Hospitality Industry Takes a Hit, Investors Take Interest
|NewsUSA) – As the real estate market has fallen, more developers have become interested in purchasing bottom-dollar homes to resell when the market recovers. In a similar vein, some businesses are now purchasing hotels.|
One such investment and real estate company, MOD Hospitality, has taken advantage of falling real estate values to buy high-quality hotels and restaurants in strong markets.
“The hospitality industry, as a whole, is taking a beating,” says MOD Hospitality President Frederic S. Richardson. “It’s the perfect opportunity for wily investors to make a profit.”
The company plans to hold and manage the properties for three to five years, or until the value of their investment matures. They recognize that professional property management is crucial, and they only use local property management firms because they know the markets where the properties appeal. Complete operating results are provided to promote investor confidence.
So far, the company has obtained hotel properties in different markets, ranging from boutique hotels to high-quality hotel chain franchises, including a Holiday Inn Express and The Fairfield Inn by Marriott.
More prestigious properties include the New Clinton Hotel, a boutique acquisition located in the heart of South Beach, Miami, Fla. Situated on Washington Avenue, the hotel is surrounded by diverse restaurants, trendy shops and lively bars. Also located in Miami Beach, the The Hotel Astor Miami Beach is a luxury boutique hotel with Art Deco flair. The hotel and its new Maison d’Azur Restaurant are favorite destinations for celebrities, artists and fashion photographers, as well as business executives.
While the economic downturn strains the hospitality industry, hotels and restaurants seem ripe for investment. In using a company such as MOD Hospitality, which carefully researches potential properties and expertly handles their management, investors are able to benefit from the hospitality industry while taking less risk.
For more information, visit www.eastcoastventures.com. MOD Hospitality trades on the OTC.BB under the symbol MODY.OB.