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These are generally more upscale properties that people buy for longer periods of time, three weeks or a month.
Most upscale properties are clustered in the north's "prime residential areas" of Cap Estate and Rodney Bay, Ms. Floissac said.
By combining, they are hoping that they will be able to mine each other's customers, drawing some lower rollers to more upscale properties like Bally's and Paris.
Ashford Hospitality Trust, a hotel real estate investment trust, said yesterday that it had agreed to buy 21 hotels from sellers including George Soros for $250 million to gain more upscale properties.
Despite its upscale properties, Taubman Centers, which earned $7.7 million last year on $341 million in revenue (but posted a $8.9 million loss after paying preferred stock dividends), has not outperformed its shopping-mall peers, analysts said.
Estate agents say a rush of "distressed house sales" – when upscale properties are rapidly sold for knockdown prices for cash – has also accompanied politicians' attempts to raise campaign funds.
Similar(33)
The most high-end option, he said, is cobblestone, but it might be worth the expense for an upscale property.
"Even though we are an upscale property, I think that this year consumers are looking for discounts," said Mike McAvinue, general manger of the Mall at Short Hills.
Rentals for a one-bedroom apartment average $850 a month in an older building and more than $1,650 in a new, upscale property.
Scribner's Catskill Lodge Near Hunter Mountain, the town's first upscale property provides cozy beds and sky views for this underserved market.
When you check into a hotel, you should give the porter $1 for each of your bags, but if you're staying at an upscale property such as the Four Seasons or the Ritz-Carlton, $2 to $5 per bag is more appropriate.
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