Maria Wood is senior editor of Real Estate Forum, from which thisarticle is excerpted.

Anyone thinking of constructing a hotel would be well advised tohook up with a residential partner. Why's that? Because in order toget out of the ground today, most high-end lodging properties needto paired with a residential component, say market insiders.

Gone are the days when a developer or hotel company could plunkdown a lodging property next to an office complex and have animmediate and steady stream of business travelers through itsdoors. Now, customers want their hotels near retail shops or aspart of a lifestyle complex. Meanwhile, condominium buyers areattracted to residences that are affiliated with a lodgingproperty, enabling them to enjoy the hotel's amenities, such asroom service, housekeeping or a spa.

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