Breaking news: wealthy homeowners don't like to do chores. As such, condos-hotels are becoming increasingly popular since they come with 24-hour services like restaurant room (home?) service, a concierge, valet parking, and housekeeping. Ian Schrager says it's all about the math. "One plus one equals three. When you add condos to a hotel, the sum of the parts is more than the value of each individual component alone." Also, hotels are expensive and condos make more money. [Bloomberg]
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