SecondMarket
2011 in retrospect
What I learned from work in 2011:
I funded my first ever property investment with my own company funded completely out of my own pocket working in hotel development. My work in development has helped me make better investment decisions when it comes to property investments. I learned how to analyze a project to determine its feasibility. I learned what types of questions to ask when it comes to investing in property. I learned how to understand the contracts and terms and what to be cautious. I learned how to read and analyze the pro forma, calculate the numbers, calculate the ROI, revenues, expenses, cash flow, etc. I learned what to consider when looking at a potential project, its location, its market, its profitability, its business cycle, and its SWOT. I learned how to work with developer and construction company to make a project from idea conception to reality. I learned the development process. I learned the hurdles of obtaining construction financing, and all the sides involved. I learned how to carefully read a hotel management contract. I learned what it’s like to prepare for a groundbreaking ceremony. I learned how to handle construction fund. I learned how to obtain FF&E financing. I learned the different design options and the cost & benefit of each type. I learned what it’s like to have a hotel go through renovation. I learned how to work with the designer and the vendor…
What I learned from personal life in 2011:
Respect, trust, humor, patience, optimism, and acceptance. I learned to respect others in their opinions and perspectives. I learned not to be judgmental and mean without giving people a chance to show you who they are. I learned that each individual person’s life has value. After all, they are someone’s daughter, someone’s son, someone’s brother, someone’s sister… They were all once cared for. I learned that trust takes time. I learned that humor makes situations less awkward. I learned that a little patience goes a long way. I learned to accept who I am and who others are. It is only when we could accept ourselves that others can accept us. I learn to stay positive and see the beauty in grim situations, because life can be miserable without positivity. I learned to see the good in people and be cautious of the bad.
Roomkey.com
Six hotel giants team up to launch hotel search engine Roomkey.com. The site looks user-friendly. It’s still in beta mode, but if the brands really invest in it, it should give OTAs and Google Hotel Finder a run for their money. Pro: it’s directly linked to brands’ CRS. Con: It’s in competition against all the other hotel search engines and travel sites out there. Only time will tell if Roomkey.com will become a booking giant, but we should all keep a close eye on it.
[Source: TechCrunch] “In an unexpected move, six of the largest hotel companies in the world have partnered to launch a hotel search engine of their own, dubbedRoomkey.com. The hotel companies hope that offering a ‘personalized experience’ and ‘accurate information’ will make travelers choose for them when they search for accommodation.
Choice Hotels International, Hilton Worldwide, Hyatt Hotels Corporation, InterContinental Hotels Group, Marriott International and Wyndham Hotel Group teamed up to start Roomkey.com to, in their own words, “provide travelers a search and book experience tailored for ease of hotel shopping through an uncluttered and trustworthy site”.
Roomkey.com users can look for and book properties at all – but only those – six hotel chains involved, including their affiliates. Later on, the hotel companies say, the site will also offer independent reviews, and the ability to compare, plan and share with friends and family.”
The Drake Hotel Toronto (music+art+culture+lodging)
I first saw this video at my Experience Marketing course at Cornell. Professor Kwortnik showed this to the class and I was immediately intrigued by the coolness of both the hotel concept and their style. The film captured the youthful essence of Generation Y and the things that shape the generation: music, art, and culture. After seeing the video for the first time, my initial reaction was: I want to stay there too, and I want to be like them. The Drake Hotel Toronto targets a specific demographic but did well attracting its audience because they show their target market what they want, what they should want, and what they could and will experience if they visit The Drake Hotel.
Architecture Notes
One of my lifelong interests, besides music, is architecture. I’m planning a self-guided architectural tour of southern California. Before doing so, I need to do some due diligence. Here are some of my notes.
Living West – New Residential Architecture in Southern California
By Sam Lubell
Southern California
- One of the most varied urban fabrics in the US, if not the world.
- Freedom from established, accepted aesthetics, from space limitations found in denser cities, and from harsh climates that limit a house’s form and how it can interact with its surroundings. That freedom, combined with enlightened clients and a love for the single-family house, has made Southern California a center for residential innovation and experimentation for over a century.
- Some known architects: Frank Lloyd Wright, Rudolph Schindler, Richard Neutra, Charles and Ray Eames, John Lautner, Pierre Koenig, Frank Gehry, Richard Meier
Escher GuneWardena’s Jamie Residence in Pasadena—rectangular structure lofted high in the air like a bridge to provide breathtaking views and minimize disruption of the land underneath
Patrick Tighe’s Tigertail—with its angular, cantilevered second-floor roof shaped like an airplane wing
Johnston Marklee’s Hill House—seamless envelope and precarious site on the side of a steep ravine
Wallace Cunningham’s Crescent House—multiple ramps, terraces, and curving concrete forms—as much sculpture as house
Griffin Enright’s Point Dume residence—curves sinuously in response to its lpt’s natural undulations; its cladding and interior fittings were also chosen to match the surrounding landscape
Safdie Rabine’s Tree House in San Diego—perched on the edge of a heavily wooded ravine, outsized sliding doors and clerestory windows open so completely that birds fly through as if it were part of the forest itself
Sustainable materials and prefabrication techniques, solar panels, radiant heating, gray water treatment, recycled materials, carefully designed passive ventilation and cooling
Others:
Solar Umbrella House by Pugh+Scarpa
Office of Mobile Design
Da Maria Design’s Redondo Beach house—formed of shipping containers
Whitney Sander
Ray Kappe offers warm, intricate, light-infused pre-fab structures that can be configured in numerous ways—to suit individual sites—through the LivingHomes company
Techentin Buckingham
Daly Kenik
Aleks Istanbullu
Agps.architecture and Olson Sundberg Kundig Allen
Lloyd Russell—R3 Triangle Building in San Diego
Michele Saee—Linnie House
Belzberg Architects—styrofoam, Sarnafil, polycarbonate, fiberglass, Grailcoat, Trespa panels
Cliffside:
- Belzberg Architects—Skyline Residence 2008 (Mulholland Dr., Los Angeles)
- Johnston Marklee—HillHouse—Pacific Palisades 2004 (Grail Coat)
- Callas Shortridge Architects—Rochman House, Los Angeles 2000
- Predock Frane Architects—Twin houses, Pacific Palisades 2008
- Escher GuneWardena Architecture—Pasadena 2000—Jamie House 2,200 sf
- Safdie Rabines Architects—Tree House, San Diego 2000
- 1,400 sf Goldfinch Canyon, San Diego, Mission Hills
- 3 level, steel-framed, timber-clad structure
- Consists of 4 main, interconnected zones, wach on a different plane: living room, kitchen, master bedroom, and rooftop deck
Hotel Music
People who know me long enough know that music is a big part of my life. I used to be a (somewhat) serious musician before I decided to go to business school. In fact, I think it was my music that got me into college (since I spent all my supposed studying hours watching TV). It was my Brahms Intermezzo op. 118 no. 2 recording that got me a phone call from a certain professor at the music department.
I even had a keyboard next to my bed in my dorm suite at UCSB so I could play whenever I want. haha, my roommate could tell you she used to walk by that thing everyday getting in and out of our room. My love for music never went away, not even now.
I’ve got some brilliant ideas cooking. I was searching “music hotels” (something big is going to happen) and this site came up. Interesting since I’m involved in the hotel business now. And I’m getting back into my musical roots. As someone looking to get more involved in the music business this year, I’m doing some due diligence. Some info from musicworksforyou.com
75% of hotel guests like to hear music in the lobbies, bars, restaurants and public spaces.
More than 1 in 4 people are prepared to pay 5% more on food or drink in hotel restaurants and bars if they played hotel music. Hotels that embrace music can positively impact customer loyalty and their ability to drive up profits.
More than 1 in 4 people are prepared to pay 5% more on food or drink in hotel restaurants and bars if the hotel played music. Hotels that embrace music can positively impact customer loyalty and their ability to drive up profits.
Read more here
FoundersCard 2012 Hotel Additions
As a member, I’ve already experienced the awesomeness of FoundersCard when I got my initiation fee waived for signing up with Equinox. (The benefits and marginal cost more than covers the membership fee, many times over.) Now they’re telling me they will be adding even more cool hotels to their already cool portfolio of hotel benefits. And these are Holiday Inns or Hiltons, these are the cooler hotels that we 20 somethings usually want to stat at. Four Seasons, Kimpton, Thompson, Starwood, Mandarin Oriental, Park Hyatt, and other ’boutique’ hotels. Here’s an email announcement I got from them today.
Dear Vivian,
I hope that you had a great Holiday Season and a Happy New Year. This year is sure to be an amazing one for FoundersCard as we plan to add many new exciting member benefits, features, and events throughout the year.
For starters, I am pleased to announce our 2012 FC Hotel Program with over 50 new carefully-selected properties to add to our growing collection. As many of you know, our Hotel Program was created specifically to meet the needs of entrepreneurs by making sure you receive flexible cancellation policies, the ability to earn loyalty points, meaningful value add such as upgrades and free wifi, and most importantly, exceptional rates. Staying true to these principles, we have directly negotiated with each new hotel partner, forgoing commission to secure the best possible terms.
Among the highlights of our 50 new properties:
- New brands represented including Four Seasons (Atlanta and soon-to-be added San Francisco) and Joie de Vivre (six hotels throughout Silicon Valley)
- Over 20 new locations including Fort Lauderdale, Santa Monica, New Orleans, Madrid, and soon-to be added Helsinki
- More lower priced boutique properties such as Kimpton, Aloft, Thompson, and Yotel
- Exceptional rates at some of the world’s very hottest and most highly-ranked properties including Mandarin Oriental Barcelona, XV Beacon in Boston, Fasano Hotel in Rio, and Hotel Vitale
- Additional hotels in our most popular cities (New York and San Francisco) and from our most popular brands (Starwood, Mandarin Oriental, and Park Hyatt)
To further explore the 2012 FC Hotel program, please logon to our members site. Thank you to all of our members who have provided incredibly helpful input and feedback over the past months. There are additional properties on the way including the W Hotels in Paris and New York Union Square, and we will continue to add hotels throughout 2012, so please keep the suggestions coming.
Best wishes for a fantastic 2012!
Eric
FOUNDERSCARD
Eric Kuhn
Founder and CEO
Ailanto Wellness Resort & Spa (La Fortuna de Bagaces, Costa Rica)
As a social entrepreneur and property developer, I look for opportunities inside and outside of the US. I was introduced to this project by someone involved and decided to become an investor of this eco development. Below, I have posted some information about this eco resort. If you are planning to visit Costa Rica, don’t miss out on the opportunity to experience your tropical holiday at Ailanto Wellness Resort & Spa. Please feel welcome to contact me for more information. email: vivian@royalredhospitality.com
A Master Planned Planned Eco Community
Ailanto – A master Planned ECO Community residing amongst 83 acres of exotic, ecological forest. Only 45 minutes from the Liberia Airport, Ailanto lies in the midst of all the major tourist attractions, beaches, and the spectacular nature of Costa Rica.
Ailanto borders the Miravalles Volcano Protected area. The Miravalles Volcano is the tallest in the Guanacaste area and from its slopes, provides hot springs enjoyed by all at the pools in Ailanto.
Ailanto has Thermal Water Pools, Hiking Trails, Lake Stocked with Tilapia. Ailanto is building an Event Center, Medical and Shopping Center, Restaurant, Casino, Wedding, Botanical and Organic Gardens, Spa and Costa Rica’s Unique Indian Village where you can enjoy the Meso American Therapies.
Exuberant nature surrounds the Eco community, enjoy the area’s flora and fauna, which includes monkeys, pisotes, toucans, parrots, iguanas, wild duck and turkey, porcupine, cotton tail deer, turtles, we count 32 bird species that make Ailanto their home.
Location
Ailanto is located in the province of Guanacaste and the town of Bagaces. It is situated190 km from San Jose’, the capital of Costa Rica, and lies along the Inter-American highway just south of Liberia.
Tourists take the small rural roads to visit the main attraction of Bagaces: the Miravalles Volcano region. Here they enjoy the lakes, creeks, mineral spas, and the hot springs of the Miravalles Volcano. Just to the south of Bagaces, tourists can visit the Palo Verde National Park and the Lomas de Barbudal Biological Station. Bird watching, nature hiking, camping, and mountain biking are favorite activities in this area. Also nearby, the area of Cabro Muco has beautiful waterfalls surrounded by several lakes.
Tramonto Hotel - Taking Resverations Now
Inti SunPlex, Kiva Complex, Malekus Palenque
Natural Spa
Temazcales, Yoga, Meditation, Massaging, Thermal Pools
Medical Center
Aesthetic, Anti-Aging, Geriatric, General, Homeopathic, Naturopathic, Dental
Shopping Center & Casino
Supermarket, Movie Theater, Churrasqueria, Shops, Pizzeria, Coffee shop
Bio-Fit Gym Center
Latin Dancing, Aerobics, Spinning Center, Yoga, Exercise
Private/Gated
Self contained Green Community
Five Subdivisions
Los Altos, Paraiso, Lago, Villas del Sol, Las Estancias
Campgrounds - Taking Reservation Now
Ailanto features several Hostel Houses, replica Native American Teepees, Aztec and Mayan Huts and Incan Chozas, warm thermal pools, and a fishing lake. To read more…
Four Seasons Resort, Grenada
I’ve been following this project ever since I was first introduced to it by a private investment banker during the end of 2010. A Four Seasons luxury beach resort, residential community and private membership club were proposed to be developed on the Caribbean island of Grenada. It’s planned to be a 546 acre waterfront property and includes an 81 acre archipelago and 153 acre National Dove Sanctuary (which the developer created and permanently conveyed to the government of Grenada). Zoning and government concessions are in place. The ownership group has already acquired the land debt-free, recently appraised at $102 million. They are seeking $150 million in debt or equity to fund construction.
Grenada is not the most economically stable island nation in the Caribbean. The country itself had been going through financial difficulties that have been hard affected by the global economic crisis. Because of a project at this scale, it had been difficult to obtain capital of any type, be it debt or equity. Another issue this project and its developers faced was the local concern/opposition of the project’s threat to the site’s growingly extinct wildlife.
There have been some rumors that the Four Seasons project had attracted the interest of a Chinese investment company, but the outcome of their discussions and progression of this project seem uncertain. I do not know the current status of this project and will contact my source to get more information. Construction financing seems to be the biggest hurdle for them right now, but I sincerely hope this development takes off in the future.
http://www.bimre.com/grenadas-four-seasons-resort-future-funding-questioned/
2011 in review
The WordPress.com stats helper monkeys prepared a 2011 annual report for this blog.
Here’s an excerpt:
A San Francisco cable car holds 60 people. This blog was viewed about 2,100 times in 2011. If it were a cable car, it would take about 35 trips to carry that many people.
