Are areas where 5 star hotels are located an indicator that that area is an affluent area?
What are other indicators that an area is affluent or upcoming?
- Casey YLv 77 months ago
I would be more interested in residential development then just hotels.
It could just be something cool which brings people to an area, doesn't mean everyone is affluent. Take Hawaii. I wouldn't inherently consider it to be a place where wealth is concentrated based on the number of 5 star hotels in Waikiki...
- ron hLv 77 months ago
yeah, 5 stars would be in areas that out of town people want to stay in because there's something they want to be close to. Beaches, or big office buildings that have high-income businesses.
- Anonymous7 months ago
That depends on who is doing the rating. Other indicators include new commercial and residential development, comparative property values, etc. But its best to ask a local real estate professional who knows the market because they are the real experts.