Mastering the metropolis through research and thought leadership.
Working Papers

Resort Development

Working paper #672
Howard Kozloff

The second-home resort property market is in the middle of a severe downturn. The prospects for a turnaround are not immediate, and even the most optimistic investors feel that there are many quarters ahead before an uptick in activity. As a result, resort developers are embarking on strategies to minimize capital while maximizing value. Resort developers will need to focus on: lowering risk by lowering upfront investment in infrastructure, high-rise construction, and operations; increasing and maintaining more flexibility and responsiveness to local conditions and the environment; making projects more adaptable so they can be used in multiple ways and for different purposes in the future; remembering that buyers want to feel good about their investment; and bearing in mind that scarcity and differentiation still drive value, more so now than in the past. Truly unique environments, where the experience is defined by the natural setting creating distinctive places with a strong sense of community, still command premiums.

Download full paper · 1MB PDF


In This Section
Explore Topics

1010 Affordable Housing Amazon Amenitization Architecture Artificial Intelligence Asia Australia automation Autonomous Vehicles Borrowing Constraints Brexit California Canada Capital Business China Co-Working Environment coastal markets Colombia Commercial Brokerage Commercial Real Estate commissions Congestion consumer bias covid-19 CRE credit card market Credit Default Swaps Credit Insurance Credit Risk Transfers Culture Data Analytics Data Collection Technology Debt Market Demand Demographics Density Development Discrete Choice disruption Diversity drones e-Commerce Economic Corridors economic policy economics Equity Funds Equity Market Ethnic Factors Europe Fannie Mae financial asset management Foreclosures Foreign Policy France Freddie Mac general equilibrium Global Global Financial Crisis Globalization great depression Great Recession Hedonic Housing & Residential housing boom Housing Disease housing prices Housing Supply Identity Income Inequality India Inter-generational mobility Investing jobs labor market Lagging Regions land use regulation Language Macroeconomics malls Market Pricing megacities Microeconomics Migration Minimum Payments Mixed-Use Mobility moral hazard mortgage insurance mortgage market Mortgage Rates Mortgages Multi-family Nation Building Non-Traditional Mortgages Office Market office sector Placed Based Policies Political Risk Price Discovery Private Equity Business public health Public Schools real estate brokerage Real Estate Investment Real Estate Investment Trusts Recession Rental Retail Retirement reverse mortgages Risk Adjustment risk-shifting robotics single family housing Slums Sorting South America Spatial Regions spillover effect Sub-Prime Mortgages Sustainability Technology trade transportation United States Urban Urbanization Warehouse welfare

arrow_drop_up