Now is the Time to Seize the Day

Due to the world’s current economic climate, never has there been such a once in a lifetime, unprecedented opportunity for the motivated individual to make a lifestyle change.

Do you feel stuck in your current location? Are you living in too small a house, too crowded an area, too poor, or too familiar? Now is the time to capitalize on your dreams. With the world’s economic climate on its knees, never has there been a better time to move forward and capitalize on the deep discounts that developed. Breathtaking real estate locations such as Colorado, New York, Miami, Las Vegas and San Francisco have finally come down in price. Exclusive country clubs that never opened their doors to the public before have not only recently done so, but they’ve drastically lowered their membership costs to boot. This is the time to change whatever you want in life. A larger home for your family. A house near the beach. A membership to the golf club you always wanted. That investment you always coveted. A once in a lifetime window that will close just as quickly as it opened.

Within an economic downturn it’s inevitable that a self-fulfilling prophecy will emerge as negative numbers foster negative attitudes and thinking. But with crisis comes opportunity and in today’s real estate market, “this is an unprecedented time for the driven, aggressive and ambitious person in life to realize their real estate dreams,” states John Aylsworth, Chairman of the Board of Jet Luxury Resorts. “Now, more than ever, is the time to greatly upscale your lifestyle-- Relocate. Upgrade. Travel.”

Experts agree, this is the deepest depression this country has ever seen. Historically, individuals used to be on a first name basis with their bankers. If they needed a loan, they went to the banker and got it. Then, the Seventies came and interest rates went through the roof. That’s when the concept of leverage came into play. Everyone seemed to jump on the leverage bandwagon. Take the first note, slice it and dice it and put it all into a soup for later. This occurred for years and years and occurred worldwide. Now, the leverage machine has caught up with us and all of this debt has to come out. It’s as if the debt were being filled into a constantly filling balloon, with only one tiny 2 inch diameter drain at the bottom. All of that debt has to come out, but even with all of us pushing and squeezing and praying and dreaming, only so much can be pushed through that tiny hole. Meanwhile, the debt keeps inflating the balloon at the top and the balloon stretches and stretches…

The last great recession was in 1983, especially in California when interest rates crested 18% and unemployment was over 10%. What happened then and what’s happening now is not only a deep recession and cutback of spending, but a consumer perception of the recession. And that recession perception is just as important, if not more, for creating the discounts that exist today. It’s the motivated individualist – the one that can separate himself from the crowd, a calculated and informed risk taker, that will capitalize on the current situation. This person will not only make huge financial and investment gains for himself in the long run, but will also contribute to shattering the recession perception and moving the country, and the world, forward.

Jet Luxury Resorts, the premiere national Condo Hotel Resort Management Company, has reflected such positive and forward thinking in its business model- and the results are paying off. The upstart company offers an unprecedented opportunity in the hospitality industry by offering high end, luxurious rental product to consumers while shoring up condo hotel and fractional owners’ monthly rental revenue. ”This is a great environment for Jet Luxury in that, we’re not a developer, we’re not putting millions into dirt. We’re a virtual property that has limitless opportunity. With the global meltdown of the economic market, luxury items that were once inaccessible are now readily available and Jet Luxury Resorts capitalizes on this situation by bringing rare, ultra affluent product to the general marketplace.” The resort management company recently added six new properties to their roster, including the St. Regis Aspen, the St. Regis New York and the Buena Vista Villas in Tulemar Beach, Costa Rica.

Mr. Aylsworth adds, “Jet Luxury is looking for the movers and shakers of the world. Our company reflects such thinking- to capitalize on the downturn to not only move forward, but to upgrade themselves for the rest of their life. In real estate, whether it’s transient or permanent, now, more than ever, is the time to seize the day.”

Condo Hotel Marketplace – An Owner’s Perspective

The condo hotel industry is fraught by outdated models and large corporations unwilling or unable to shift their focus from an ownership position to a management one. These large, well-known companies bring their brand and building expertise to a project, then fail to execute on the very model they create. More and more owners are discovering that they need an independent, loyal representative to ensure their property’s maintenance and revenue. Jet Luxury Resorts is the premiere national condo hotel management company, able to offer exclusive, luxurious yet affordable inventory to the rental community through honest, lucrative and dedicated service to condo hotel and fractional owners.

Todd Spence (CEO of Condo Hotel Marketplace) and Pat Mervine are both condo hotel owners and both are represented by Jet Luxury Resorts. When asked the difference between utilizing a third party management company, both agreed the third party company has the advantage in that it has a better understanding of the condo hotel model and that the company puts the interests of the owner’s first. “Other than having my back, what I want from my management company is to maximize the revenues with my condo and, even more importantly, to take care of my property. Housekeeping, maintenance, upkeep,” says Todd Spence. “When I walk in to the Signature as an owner, after it’s been rented a bunch of times, it looks fantastic. And that’s huge. That creates a sustainable, long-term business model. If my condo looks as good as it does now in five years, than Jet is exceeding my expectations.” Pat Mervine agrees. “Jet has found a niche in the market, doing the best they can with room rates and occupancy, but really focusing on keeping their units clean and having constant, clear communication with their owners.”

When asked what they saw in terms of the future for the condo hotel, Mr. Spence sees the model emerging at the forefront of the hospitality industry. “In the future, resort type property will have to be jointly utilized due to energy efficiency and the efficient use of property. The cost of living on the beach will continue to rise, as will the cost of travel. No longer will it make economic sense to hop on a flight from NY to Vegas for the weekend. People will have to stay longer, and as they do, they’ll come to desire the amenities inherent to a condo hotel. Larger space, kitchens, balconies. And as they experience those amenities, they’ll want them everywhere they go. A condo hotel is much more like a residence.”

As to the current economy and the state of the industry, Mr. Spence believes, “The economics of a condo hotel are just spectacular-- you have to go into it with the right frame of mind. You can’t go into it thinking you can retire and live off the revenues. You have to cover your carrying fees; the mortgage payment will take care of itself as the equity builds. The key: in twenty years, when all of this is just a memory, people will travel again, people are still going to be pulling up to the Signature and getting out their suitcases. And my ownership cost of that property isn’t going to change; it’s never going to change.” Mr. Mervine adds: “Ultimately condo hotels will be successful when there’s profit sharing. Jet will be part of that profit sharing as they are positioned very well to capitalize on that. What Jet recognized from day one, is that if you make your owner’s successful, you will be successful and that is what the hotel companies haven’t understood.”