Perfect for a Couple, Small Family or Group of Friends
What do Cancun, South Padre Island, Florida and Breckenridge have in common? Well, besides the need for SPF 30 sun-block, all are hot spring break destinations. OK, Breckenridge may not have tropical temperatures, but we guarantee as a Spring Break destination, it is hot, Hot, HOT.
Located just 90 minutes from Denver International Airport, Breckenridge has become the poster-child for “the cool ski resort” in the Rocky Mountain West. The 4 mountains of the Breckenridge resort guarantee unlimited skiing and snowboarding no matter your ability. From gentle glade trails to half-pipes and moguls the size of a Smart Car, it can be found in Breckenridge. As we approach President’s Weekend, this is the unofficial start of Spring Break with warmer, sunnier days intermixed with major snow dumps insuring powder days on the slopes. Take note, March is the snowiest month in Breckenridge.
Days on the slopes usually end with traditional après-ski in the hot tub with the warm waters massaging the muscles after a challenging day and prior to heading out to indulge in the nightlife Breckenridge is famous for. The historic mining town has been transformed into a world-class destination with a diversity of shops, restaurants, galleries and other “non-mountain” pursuits. Dining can be fast-food or the luxury of a chef’s tasting menu, all within walking distance. Non-skiers, take a ½ day and visit a spa or enjoy morning coffee with a walking tour of the historic town. For shoppers, the Silverthorne Factory Outlets are just a few minutes north.
We understand many vacation rentals are oriented towards larger families and groups. Thus, it is rare when we can offer a one-bedroom flat as a vacation rental in Breckenridge meeting the deluxe standards The Society is known for.
In real estate, the three “L’s” are Location, Location and Location and this vacation has all three. Seriously, our flat is literally just steps from historic Main Street as well as the Quicksilver High-Speed Lift with immediate access to the slopes.
The flat, built within the last decade offers what we consider “Ski Chalet Light”. Within its 785 SF, the flat is furnished with an emphasis on deluxe comfortable luxury. Enjoy the gas fireplace while watching the large flat screen (with a few DVD’s and popcorn, the most comfortable theater in town). The bedroom has a King Bed, a rarity in many mountain flats and its own flat screen. The living room sofa converts to a deluxe queen bed. In the kitchen and bathroom, there has been liberal use of custom granite and tile to exemplify the luxury appointments of the flat.
The holiday season from Thanksgiving to New Year’s is usually a joyous time when family and friends gather to celebrate, reconnect and enjoy each other’s company. However, all journeys begin with transportation, thus we offer a few tips for flying with the family this holiday season:
First Flight: Try to take the first flight in the morning, less chance of delay and/or waiting for an inbound aircraft.
Nonstop Vs. Direct: When possible, go nonstop. A direct flight may make a stop. If in doubt, call the airlines and ask.
Ship Your Luggage/Gifts: Avoid checked baggage fees and luggage carousels, ship ahead of time. Save a few dollars by shipping air to the destination, ground on the way back. Mail Boxes, Etc, UPS Store and others can assist.
Pack Some Snacks: Pack a few snacks in your carry-on luggage. Buy beverages post security checkpoint.
Check-In 24 Hours Prior: Check in via the Internet 24 hours prior to your scheduled flight departure, less chance of getting “bumped”.
Reconfirm Return: Especially for international flights, reconfirm your return flight with the airline 24-48 hours prior.
Patience: Airports will be crowded, tempers will flare. Stay calm and cool. Please remember, the airline employee has been yelled at all day, show some sympathy. Even better, bring a box of chocolates or similar, may receive an upgrade.
Weather Delay: Before leaving home, if connecting, check options for hotels close to your connecting airport, make a list of a few with phone #’s, just in case.
Cell Phone: Keep it charged. If you are delayed and in line to re-book, call the airline from your cell as well, all inquiries and requests go through the same system.
Flexibility: If you flight is delayed and/or cancelled, be flexible. Yes, we all have jobs and lives to return to, however, if delayed consider an extra day or two at your destination. As I say, “Have laptop, will travel”.
A recent report published by Unity Marketing entitled Forecast for Luxury Travel Through 2010: A Luxury Trend Report provides light at the end of the tunnel. As many of our property managers and owners know, the luxury travel sector has been one of the categories slower to recover from the most recent recession.
Data collected by Unity Marketing shows spending on luxury travel was down 22 percent for the first 3 quarters of 2009 when compared to the same period in 2008. In plain-speak, luxury travel was slower going into the recession and is slower coming out as evidenced by the continued discounting and incentives offered by marquee hospitality brands and resort areas.
The report looked at both business and leisure travel. While the majority of our partners are “leisure oriented” we at The Society understand some of our partners are intrinsically tied to the business and corporate travel markets.
Concerning the business traveler, the report mentions “More business travel will be planned on reduced budgets”:
75% of business travelers expect to spend less or the same on business travel during the next 15 months; yet will be actually increasing the pace of business travel.
Business travelers will be looking for “value” from the brands they patronize.
Increased demand for budget and business-oriented hotels and dining options.
Lower demand for luxury business hotels, dining and 1st class air.
Deluxe and luxury hotels which catered to business travel must revise their messaging to attract the luxury pleasure travel market.
Concerning leisure travel, the picture is much brighter. In general when the affluent travel for personal pleasure, they are more likely to move up-scale into lodging considered 4-5 star.
While pricing has been the buzz-word for the past few quarters, as we climb out of the recession, increasing rates will not be on the immediate horizon. Most lodging entities reacted to the recession by driving down rates increasing supply while demand has remained static. The end result, an uphill climb to rates of the years pre-recession.
What we suggest our property managers and owners do:
1) Enhanced Differences: Competitive pricing while conducive to many bookings is complex, especially when pitching a vacation home rental. In reality you will not be able to compete apples-to-apples with the Ritz-Carlton down the street. Thus, we suggest “play up your differences” such as:
At The Society, we have an excellent selection of vacation rentals in New York City. From historical lower Manhattan to the always hopping Columbus Circle area, your New York City vacation does not have to be spent in a cramped hotel room. When in NYC, may we suggest:
5th Avenue Snowflake: One of the most enduring holiday sights, the snowflake suspended over the intersection of 5th Avenue and 57th Street. Take in the 4 corners of commerce including Tiffany (SEC), Bulgari (SWC), Van Cleef & Arpels/Bergdorf’s (NWC) and Louis Vuitton (NEC). A luxury shoppers paradise.
Macy’s: While Herald Square is crowded, watch The Miracle on 34th Street and then head to Macy’s where Santa is in residence from the day after Thanksgiving until Christmas Eve.
5th Avenue: On Black Friday (the day after Thanksgiving), 5th Avenue through Midtown is closed to cars. Enjoy the expansive Avenue with a 1000’s of other shoppers. Stop at Prime Burger (51th Street between Madison & Fifth, across from St. Patrick’s Cathedral for an old-time lunch experience)
Radio City Rockettes: 75+ years of tradition, the Christmas Spectacular must be seen at least once. In addition to the show, check out the historical art-deco theater.
Time Warner Center at Columbus Circle: so you miss the mall, here you go - granted it’s vertical. Drop some serious coin at Tourneau on a new wach or Thomas Pink for British shirtings. On a budget, lunch at Whole Foods on the Lower Level. Looking for a civilized lunch, consider Landmark, upscale dining, family friendly, a place to park the strollers and carriages.
Rockefeller Center: In addition to the tree, there’s a small skating rink. While the crowds can be maddening, go below the promenade and enjoy a hot cocoa indoors while watching the skaters glide by and the tree above. Truly above it all, visit the Top of the Rock. For a true skate experience, consider Wollman Rink in Central Park with the midtown skyline as a backdrop.
Serendipity3: Charming generations for years with their signature Frozen Hot Chocolate. Rent the movie with the same name starring Kate Beckinsale and John Cusak.
Lighting of the Menorah: at Grand Army Plaza in front of The Plaza Hotel. Want to warm up, head downstairs at the Plaza, a luxury shopping area hidden from the crowds above. For the Apple fan, hit the Apple Store across the street, open 24/7.
Coming off the summer 2009 vacation season, there were glimmers of hope on the horizon. The term “staycation”, popular amid the depths of the economic downturn during the first quarter of 2009 seemed to slowly be eradicated from the popular press. Hotels and resorts lured clients by offering $99/night rates with value-added amenities thrown in (children eat free at Ritz-Carlton). Gas prices stabilized with a national average of $2.49/gallon a 37% decrease when compared to July 2008. Better economic news was the catalyst to spur travelers to consider at minimum a short vacation within their drive-time markets. Those opting for air travel were surprised by higher air-fares (due to reduction in capacity) and an increase in over-sold flights.
The following White Paper recognizes the changing outlook concerning vacation culture.
The acceptance of “last-minute bookings” as the new normal
Reduced rates/REVPAR (Revenue Per Available Room Night) for the foreseeable future
Increase in incentive/corporate travel as businesses exit the recession
The value orientation proposition
Even during the past two quarters of economic uncertainty, the growing popularity of vacation home rentals continues. Although supply has exceeded demand at present, future growth coupled with a diversity of supply worldwide may provide a healthy balance in the marketplace.
October 20th, 2009 (Seattle, WA) – LuxuryRealEstate.com today announced plans to launch a new portal for developers of the most sought-after communities in the world. Building on the success of the award-winning LuxuryRealEstate.com, the company plans to unveil the new section of the website in January 2010. Offering the most comprehensive collection of world-class developments using state-of-the-art search functions, the new portal will help developers drive traffic to their websites and inquiries to their sales teams.
“The new Luxury Communities Portal is poised to be the single most comprehensive source for consumers using the web seeking detailed, customized searches of the top new developments in the most desirable locations around the globe”, states CEO/Publish John Brian Losh.
The latest offering from LuxuryRealEstate.com was designed specifically with buyers in mind. You can now go to a single location to research every aspect of a community and initiate direct contact with the development team. Customizable searches with criteria the buyer sets forth are immediately populated and will provide buyers with a wide range of details about each community. Developers will have the ability to showcase each aspect of their project with video, mapping, blogs, an image gallery, inventory of all current listings complete with photos and direct links to representatives from each property.
LuxuryRealEstate.com, a 2009 Webby Award Honoree, has been voted ‘Best of the Web’ by Forbes magazine multiple times, praised by the International Herald Tribune, Town & Country, the Wall Street Journal and has been ranked ‘Best Website’ by consumers according to a survey by the Luxury Institute LLC. Since its debut in 1995, LuxuryRealEstate.com has remained the #1 portal for luxury properties on the internet, consistently driving more traffic to member websites and generating more qualified inquiries than any other website.
LuxuryRealEstate.com (also known in the industry as the Who’s Who in Luxury Real Estate network) is a global collection of the finest luxury real estate brokers in the world. This group of more than 1500 brokerage firms and 100,000 professionals in more than 65 countries collectively sells in excess of $180 billion of real estate annually, with an average sale price of $2,650,000. Members sell homes for record prices and handle transactions of incredible complexity and magnitude with complete discretion. Every member is carefully selected by CEO/Publisher John Brian Losh, an entrepreneur and broker of fine properties and estates through his Seattle-based brokerage firm, Ewing & Clark, Inc. and one of REALTOR Magazine’s 25 Most Influential People in Real Estate.
“Have you seen this home?Yes, it is ski in/out, however, it looks like Stevie Wonder decorated the place”. Yes, the home was a premier location, however, the interior which included shag carpeting in need of a riding mower, faux fur throws patterned on long extinct animals and my two personal favorites, the aqua blue velour sofa on caster wheels and the leopard skin ice bucket.My response to the client, “I disagree, I am thinking this was Liberace’s ski chalet”. Below, what it could look like via Dahlgren Duck.
While we laugh now, it was a serious issue including moving the to another vacation residence. In this day of increased competition, it is important for the interior’s to be as attractive as the location. From our experience, even vacation residences with inferior locations will rent better with interiors which impress.
While many vacation homeowners will do their own decorating or hire a local furniture store and purchase the “vacation rental package”, for those desiring the expertise of a design firm versed in the hospitality trades, we suggest Dahlgren Duck.
We have referred DAHLGREN DUCK to many vacation homeowners who desire a “turn-key” option for their vacation rental. Dahlgren Duck is what we consider a “SINGLE SOURCE” Fulfillment center supplying “TURN-KEY” Home packages to destinations worldwide. The company has over 25 years of experience centered on product research, procurement, inventory management and shipping expertise. Clients can select from the finest Brands of household goods and accessories to create a custom package unique to their particular needs from the beachfront villa to the ski-in/out chalet to the estate with multiple structures.
Interior design and provisioning for a vacation rental (or your yacht, jet and so forth) is quite complex. Dahlgren Duck can assist in all your design needs from furnishings and art to silverware, barware, linens, towels and so forth. In addition to using their years of expertise in hospitality design and provisioning, you the client will save hours or time and aggravation. When working with Dahlgren Duck, you are assured a professional relationship and the opportunity to actually enjoy your “turn-key” vacation residence for personal use and rental.
As vacation home rental managers, we all face a unique set of challenges on a daily basis from the individuality of our inventory to competition from VRBOs to the unprecedented increase in supply and decrease in demand concerning vacation home rentals.
TheSociety.com is proud to be affiliated with VRMA which represents over 600 property management and associate members in the United States, Canada, Mexico, and the Caribbean, representing approximately 150,000 vacation rental homes, condos and villas. VRMA members represent the leading vacation rental management firms in North America.
The 25th Annual Conference is scheduled for later this month in Washington D.C. The annual meeting is one of the most important and educational opportunities you can partake as a property/estate vacation rental manager.
Of particular interest this year are the following seminars most appropriate for today’s challenging marketplace:
Emerging Lifestyle and Travel Trends: Implications for Marketing Vacation Home Rentals in the Year Ahead.
Industry Trends for Executives
Yield/Revenue Management; Enter the Mainstream of Travel
E-Mail Marketing; From Lead Capture to Conversion
How to Maximize the Impact and Attractiveness of your Property Listing
The above are just a sampling of the many programs and seminars available to participants.
As the economy begins to stabilize, we at The Society have enjoyed an increase in calls concerning our marketing services for vacation home rentals. Yet, before considering a purchase and/or interviewing management companies, it may be best to “Try Before You Buy”.
Let’s face it, we have all been on vacation and while enjoying ourselves, we begin to fantasize about the possibility of a vacation home purchase and start looking in the windows of real estate offices next door to the tee-shirt shop. While ownership can take many different forms from interval-ownership, time-shares, full ownership, partnerships and so forth, we suggest you “rent before you buy”.
1) Learning the Lay of the Land: Recently I enjoyed a vacation in Costa Rica. We stayed at a wonderful resort community and were truly enjoying the exemplary service provided by the management company representing our vacation home rental. We opened a dialogue with the management company assuming they would be most proactive in assisting us with a purchase and management contract in the community. To our surprise, the management company advised us 1) High-season is vastly different than the time we were visiting and 2) they suggested another area of Costa Rica to visit and 3) consider visiting at different times of the year. The management’s suggestions were right on target. We found a neighboring area we were even more impressed with and were assured in-season crowds would be minimal. All of this came about due to my comment “If I have to place a book on my lounge chair at 7AM to reserve it, I will not be a happy camper”.
2) Multiple Visits: From my experience as a real estate broker with experience in resort communities, I suggest visiting 3-4 times before making a purchase. By visiting multiple times, you can assess if the initial “wow-factor” continues on each visit and learn about the different seasons. For example, one of my clients bought in Vail, Colorado for the skiing. Yet, after a summer visit and enjoyment of the many golf courses, the clients now rent their vacation residence during the winter months (through The Society) and enjoy the summers on the golf course and biking the many mountain and paved trails.
From luxury penthouses in Manhattan to oceanfront estates in Orange County, CA to slopeside chalets in Colorado, asking prices continue to drop on the highest priced real estate across the country. For example, in Laguna Beach, Villa Rockledge, a compound consisting of a main house and six surrounding villas all perched on a bluff over a private stretch of beach has slashed its asking price by $5M to $29.9 Million.
While we are not here to share the bad news, instead we at TheSociety.com wish to offer suggestions concerning marketing and exposure of your luxury home to a targeted market of affluence with the resources to purchase. The following are a few suggestions from our council of luxury proprietors with whom we work on a daily basis:
Stand-Out: In an up-market, a so-so home could sell with limited if any improvements. During the boom, one of our advisors, a real estate broker in Vail showed a prospective buyer a home on Mill Creek Circle, the 5th Avenue of Vail. When the broker commented if the client would like to see the inside, the response was “Why, I plan to tear it down”. Times have changed. Even if your home is on a desirable lot, the days of tear-down and rebuild will not return in the immediate future. Consider updating your home’s exterior and interior. Consult with local realtors to assess what buyers desire in luxury homes. Renovate to sell, not to your personal tastes. Also, be aware, a renovated home may sell faster, however, it is doubtful you will net 100% ROI, thus evaluate the costs and be sure to consult with a realtor and/or appraiser with knowledge of your neighborhood.
Price Accordingly: While you may feel your home is worth a certain amount, look at the re-sale data from the past year (factoring out foreclosure and short-sales). What may have been $2K/sf in 2007 may be $1.4K/sf at present. Be realistic and assess market conditions. It’s a brave new world out there and the new golden rule is “He/She who has the cash rules”.
Rental: Is the home a 2nd or vacation residence. Consider renting as a vacation residence or monthly/annually while it is for sale (we suggest checking with local zoning officials and any covenants associated with your property). You may generate some income and it is an excellent opportunity to allow a prospective buyer to “test-drive” the home. Are you in a position to “hold paper” AKA “Owner Financing”, consider a lease option-to-own or other creative financing options.
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The holiday season from Thanksgiving to New Year’s is usually a joyous time when family and friends gather to celebrate, reconnect and enjoy each other’s company. However, all journeys begin with transportation, thus we offer a few tips for flying with the family this holiday season:
