As I mentioned in a previous post, Argentina’s booming economy and real estate market are presenting unparalleled investment opportunities every day, and are attracting savvy international investors from all over the world, including us. When approaching the real estate market, we felt that an ideal investment sector for ourselves and our investors would be the hospitality sector. I personally feel that identifying underperforming commercial properties and repositioning them into hotel or mixed-use properties is a formula for success.
Argentina’s uninterrupted property appreciation has roughly seen a 50% increase in real estate values since overcoming its financial crisis in 2002. So it’s logical to me that, while property appreciation alone may be well worth the initial investment, capitalizing on that investment to create an additional primary source of income should be our ultimate goal. A successful luxury boutique hotel such as Algodon Mansion may potentially generate multiple revenue sources from a single piece of property. That’s good news to me.
While the Algodon Mansion will serve as a high-end, private hotel for distinguished guests, we also hope to appeal to the local community with the restaurant, lounge and spa. Our goal in the property’s renewal is to reclaim the old world charm and sophistication of its original 1912 architecture, while at the same time denoting an aesthetic value of modern elegance and functionality. We’re all proud of it. By respecting and maintaining the integrity of the building’s original facade, we believe the finished product will add to the beautification of the neighborhood; attracting a loyal customer base and becoming a travel destination for both the local community and visitors to Buenos Aires.
Next week I’ll talk about the name we’ve chosen for the hotel brand, and how we reached the decision to call our project “Algodon.”
Have a great week!
--Scott Mathis
Monday, May 19, 2008
Formula For Success
As I mentioned in a previous post, Argentina’s booming economy and real estate market are presenting unparalleled investment opportunities every day, and are attracting savvy international investors from all over the world, including us. When approaching the real estate market, we felt that an ideal investment sector for ourselves and our investors would be the hospitality sector. I personally feel that identifying underperforming commercial properties and repositioning them into hotel or mixed-use properties is a formula for success.
Argentina’s uninterrupted property appreciation has roughly seen a 50% increase in real estate values since overcoming its financial crisis in 2002. So it’s logical to me that, while property appreciation alone may be well worth the initial investment, capitalizing on that investment to create an additional primary source of income should be our ultimate goal. A successful luxury boutique hotel such as Algodon Mansion may potentially generate multiple revenue sources from a single piece of property. That’s good news to me.
While the Algodon Mansion will serve as a high-end, private hotel for distinguished guests, we also hope to appeal to the local community with the restaurant, lounge and spa. Our goal in the property’s renewal is to reclaim the old world charm and sophistication of its original 1912 architecture, while at the same time denoting an aesthetic value of modern elegance and functionality. We’re all proud of it. By respecting and maintaining the integrity of the building’s original facade, we believe the finished product will add to the beautification of the neighborhood; attracting a loyal customer base and becoming a travel destination for both the local community and visitors to Buenos Aires.
Next week I’ll talk about the name we’ve chosen for the hotel brand, and how we reached the decision to call our project “Algodon.”
Have a great week!
--Scott Mathis
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