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Canyon Ranch Living Marketing and Sales Analysis: Miami Beach, Florida

Canyon Ranch Living Marketing and Sales Analysis: Miami Beach, Florida

Description

Canyon Ranch Living engaged The Weitzman Group to evaluate the marketing and sales effectiveness of its first major branded residential development. Located on the ocean in Miami Beach, the mixed-use development includes a hotel, spa, and condominiums all catering to a wellness-lifestyle, and featuring access to more than forty classes per day, an on-site medical staff, nutritionists, personal fitness instructors, and unsurpassed fitness and health environments. Despite an exceptional product with superior amenities and branding for the market, the condominium market decline in Miami prompted Canyon Ranch to pursue strategies to maximize the marketability of the condominium development. We anonymously shopped the development, and all competitive developments and existing comparable condominium communities, in an effort to understand the competitive environment. We then provided, through a series of reports and working-group conversations, significant feedback and recommendations to Canyon Ranch that would enhance the development’s positioning and appeal in a challenging market.

 
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