Condo Hotels Appeal to U.s. Baby Boomers, Especially the Trump Brand
With more baby boomers approaching retirement age each year, (approximately 75 million will retire within the next 15 years in the U.S.) and a large number of them looking for second homes, condo hotels are a concept that is gaining widespread popularity.
This new real estate trend allows individuals to own a hassle-free condominium within a luxurious hotel or resort. As owners, they can enjoy all of the amenities and services of the hotel. Best of all, when they’re not using their condominium, it can be placed in the hotel’s rental program, where it will generate revenue, helping to offset the costs of ownership.
Condo hotels, or “condotels” for short, are usually high-rise, luxury buildings in high-demand locations, such as Las Vegas, Orlando and Myrtle Beach. They have the look and feel of world-class hotels with many of the same perks and amenities, from on-site restaurants and resort-style pools to housekeeping and concierge services.
The difference is that each suite is an individually-owned condominium unit. The hotel management company takes care of operating the hotel’s various departments and offering guest services along with maintaining and renting out the condominium units.
Condo hotels have particular appeal to baby boomers, who are just now hitting financial peaks in their careers and are also inheriting hefty sums of money from their parents.
These boomers are in a position to travel more than ever, and owning a vacation home, which they can visit on a whim, makes travel easier. A second home is even a status symbol to some, like owning a fancy car.
Many baby boomers are also looking to invest in real estate as an alternative or supplement to investing in the stock market. They love the hassle-free nature of condo hotels.
Many brand-name hotel chains have jumped at the chance to meet the baby boomer demand for condo hotels including Hyatt, Ritz-Carlton, Hilton, Four Seasons, Sonesta, Starwood, Clarion, Regent International, Rosewood, Conrad Hotels and Le Meridien. All have condo hotels either in operation or in development.
But probably the brand that has received the most notoriety and had the most sales success is Trump International, a name made famous around the world by real estate mogul Donald Trump.
The Trump International Hotel & Tower has come to represent the epitome of prestige and refinement in the condo hotel industry, offering upscale amenities to meet the high expectations of today’s baby boomer.
Infinity pools, full-service spas, state-of-the-art fitness centers, gourmet restaurants, private libraries and butler service are just a few of the features available to owners of Trump condo hotel units.
Trump International condo hotel properties are available at several locations in Florida such as Fort Lauderdale. The upscale condo hotel developer has also made his way to Hawaii with a condo hotel in Waikiki currently under construction. That property set a record for U.S. residential sales when it sold all of its 460 condo hotel units on opening day and turned away many more buyers.
Theater, nightlife and the excitement of New York are all available in downtown Manhattan at Trump’s SoHo condo hotel. For those who say the Big Apple is not for them, there is the Trump Chicago or Trump New Orleans.
Trump has recently gone global. Trump International properties are under development in Toronto, Canada; Dubai, UAE; Panama City, Panama; and Baja, Mexico.
Because of cheaper land and labor costs, the pricing of Trump International properties in countries like Panama and Mexico is often far less than that for U.S. Trump properties, making them all the more appealing to investors.
Regardless of the location, a Trump condo hotel offers the ultra-upscale lifestyle that has come to define the Trump brand and have special appeal to today’s baby boomer.
Many who purchase a Trump condo hotel say they enjoy the thrill of owning a Trump as much as the actual use of an elegant second home. They also are quick to point out the condominium’s appreciation potential.
As world-class properties in prime locations, Trump condo hotels are a welcome addition to any investment portfolio.
For baby boomers and others considering the purchase of a second home, a condo hotel residence is worth careful consideration. And when choosing between properties, it’s the Trump brand that has become synonymous with prestige and excellence in the condo hotel industry.
Categories: Orlando Nightlife Tags: Appeal, baby, Boomers, Brand, Condo, especially, hotels, Trump, U.S.
How Boomers Can Sing Rock & Roll Instead of the Blues
The new Pew Research Center Social and Demographic Trends survey measured dissatisfaction and pessimism in close to 2500 participants. The data indicates that Baby Boomers worry more than any other generation. And a recent study from the University of Chicago suggests that the boomer generation has never really been happy. One hypothesis is that they grew up wanting to make the world a better place – and it’s not.
No one could deny that the national conversation has become depressing. Some find it hard to get up in the morning, when all they hear about is tumbling home prices, the war in Afghanistan or Iraq and record oil prices. Pundits exclaim that the American dream is dying on the vine and we are all suffering from bankrupt spirits.
But are things really that bad? What’s happening may be a natural change in the seasons of life. Cultural pain is normal in crises and perhaps the Baby Boomers just haven’t been adversity-tested. After all, isn’t necessity the mother of invention? Follow some of these suggestions as you develop your inner strength and resiliency:
1. You know about physical fitness. Apply some of these principals to becoming more emotionally fit. Discover your usual emotional pattern and start a training program. In addition to nutritious eating and regular exercise, practice noticing the negative concerns that get your attention, how you end up feeling and what active steps you can take to change your thoughts.
2. Rather than seeing the glass half empty, turn your challenges into opportunities. Release your mind from worries, most of which never happen anyway. Take it one day at a time and accomplish what you can without dwelling on the ‘what ifs.’ Worrying takes a lot of time and energy – it’s counterproductive and destroys your peace of mind.
3. Free yourself from resentment and practice how to forgive. If you hold on to grudges toward your business partner or past hurts from your friends, you’re the only one who will be miserable. Let go of feeling sorry for yourself and you’ll make room for more positive experiences. As your attitude changes, your day-to-day life will become more pleasant.
4. Embrace simplicity and appreciate what you have. Enjoy your family and colleagues. Go outside on a cloudless night and look at the beautiful sky. Take your family camping for the weekend and roast marshmallows over the fire. Eat sandwiches on a park bench with a co-worker and visit during lunch hour. Give back by volunteering at a homeless shelter, soup kitchen or a boys and girls club.
5. If you’re feeling gloomy in these roller coaster times, invite friends over for a potluck dinner and have everyone bring their signature dish. Turn the conversation into a creative and supportive revival of the spirit. Discuss innovative ways to save on groceries, to use less gas, to network for a new job.
6. Don’t expect so much. Unrealistic expectations about things and people lead to disappointment. Stuff loses its shine and appeal. Built-in obsolescence makes you a slave to the latest style and the next upgrade. It never ends, and then you feel dissatisfied with what you have. In some situations try not to expect anything, and whatever comes your way will be a blessing.
It is true that, as financial crises go, this one is very personal. But perception doesn’t always match reality. According to the Pew Research results, the boomer generation enjoys the highest incomes of any age group surveyed. They are less likely to have been laid off and less likely to have trouble paying for medical care or housing. In fact, fewer of them said that someone in their household had to go to work in the past year or take on an extra job to make ends meet.
Home prices will stabilize, oil prices could stop going up and, for all we know, the global economy may be resilient. The bottom line is that contentment is elusive for some people. In the end, it’s important to realize that fulfillment isn’t to be achieved as a goal in itself, but rather as the result of living a good life.
(C)2008, Her Mentor Center