Don't forget your pearls and a sweet grandma for the afternoon teas, Mermaid. Someone mentioned that RC would require a beachfront location, which is probably correct. They could become an operator of an existing hotel, if there were enough rooms. RC usually requires a large number of rooms, on the order of 250 to 400 and that may not be possible in South Walton on the Gulf. About four years ago, these firms had South Walton in their sights, to the extent of some having concept plans drawn up by architects for pro formas. I was in the offices of a prominent CA planning firm and saw such a plan, which really surprised me. Frankly, I'm rather surprised that none of them have moved forward so far. But I know that the accessibility and labor base issues are key for them. It's about a lot more than just them having deep pockets. Specific criteria must be met if any plans are to move forward.
Additionally, financing for new hotels is extremely flat and no upturn is in sight at this time. Financing is no longer to value; rather, it is for construction, which only pays about half the carrying costs. This means that the remainding half must come from private investors, thus the fractionalized ownership concept. Some smaller areas that do not want large hotels or chains have adopted "no timeshare" ordinances to prevent the hotels, because they know they can't be built without ownership sales to assist financing. Fractionalized ownership is a fancy term for timeshare, although "the boys" insist that the two are quite different. Same result. It's easier to sell a dog five times for $5 than to sell it once for $50. (That analogy applies more to timeshares than to 5-star properties, I concede.)
As a native to the area, I hope these things don't happen, frankly. Even one five star resort would pretty much complete the gentrification. I mean, does anyone know of a community that has only ONE golf course? As a property owner (and I guess, a real estate investor by extension), it would be a very, very positive thing for property values and area recognition. Example: Coastal area homes in Dana Point (Orange County), CA tripled in price after Ritz Carlton opened their hotel there and it is miles away from either San Diego or L.A. Beautiful beach, though.
I'm still going for the pickups, the oyster shell roads, the shrimp, and the boiled peanuts, myself. I look forward to becoming a "salt water woman" for several weeks out of every year, including reliving my childhood by walking the backstreets of Grayton in a pair of peeling flip-flops.
