Business Wire



May 1, 2006 Monday 2:01 PM GMT



Business Editors; Travel & Hospitality Writers



867 words





Expanding Condo Hotel Segment Generates Startup of New Association - The National Association of Condo Hotel Owners



SCOTTSDALE, Ariz. May 1, 2006



Association's Rating System Provides Information Previously Unavailable To The Consumer And Offers Tools To Help Evaluate & Enhance A Condo Hotel Purchase
As condo hotel development continues to boom, a new organization, The National Association of Condo Hotel Owners, provides consumers with tools and information to help them better evaluate and enjoy a condo hotel purchase. The Association furnishes members with access to their unique and exclusive evaluation tools as well as a network of resources to enhance their ownership experience.
Condo hotels are hotels in which some or all of the hotel's rooms are sold to individuals as condominium units. "While the condo hotel concept is not new, it has exploded in the past three years and dominates the industry today because it has tangible advantages both for the consumer and the real estate developer," said Dante Alexander, the Association's President and CEO.
According to Smith Travel Research, as of March 2006, condo hotel rooms make up 98,142 rooms or 19.5% of the hotel rooms currently under development in the U.S. The top markets for condo hotels are Las Vegas, representing nearly one third of the new product, followed by Miami / Ft. Lauderdale, Orlando, NYC/NJ, Chicago, Tampa/St. Petersburg, Myrtle Beach, Boston, and San Diego.
With a horizon full of new developments, The National Association of Condo Hotel Owners' website (www.nacho.us) supplies members with proprietary tools and benefits to help them navigate this surging industry, including:
-- Unique Rating System - Prior to purchasing a condo hotel unit, members can use the association's fair and unbiased rating system, which is based on data similar to a feasibility study at the individual unit level, to make a more informed purchasing decision. Before the Association created this sophisticated economic analysis of condo hotel projects, such information was only available to developers and lenders who could afford feasibility studies, but not to the consumer.
-- Unit Earnings Model - Only available to members on the Association's website is a do-it-yourself unit earnings model for individual condo hotel units. Members plug-in the required numbers, such as annual Home Owner Association fees, property taxes, insurance coverage and rental program participation, and the model calculates the unit's annual net profit or expense. If the owner has some of the required information, the model can automatically fill in certain numbers based on industry averages.
-- Owner Vacation Network Exchange - This members' only section on the website allows unit owners throughout the world to communicate with each other about trading use of their units, offering members a new way to find value in their condo hotel.
Association members also receive the E-News Monitor to keep abreast of industry news and developments. They can access and search the member directory and enjoy special rates at the online store. A wide range of additional benefits will continually be added as strategic alliances are formed.
The Association supports the continued healthy growth of the condo hotel industry, and its ultimate goal is to enhance condo hotel values and developments throughout the industry. This is done by providing a network where unit owners can determine costs associated with a specific property, make more informed decisions regarding a purchase, and ultimately, obtain information where expectations can be met.
According to Alexander, "Condo hotels are more often the best economic choice available for vacation and secondary residences and we provide potential purchasers with the necessary data to make an informed decision. Mark Lunt, an Ernst & Young lodging analyst, said it best: 'Without information like this, it's like buying a stock without checking the prospectus.'"
"The Association's rating service provides a potential purchaser with an objective assessment that can help fill the information vacuum. Viable projects that meet the informed expectations of unit owners will contribute to the health and sustainability of the condo hotel segment," said Russ Savrann, of Graham & Dunn, counsel to the Association.
Dante Alexander, the Founder, President and CEO of the National Association of Condo Hotel Owners, who is also President and COO of Hybrid Lodging LLC, brings more than twenty years of senior management experience in the hospitality industry, including the areas of finance, operations, and development. His strong leadership skills are linked to his broad range of experience with Starwood Hotel & Resorts Worldwide gained over the course of his eight year tenure where he is credited with enabling the company's explosive growth from 33 hotels in 1996 to one the world's leading companies.
Founded in 2006, the National Association of Condo Hotel Owners is a nonprofit association serving condo hotel unit owners as well as developers and hoteliers. The Association is committed to the overall success of the condo hotel industry as well as the satisfaction of unit owners. More information about the Association and membership can be found at: www.nacho.us.



CONTACT: TESS Communications International Teresa Delaney, 212-683-4343 tdelaney@tessci.com http://www.businesswire.com



May 1, 2006

http://www6.lexisnexis.com/publisher/EndUser?Action=UserDisplayFullDocument&orgId=616&topicId=12552&docId=l:381188976&start=16

Written by: Business Wire