THE DECADE AHEAD: DIRECTIONS IN REAL ESTATE Travel Experience and - PowerPoint PPT Presentation

2020 OUTLOOK – THE DECADE AHEAD: DIRECTIONS IN REAL ESTATE Travel Experience and Trends Council September 20, 2019 Adam Ducker, Senior Managing Director

10 NEW DIRECTIONS IN DESTINATION HOUSING, HOSPITALITY AND RETAIL INNOVATIONS SEEN IN URBAN MARKETS COMING TO A DESTINATION NEAR YOU(?) You can rent it? 1. Housing and hospitality blur 2. I live here! 3. House and location disaggregate 4. The rise of cute 5. “Super condo” is the new single -family 6. More modern, more simple (cheaper to build?) 7. Glamping goes mainstream 8. The crash pad phenomenon 9. 10. Pop up retail for real (Or, retail is craft) Source: RCLCO Travel Experience and Trends Council | 9/20/2019 | 2

1. YOU CAN RENT IT? 79 West; Historic and Current Renter Households by Age Bracket, 2005-2016; Panama City Beach, Florida Washington, D.C. 80,000 30% 27% 70,000 25% 60,000 20% 50,000 19% 15% 40,000 15% 15% 30,000 10% 20,000 5% 10,000 0 0% Under 35 35 to 55 55 to 75 75+ 2005 2016 % Increase Overture Orlando Existing Mature Affluent Renters, 55-74 Orlando; Florida Washington, D.C. 30,000 25,000 20,000 15,000 10,000 5,000 0 $50,000 - $75,000 $75,000 - $100,000 $100,000 - $150,000 Over $150,000 2005 2010 2016 Source: US Census; RCLCO Travel Experience and Trends Council | 9/20/2019 | 3

2. HOUSING HOSPITALITY BLUR Apartment Hotel Corporate Housing Co-Living Home Sharing -- Home Sharing -- Apartment Extended Stay Service Digital Solution Hospitality Hotel Common Brands Source: RCLCO Travel Experience and Trends Council | 9/20/2019 | 4

3. I LIVE HERE! Sizing the “Gig Economy” Highest Rates School Districts United States Colorado Cheyenne Mountain (Colorado Springs) 1. Aspen 2. Telluride 3. Cherry Creek (Denver) 4. Boulder 5. Littleton (Denver) 6. Steamboat Springs 7. Poudre (Fort Collins) 8. Lewis Colony (Monument) 9. Academy (Colorado Springs) 10. New Co-Working Space – “Ski Locker” Steamboat Springs, Colorado Source: Pew Trust Research; Niche Schools Ranking; RCLCO Travel Experience and Trends Council | 9/20/2019 | 5

4. HOUSE AND LOCATION DISAGGREGATE Portable Home and Racking System “ Kasita ” Mobile Tiny Homes Manufacturer “Escape” Source: Developer Websites; RCLCO Travel Experience and Trends Council | 9/20/2019 | 6

5. THE RISE OF CUTE Days on Market by Unit Type Lakeside Cabins Snowmass Village, CO; 2013-2019 Moonlight Basin; Big Sky, Montana 1,000 900 800 700 600 Days on Market 500 400 Cape Arundel Cottage Preserve Cape Arundel, Maine 300 200 100 0 1970 1980 1990 2000 2010 Year Built 4-BR+ 3-BR 2-BR 1-BR Linear (4-BR+) Linear (3-BR) Linear (2-BR) Linear (1-BR) Source: David Viehman; RealQuest; RCLCO Travel Experience and Trends Council | 9/20/2019 | 7

6. “SUPER CONDO” IS THE NEW SINGLE -FAMILY Existing Large Lot Single-Family The Balsam Lonely, Dated, Expensive to Maintain Boulder, Colorado Cleo at Playa Vista Casita at El Dorado Los Angeles, Calfornia San Jose del Cabo, Mexico Source: Developer Websites; RCLCO Travel Experience and Trends Council | 9/20/2019 | 8

7. MORE SIMPLE, MORE MODERN (CHEAPER TO BUILD?) Limelight Hotel Moreland Village Ketchum, Idaho Palmetto Bluff; South Carolina Source: Developer Websites; RCLCO Travel Experience and Trends Council | 9/20/2019 | 9

8. THE CRASH PAD PHENOMENON Yotel Pad Bivvi Hostel Canyons; Park City, Utah Breckenridge, Colorado Source: Developer Websites; RCLCO Travel Experience and Trends Council | 9/20/2019 | 10

9. GLAMPING GOES MAINSTREAM Playa Papaya Project – Semi-Permanance El Cosmico – Product Type Proliferation Tulum, Mexico Marfa, Texas ArtisTree Lake Travis, Texas Source: Developer Websites; RCLCO Travel Experience and Trends Council | 9/20/2019 | 11

10. POP UP RETAIL FOR REAL The Pop Shop Kombi Bar Stratton, Vermont Bondi Beach; Sydney, Australia Pop Up Craft Market Pop Up Beer Garden Not in a Resort Not in a Resort Source: Developer Websites; RCLCO Travel Experience and Trends Council | 9/20/2019 | 12

AUSTIN LA ORLANDO DC 221 W 6th St 11601 Wilshire Blvd 964 Lake Baldwin Ln 7200 Wisconsin Ave Suite 2030 Suite 1650 Suite 100 Suite 1110 Austin, TX 78701 Los Angeles, CA 90025 Orlando, FL 32814 Bethesda, MD 20814 Adam Ducker Managing Director P: (240) 644-0980 E: ADUCKER@RCLCO.COM W: RCLCO.COM