status, the best way to reduce stress, and a direct route to quality family time.

And let’s not forget international buyers. The British, Mexicans, Latin Americans and Canadians as well as affluent citizens from many other countries are shopping the U.S. for second homes.

So when thinking about appreciation potential for a second home, gaze into that crystal ball and you’ll see that it clearly reveals a rapidly growing number of people with the desire, income, wealth and borrowing power for acquiring second homes. There’s little doubt that in the future the prices of properties that are located in popular areas like Miami Beach, Key Biscayne and Fort Lauderdale will make today’s prices look like bargains.

8. Secure easy mortgage financing.
Lenders like the condo hotel concept. They are ready, willing and able to make mortgages on condo hotel units as second homes or vacation homes.

9. Save on taxes.
Owning a second home opens an array of possibilities for additional federal tax deductions and tax-sheltered (or tax-free) income. In some cases, you can even reduce or eliminate various property taxes, income taxes and other fees levied by state and local governments. Naturally, you should discuss your own situation and tax-saving possibilities with competent tax counsel.

10. Diversify your investments.
The ups and downs of today’s stock market is dizzying. With strong appreciation of second-home prices expected in many locations, you might consider diversifying your investment portfolio with real estate ownership-especially real estate that will add happiness to your life. If the stock market drops, your second home will not only help preserve your net worth, it will give you a fun place to vacation.

[Via - Condo Hotels]

Private Residence Clubs & Fractional Ownership Offer an Appealing Lifestyle

Being pampered is a part of the resort experience for many vacationers. Impeccable service is what often leads them back to top hotels again and again.

Those who prefer a private residence in their getaway locations can choose from an array of housing options. But they'll have to make their own dinner reservations and contact the plumber themselves.

But what if you could own a private second home in those beach and mountain locales and still be treated as if you were at the Ritz? That's the idea behind residence clubs, one of the fastest-growing segments of the vacation-home business and one that hotel operators -- including Ritz-Carlton -- have embraced.

"We're selling a lifestyle along with the house," said Alan Fuerstman, chief executive of Montage Hotel & Resorts, which is building 14 villas and offering 14 additional home sites at its Montage Resort & Spa in Laguna Beach, Calif. "You can get room service, use of the spa and pool, and have our chef coming over to do a dinner party for you."

Those home sites, some of the last oceanfront property available in Southern California, don't come cheap: $4.5 million to $6.5 million for the lot alone. (Nine of the 14 are still for sale; the 3,000-square-foot villas are sold out.) But they represent a way for resort developers to make their high-cost projects more economically feasible, one of the reasons the concept has become more popular.

"We're in the process of putting together a development in the [California] mountains, and we see this working wonderfully there," Fuerstman said. These buyers are younger than we would initially have thought. But what we find is that the buyer who falls in love with these properties has stayed in the hotel once or twice and wants to embrace that lifestyle, capture it on a daily basis," he said.

The Residences at Montage represents the latest in the evolution of the hotel industry in the second-home market. The villas and home sites at the Laguna Beach property are being sold outright to buyers, not as time-share or fractional-ownership units.

It has been 20 years since Marriott became the first major hotel chain to enter the vacation-ownership business with its purchase of American Resorts. That initial foray involved time-shares that were sold as a right to use a condominium unit for a specified time, generally one week of the year.

Marriott

Marriott still operates two brands that sell traditional time-shares: Marriott Vacation Club International and the more moderately priced Horizons by Marriott Vacation Club. Owners are able to trade weeks in order to vacation in a large number of destinations.

In 2001, Marriott added its Grand Residence Club concept. The first club opened in Lake Tahoe, Calif., in 2002 and the second in London last year. The clubs combine fractional ownership of a second home with the amenities and service of a luxury resort. Fractions from three weeks to 13 weeks range from $83,900 to $550,000.

The hotel company also operates the Ritz-Carlton Club, another fractional-ownership product where buyers can purchase interests from 21 to 35 days per year for $98,000 to $490,000. Ritz-Carlton Club resorts are located in Aspen and Bachelor Gulch, Colo., St. Thomas and Jupiter, Fla.

In addition, the Residences at the Ritz-Carlton offers for-sale condominiums at 11 U.S., Caribbean and European destinations that provide concierge, dining and butler services.

Four Seasons

High-end hotelier Four Seasons also has been developing private residence clubs. It has fractional-ownership properties in North San Diego, Calif.; Scottsdale, Ariz.; Jackson Hole, Wyo.; and Punta Mita, Mexico, near Puerto Vallarta, which is under development.

And Hyatt Vacation Ownership, an affiliate of Chicago-based Hyatt Hotels, has broken ground in San Antonio, Texas, on what will be its 11th vacation ownership property; eight are open and two others are slated to open this summer.

Exclusive Resorts

Not all the hotel-type developments involve hotels, though. Exclusive Resorts, founded by Brad Handler, a member of eBay's startup team, offers a collection of luxury vacation homes that members have access to. The company has more than 200 homes in 25 locations worldwide, with 12 additional sites planned.

The homes average about $2 million, but members pay a one-time deposit of $375,000 to join, plus yearly dues that the company describes as "modest." Exclusive Resorts' members can use a member-services manager to make travel arrangements and have access to an on-site concierge in their destination.

Members can also take advantage of Exclusive Resorts' strategic partnership with Marquis Jet, which provides access to the NetJets private jet fleet.