Inn on the Lake Hotel Marks the First Canadian Property for Upscale Hotel Membership Collection
Choice Hotels International, Inc. (NYSE:CHH) is pleased to announce the addition of its first member hotel in Canada for the company’s Ascend Collection—the Inn on the Lake hotel of Fall River, Nova Scotia. Ascend Collection is an elite network of Historic, Unique and Boutique hotels across the United States and the Caribbean.
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Park Place on Seagrove Beach, a luxury Gulf-front condominium development is garnering attention with its unique architecture and South Florida-inspired style. The exclusive 19 unit development debuted in 2007 and only a few units remain available for purchase. Park Place is centrally located just two miles east of Seaside and includes 200’ of pristine private beach. Architect Bill Williams of Williams-Blackstock Architects of Birmingham, Ala. designed the impressive steel and concrete construction building with classic features. Park Place was developed by Ray Fitzpatrick and Steve Chambers, the team also responsible for the popular The Village of South Walton, a condominium community adjacent to Rosemary Beach.
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Marriott International, Inc. (“Marriott”) (NYSE:MAR) today announced third quarter 2009 pre-tax impairment charges of approximately $760 million associated with its timeshare segment. The charges largely relate to the company’s plans to reduce prices and development at luxury fractional and residential resorts to accelerate cash flow. “The decisions we announced today were made to enable us to drive long-term cash flow and profitability in our timeshare business,” said Arne Sorenson, Marriott’s president and chief operating officer.
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"The consumer is king" and will benefit from the global economic recession as luxury houses rethink their business strategy, writes Tina Gaudoin, editor-in-chief of WSJ.
The Wall Street Journal's glossy magazine, which is set to hit newsstands in the U.S. on Sept. 12 and Sept. 11 in Europe and Asia. "Luxury goods houses will have to rethink the way they appeal to us, the consumers, in order to survive…which ultimately means greater value, superior products and a better deal," writes Ms. Gaudoin in her cover story, "Changed State of Luxury." The magazine explores the recalibration of luxury focusing on diamonds, luxury cars, top-end real estate, accessories and travel. "Luxury is still a big business — $175 billion big — and all of us have contemplated abstinence in the past year, at least where purchasing is concerned," she added.
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Concierge Auctions will conduct a luxury real estate auction of three luxury properties in the Jacksonville, Florida area on September 23, including a country estate on more than 24 acres of land and a 4,500-square-foot home in the Marsh Landing Country Club in Ponte Vedra, the company announced.
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Orient-Express Hotels Ltd. (NYSE: OEH) , owners or part-owners and managers of 50 luxury hotels, restaurants, tourist trains and river cruise properties operating in 25 countries, today announced its results for the second quarter ended June 30, 2009.
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That extra Bentley taking up too much space in the Villa’s garage? Looking for a late model Sikorski? Or perhaps the current downturn in the economy has you looking for a venue to downsize or liquidate a high value asset.
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