Monthly Archives: May 2013

New Boutique Real Estate Company opens for business in Sarasota area

New Boutique Real Estate Company opens for business in Sarasota area

Sand Dollar Real Estate, serving Sarasota county.

Sand Dollar Real Estate, serving Sarasota county.

Serving various communities, including Siesta Key, Longboat key, lido, Casey Key, Bradenton Beach, Whitney Beach, Anna Maria Island, Downtown Sarasota, Hillview, Arlington Park, Gillespie Park, Lakewood Ranch, Gulf Gate and surrounding areas.

Click Here —–> To view Sand Dollar Real Estate

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Dollar Stores Continue to Dominate

Dollar Stores Continue to Dominate

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By Robert Ciura – May 23, 2013

Dollar stores in the United States have seen great success since the recession hit in 2008. Many consumers have scaled down their spending as a result of painfully high unemployment and stagnant wages.

Furthermore, now that the payroll tax hike and ongoing sequester are taking deeper bites out of the American consumer, it’s appearing more and more likely that dollar stores in the United States may be taking meaningful share from their retail peers.

As a result, investors interested in the retail space would be well advised to seriously consider adding one of the nation’s major dollar stores to their portfolios.

Low priced merchandise turns into big profits for these retailers

Whereas many other retailers in the United States are producing disappointing first-quarter results, blaming everything from poor weather to government spending cuts all the while missing on sales and profit expectations, these deep-discount retailers are crushing expectations and firing on all cylinders.

First, Family Dollar (NYSE: FDO) reported that for the second quarter of fiscal 2013 ended March 2, 2013, net sales increased 17.7% to $2.89 billion. Same-store sales, which measures sales only at locations open at least one year, grew almost 3% year over year, and net income per diluted share for the quarter increased 5.2% to $1.21 per share.

Even better, Family Dollar has a long track record of rewarding its shareholders with consistent dividend increases, and the fantastic operating performance enjoyed in recent months will go a long way to ensure further rewards for the foreseeable future. In January this year, the company increased its dividend by more than 23% and authorized a new $300 million share buyback program. This marked the 37th consecutive annual dividend increase for Family Dollar.

Deep discount peer Dollar General (NYSE: DG) had a fantastic year, reporting record sales, operating profit, and net income for fiscal 2012. In March, Dollar General reported same-store sales increased 3% in the fourth quarter and nearly 5% for the full year. Furthermore, the company’s adjusted earnings per share clocked in at $2.91 per share.

The company is deeply committed to providing shareholders with meaningful returns, and has demonstrated that commitment recently. Along with its fiscal 2012 results, Dollar General increased its share buyback authorization by $500 million.

Last but not least, rival Dollar Tree (NASDAQ: DLTR) reported 2.4% same-store sales growth in the fourth quarter and 15% net sales growth during the same period. Meanwhile, diluted earnings per share soared 26% during the fourth quarter.

For the full year, the company reported same-store and net sales increases of 3.4% and 11.5%, respectively. These results flowed through to the bottom line, as diluted earnings per share of $2.68 soared 33% from the year prior.

For complete article, ——–> CLICK HERE <–———

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Understanding RevPAR

Understanding RevPAR

Originally published Sep. 12, 2012William F. Reed, FASAE, CMP | MEETINGSNET

Everyone’s heard about RevPAR, but do you really know exactly what it is?

RevPAR is one of the most important measurements in the hotel industry today. RevPAR is an acronym that stands for Revenue Per Available Room. This is different from average rate in that it is a measure that divides revenue by the number of available rooms, not the number of occupied rooms. It is a measure of how well the hotel has been able to fill rooms off season, when demand is low even if rates are also low, and how well they fill the rooms and maximize the rate in high season, when there is high demand for hotel rooms.

For instance, a hotel with 500 rooms will have 182,500 available rooms in a year (500 rooms times 365 days in a year). If that same hotel ran a 75 percent occupancy, it would have 136,875 occupied rooms that same year (182,500 available rooms multiplied by 75 percent). Let’s say in a given year that this hotel has room revenue of $27,375,000. Its average rate would be $200 ($27,375,000 divided by its 136,875 occupied rooms). The hotel’s RevPAR would be $150 because the revenue would have been divided by the 182,500 available rooms. RevPAR is a better measurement because it shows how well the hotel was able to fill rooms (regardless of price) in low-demand periods, and how well they did filling rooms at the highest rate possible when demand is high.

What is the difference, you ask? A hotel could have sold all its rooms during the peak and shoulder seasons at $200 to get an average rate of $200, and left the hotel completely empty off season when it needs occupancy to pay for fixed expenses (salaries, debt service, etc.) when it could have sold some rooms at a value rate of $100 each.

Who looks at RevPAR? A lot of people, including hotel owners, lending institutions, and management companies. The biggest reason that it is so important is that hotel owners use it as a benchmark to see which hotel management company (Four Seasons, Ritz, Fairmont, Starwood, Marriott, et al.) produces the highest RevPAR in a given market. This helps them to select which company they hire to manage their hotel.

For complete article, —–> CLICK HERE <—–

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Cocoanut Avenue apartments sell for $460,000

Cocoanut Avenue apartments sell for $460,000

By Michael Braga, Herald-Tribune / Friday, May 10, 2013

SovGeoInfo USA LLC, a Sarasota company managed by Nikolay Safonov, sold an eight-unit apartment building at 1090 Cocoanut Avenue in Sarasota to Cocoanut Apartments LLC in $460,000.

Safonov’s company paid $535,000 for the 4,600-square-foot building in July 2009.

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252-unit apartment complex sells for $21.75 million

252-unit apartment complex sells for $21.75 million

By Michael Braga, Herald-Tribune

Huntington Place Apartments Limited Partnership, a San Francisco company managed by Thomas Coates, sold a 252-unit apartment complex at 3201 Huntington Place Drive in Sarasota, to Huntington-Sarasota LLC for $21.75 million.

Coates’ company paid $17.3 million for the complex in December 2004.

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Christopher Brown snags another Main Street building

Christopher Brown snags another Main Street building

By Michael Braga, Herald-Tribune

pic via Herald-Tribune

pic via Herald-Tribune

Harry S. Walia sold 14,000 square feet in a 22,325-square-foot restaurant building at 1410 Main Street in Sarasota to 1400 Main LLC for $2.65 million.

Walia paid $755,000 for the building, which once housed Patrick’s restaurant, in November 1992.

1400 Main, an Osprey company managed by Christopher J. Brown, financed its acquisition with a $1 million loan from SunTrust.

“At one time the buildings had separate parcel ID’s and were put under one parcel ID for possible development purposes,” brown said in an email message. “They will be separated again after this closing. My acquisition included the building known as the “Patrick’s building” because they were there for so long. That address is 1400 Main St.
It now houses the Floribbean restaurant which will be vacating at the end of May.

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