Ft. Lauderdale is transitioning from a spring break destination for college students to a budding upscale resort town due, in part, to spillover from Miami’s boom. A string of new luxury hotels and residential buildings along the beach are drawing a mix of well-heeled U.S. tourists, foreign condo buyers and visiting families from all over. In fact, about $1.5 billion in residential and hotel developments are under way in the Fort Lauderdale area, according to the Greater Fort Lauderdale Convention and Visitors Bureau.
By Gordon Mazur, Southern California Area Leader, Los Angeles
By Ivy L. Irwin, Managing Consultant, Atlanta
By Holly I. Unck Esq., Senior Managing Consultant, Phoenix
Although the hotel industry is in the midst of possibly the most successful period in the industry's modern era, some United States hotel leaders are concerned of the effects of reduced oil prices, the strength of the dollar overseas, and supply growth, according to Hotel News Now. When the cost of gas is low, it may give the perception that travel will increase. While this may be the case for some markets, low oil prices are a major concern for others. Some oil and gas companies are already experiencing lay offs due to lack of demand, and local economies that depend the industry are beginning to feel the impact. And hotels in major oil and gas markets aren't seeing a lot of new occupancy due to cancelled projects.
By Holly I. Unck, Senior Managing Consultant, Phoenix
By Sharif Mitchell, Mid-Atlantic Area Leader / Principal, Paradigm Tax Group, NYC
By Jack Nash, Northeast Area Leader / Principal, Philadelphia
Categories: Distribution Centers, Personal Property, New Jersey, Office, Industrial, Real Property, Resorts, Bankruptcies, Gaming / Casinos, Apartments, Hospitality, Retail, Paradigm Info, Hotels, Multi Family, Warehouse, Economy
By Cameron Moore, Southeast Area Leader / Principal, Atlanta