Tag: boom

Travel In India To Boom Again With 50% People Making Plans Already, Reveals Travel Survey By FICCI And Thrillophilia

NEW DELHI, Nov. 6, 2020 /PRNewswire/ — While the lockdown put a ban on travelling across India, it could not however curb people’s desire to explore new places. A recent survey conducted by FICCI and Thrillophilia across India, revealed that while more than 50% plan to travel in the next 2 months alone, 33% are making plans to travel twice of what they did in 2019 as the next year rolls in.

Conducted in October 2020 with most respondents belonging to major metropolitan cities in India, this survey was aimed towards understanding the post-COVID preferences of Indian travellers and covered aspects like safety measures, accommodations, modes of transport, etc. “It is interesting to know that 65% of respondents said they are comfortable travelling outside their states in flights or personal vehicles, and around 90% comfortable in exploring offbeat places in the mountains, beaches, smaller villages or towns, and alike. This can help the stakeholders of the travel industry to redesign their services in line with inclinations of the travellers, thus opening up opportunities for both new and old business avenues,” Mr Abhishek Daga, the co-founder of Thrillophilia quoted.

Elucidating on the survey, Mr Dilip Chenoy, the Secretary-General of FICCI, said, “The impact of the COVID-19 pandemic on the travel, tourism and hospitality industry has changed the way travel and hospitality businesses have to function and manage their operations. We are looking at a tectonic shift in consumer behaviour pattern and the way of travelling. The future of travel, tourism and hospitality industry will be completely different with a new set of rules laying more emphasis on social distancing, safety, health and hygiene.”

While 43% of the travellers choose ‘need a weekend break’ which topped the list of reasons why people want to travel post-COVID, around 33% of travellers also said that they would go for a workation amidst nature for their first post-pandemic trip, albeit with their own closed group of friends or family. This adds to the glint of hope for the travel industry that has been taking the necessary precautions to ensure public safety.

“Thrillophilia has been looking for ways to help the travel industry recover from the adversities of this pandemic. Our work with FICCI to conduct this survey has given us some very compelling results that can prove to be a boon for those who have suffered losses during the pandemic. We have also been working closely with many state tourism boards in India to support local tourism and have brought 10,000+ experiences online in the last 5 months. Government’s proactiveness in ensuring safety for every individual has assured people of safety which plays an important role in lifting this industry and bringing it back to its feet,” Mr Daga added.

With the numbers showcasing optimism in every direction, it is not a distant dream for travellers across India to start venturing out, eventually helping businesses return to their former glory.

Download the Complete Report of Travel Bounceback in India

Continue reading

Coronavirus is driving a vacation town real estate boom

In another sign of how the pandemic is reshaping America, communities that have traditionally been seen as vacation spots have experienced a buying boom as housing tastes have shifted.



a large body of water in front of a lake surrounded by trees: Lake home viewed at dusk across the water.


© Perry Mastrovito/Getty Images
Lake home viewed at dusk across the water.

Bankrate previously analyzed USPS change of address data and found that over the summer this trend was especially strong in New York, where many Manhattan residents decamped to the Hamptons on Long Island’s east end – traditionally a summer weekend playground for the city’s wealthy, but not somewhere most people would have their mail redirected to.

Loading...

Load Error

The Hamptons as a case study

“I’ve never seen anything quite like this,” said Brendan Skislock, lead broker on Douglas Elliman’s Skislock Frezzo Team, which focuses on the Hamptons. “We’ve always had inventory, and now that inventory has really been depleted.”

He said that low inventory is leading to many situations with multiple offers on existing homes, an unusual trend in an area that generally appeals to a relatively limited pool of very wealthy buyers.

That’s also led some potential homebuyers to be closed out of the market, especially in the early days of the pandemic when there was a flood of movers.

“You had people who were hemming and hawing, and unfortunately those were the people that the prices kept spiking up and up, to the point where some people could not find places to stay out here to rent or to purchase,” Skislock says.

This sort of thing isn’t just happening on Long Island’s east end, either.

Vacation towns are growing all around the country

Whether they’re beach villages or mountain getaways, vacation communities of all types have seen a spike in real estate interest in the last six months.

Gay Cororaton, director of housing and commercial research at the National Association of Realtors, said home sales in vacation communities were up 1 percent between May and September 2020 compared with the same period in 2019. That equates to about 30,000 more sales in those areas this year than last.

On the surface, 1 percent may not seem like a major increase, but Cororaton said it is, especially in vacation towns. For one thing, she said, sales in traditional second-home communities are outpacing the national average. But that’s not the only reason this spike has made such an impression.

“Vacation home counties are typically small areas, so,” she said, “it’s more noticeable.”

And people have indeed noticed, according to Cororaton.

“The feedback that we’re getting just anecdotally is that there’s a jump in these vacation counties,” which includes seaside destinations like areas in Maine, New Jersey and Delaware, and ski resorts like Lake Tahoe and Salt Lake City.

Now’s a good time to offload your second home

Because demand has been so high, Skislock said he’s been encouraging potential clients to take advantage of the seller’s market if they’re considering changing up their real estate portfolio.

“People that are thinking of putting their houses on the market, maybe because

Continue reading

Luxury housing market inspires ‘total frenzy’ in vacation-home boom towns like Aspen, Palm Beach and Lake Tahoe

In the third quarter, luxury home sales jumped 41.5%, the biggest year-over-year shift since 2013, according to Redfin. And while real estate agents repping luxury homes aren’t seeing as many bidding wars as they did this summer, the message across the company was the same: their respective markets are crazy right now.

“What we’re seeing here in Palm Beach is a total frenzy,” Dana Koch, a sales associate with Corcoran Group, the Koch Team in Palm Beach, told HousingWire. “I’ve had many conversations with clients of mine from late April through early July, the margin was total pandemonium. And, since early July to now, it’s just getting very busy.”

A recent report from Douglas Elliman and Miller Samuel revealed that the average home price in Q3 in Palm Beach was $7 million. Contracts during this time also skyrocketed 62%.

While the Palm Beach market has not seen a lot of bidding wars, Koch said that a lot of the inventory has been absorbed and properties are getting multiple offers.

Since it’s a summer destination, Palm Beach’s busy season for home-buying starts on Nov. 1, and runs through May 1. Koch said that since this summer — typically the home-buying off-season — was busy for buyers, he thinks it will only get crazier.

“We normally average roughly like $200 plus million on an annual basis, and during the first three quarters, we’ve sold $350 million worth of real estate,” Koch said. “So it’s been a crazy year. It’s been a very profitable year.”


NAMB leads brokers in advocating for consumer data privacy

The National Association of Mortgage Brokers has been advocating for mortgage brokers for almost 50 years. We spoke with NAMB’s President and NAMB’s lobbyist about the organization’s past and current legislative efforts.

Presented by: NAMB

Over where the weather is colder, Steven Shane, a Compass real estate agent in Aspen, Colorado, said that buyers are coming from all over Texas, Florida, New York and California.

Shane said that schools in Aspen have increased their enrollment, as families are putting their roots down where they can have more space.

“I think that there’s a lot of people who rented, put their kids into school, and now, interest rates are so low, if you think about it, it makes a heck of a lot more sense to buy something than to pay rent,” Shane said. “So a lot of the people who came here initially may have rented just to get a place and now are looking to buy a home.”

From hiking to skiing and fishing, Shane said that people want to be able to get out and be able to stretch their legs if they’re working from home, and they can do that in Aspen.

“People learned that they can work from anywhere,” Shane said. “For the most part, people can work remotely, and their children might be attending school remotely. So why not be in Aspen, Greenwich, Connecticut, or the Hamptons?”

Speaking of the Hamptons, as

Continue reading

How Greenville scored March Madness: A buzzer beater bid, a bit of magic and a hotel boom | Greenville Business

Three years ago, Greenville saw an opportunity — but it had to hustle if it was to end its 15-year walk in the March Madness wilderness.

North Carolina was arguing over bathrooms.

Thus, the governing body of college athletics was looking for new host sites for the first and second rounds of its men’s basketball tournament, one of the nation’s brightest sports stages and a billion-dollar moneymaker.

Suddenly, Greenville was on the clock. And with possibly as much to lose as to gain.

Leaders had been preparing a long-term bid to host a tournament at the Bon Secours Wellness Arena ever since the National Collegiate Athletics Association ended its boycott of the state upon the legislature’s removal of the Confederate battle flag from statehouse grounds in 2015.

This was an opportunity to show, not tell. The bid was put together within mere days.

The rest is history.



Work from home? Greenville Triumph aim to host league championship game in the Upstate

This week, Greenville was awarded early rounds for both the 2026 men’s tournament and the 2023 women’s. The city already is set to host the men in 2022 and, if not for the coronavirus, would have hosted the women this past spring.

The audition, it turns out, meant everything.

“We over-delivered in 2017, in a very short amount of time,” Beth Paul, the arena’s general manager, told The Post and Courier this week. “We will reap the benefits of putting together that bid within a matter of days for years to come. We knew the long-term impact was there. We had no choice but to be successful.”

The city fared better than its neighbor 90 minutes down Interstate 26.

Columbia was successful in hosting the first and second rounds of the men’s tournament in 2019 but bricked on its bid for future tournaments, which came as a shock to those involved.

“We are extremely disappointed,” Scott Powers, executive director of Experience Columbia SC Sports, told The Post and Courier. “We worked hard on our bid, we thought we put our best foot forward, and I don’t know why.”

What was lost?

In Greenville, the city estimates the 2022 men’s tournament will have a $5.3 million economic impact.

***

For perspective, before the last-second score in 2017, Greenville last hosted the men’s tournament in 2002.

Two years earlier, the legislature had compromised on taking the Confederate battle flag off the Statehouse dome by planting it in a prominent spot right on Gervais Street.



COVID buzzkill: Downtown Christmas parade canceled, but Ice on Main skating will press on

The NCAA refused to allow any future awards for events at predetermined sites after they agreed to honor the National Association for the Advancement of Colored People’s boycott.

The 2002 event, which had already been approved, received high praise from fans, players and coaches, like Duke University’s coach Mike Krzysewski.

But it wouldn’t matter.

Not until the flag was removed entirely in June 2015 — weeks after a white supremacist proclaiming a race war killed nine black parishioners in Charleston’s Mother Emmanuel church.



USC_v_Duke_3-19-17_0177.jpg

March 19, 2017: No. 7 seed South Carolina Gamecocks guard Sindarius Thornwell (0) pulls

Continue reading