Luxury Vacation Rentals Offers Service on Par With Traditional Hotels

Industry Survey Looks at Consumer Perception of Vacation Rental Experience

ENGLEWOOD, Colo. – Nov. 8, 2006 – Gone are the days when vacationers have to bring their own sheets or towels when staying at a vacation rental as residential resorts offer amenities and services on par with traditional hotels. A recent survey conducted by Destination Hotels & Resorts illustrates how consumers recognize this shift over the years as upscale vacation rental resorts now offer enhanced amenities and services found at mainstream properties.

Approximately 3,000 consumers who have taken a vacation in the past three years to either a traditional hotel or vacation rental property responded to the Destination survey. “Vacation rental” was defined as vacation home, condominium, townhouse and condominium-hotel for the purpose of this survey.

“Vacation rentals have evolved over the years to offer a complete array of services and amenities not previously offered to vacationers,” said Maureen Callahan, vice president of marketing for Destination Hotels & Resorts. “Concierge service, a 24-hour front desk, daily housekeeping and a host of additional services now are standard at many vacation rentals. With this evolution in the product, we wanted to ensure we understood what was important to consumers so we can continue to enhance and improve the vacation rental experience within our collection.”

Destination Hotels & Resorts was among the first hospitality management companies in the industry to offer some of these services and amenities with the opening of The Gant, a luxury condominium resort in Aspen, in 1973. Since then Destination has grown its vacation rental portfolio to include more than 2,000 units offering upscale services and amenities.

The Destination survey showed that consumers recognize this evolution in the vacation rental segment as 78 percent responded they believe residential resorts provide the same level of service as traditional hotels.

When probing about amenities that were important in a vacation rental experience, respondents noted in order of importance – cable television, spa/golf amenities, daily housekeeping, high-speed internet access and front desk services among their top preferences. Items of less importance were room service, grocery delivery and shuttle transportation.

“This information is invaluable,” said Callahan. “It validates what we are doing with our owners to continually update and upgrade their units to provide the latest guest amenities, while providing us with insight to what is most important to our consumers.”

Destination also asked travelers why they tend to choose luxury vacation rentals over traditional hotels and resorts and “space” consistently ranked at the top of their list. Cost savings and traveling with multiple people also ranked in the top four reasons for selecting a residential style accommodation. Vacationers also noted that they are more likely to choose a luxury vacation rental for a family vacation or group outing such as a golf or ski trip.

According to the survey results, 99 percent of customers who have stayed in a luxury vacation rental would choose this style of accommodation in the future.

Destination Hotels & Resort is an industry leader with more than 2,000 private vacation rentals available; most of which are located in full-service, premiere resort destinations. The company started with the opening of The Gant in Aspen in 1973. The Gant is an upscale condominium resort, which opened in a manner that was revolutionary for the hospitality industry with a front desk, concierge service and other resort-style amenities. The company now manages luxury vacation rentals from coast-to-coast ad most recently added the ultra-luxury Wailea Beach Villas in Maui, Hawaii. For more special offers and details on the Destination vacation collection, please visit www.destinationvacationrental.com.

Destination recently opened its newest luxury vacation rental with the opening of Wailea Beach Villas in May. Wailea Beach Villas is an elite oceanfront property set amidst an 11-acre tropical garden. The resort consists of 98 villas and penthouses overlooking the famed Wailea Beach, which is consistently rated one of the most beautiful beaches in the world. The property’s prestigious location offers the privacy, space and comfort of a residential retreat, while providing the convenience, service and amenities of a destination resort. The resort is conveniently adjacent to The Shops at Wailea, a myriad of eateries and neighbor to an array of world-class, full-service luxury hotels and destination spas.

Resort at Squaw Creek, another Destination property, recently completed a 14-month, $53 million conversion to privately owned luxury residential units. The units, although owned privately, still are rented nightly as hotel rooms to guests who now receive a more spacious, upscale resort experience with new rooms and enhanced facilities.

Destination Hotels & Resorts is a privately held lodging management company headquartered in suburban Denver, Colo. With 30 independent, luxury and upscale hotels, resorts and golf clubs, Destination is the fifth largest independent hospitality management company in the country. The company’s portfolio features more than 7,000 guest rooms, 13 golf courses and 10 full-service spas. Destination Hotels & Resorts properties are located in key metropolitan and resort markets including Washington, D.C., Houston, Chicago, Denver, Dallas, San Diego, Aspen, Austin, Phoenix, Palm Springs, Jackson Hole, Maui and Lake Tahoe. For more information on the properties in the Destination Hotels & Resorts collection, please visit www.destinationhotels.com.

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High resolution, downloadable photos of properties in the Destination Hotels & Resorts vacation collection are available at www.leonardo.com/destination.

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