Which other areas ofthe United States are good potential locations for condo hotels and why? In recent years, several new lodging brands have been introduced by leading hotel chains to the market. Among the names of these brands are DoubleTree, Candlewood Suites, Homewood Suites, Mainstay, Spring Hill Suites,and so on. In addition,there is Hyatt,which recently purchased AmeriSuites, which it has renovated and now call Hyatt Place. A hottrend in lodging developmentis condo hotels. With condo hotels,a developer can more quickly raise the funds necessary from investors than from other traditional sources such as banks and finance houses. As a result, it makessense for developersto encourage investors by offering an arrangementfor ownersto have exclusive use of the unit for a fixed number of days a year (typically 30-60 days) and for the hotel company to rent out the units/roomsfor the remainder ofthe year.The cost of developmentis high and rangesfrom an average of $800 to $900 persquare foot up to $ 1,400. Projects such as the Residences at MGM Grand Las Vegas,which sold more than $ 1 billion, or the Hard Rock Hotel and Casino, also in Las Vegas, which launched 1,300 units in less than ten weeks are amazing.Other areas ofthe United States are good existing or potential marketsfor condo hotel development. Despite the rave reviews on Wall Street for condo hotels, there are some unresolved issues.With time, who will develop and pay for the replacement of furniture fixtures and equipment (FF&E)? What are the associa¬ tion dues and what form will the relationship take between owners, the developer, and the hotel company? There are the additional complexities for the hotel operator—such as space for meetings, restaurants, and recreation—and how many rooms will be available on any given night. Yet, the payoffs for both individual investor-owners and hotel operating companies are good to great. With 78 million baby boomers ready to retire, the prospects look very good to all concerned