The Ritz Carlton Residences in Kapalua set a stunning sales record doing well over $150,000,000 in sales yesterday.  Nearly every single one bedroom was purchased and only a handful of two bedrooms remain.  At a time when the real estate market in North American is crashing, the rock steady Ritz Carlton brand rose above and beyond and proved once again that there is always demand for premium real estate in precious locations.

The sales and marketing company, S&P Destination Properties, demonstrated once again that they are among the very best in the business when it comes to selling luxury real estate.  Most know S&P Destination Properties for setting the world real estate record by pre-selling over $700 million in real estate in under 10 hours when they sold out the Trump Tower Waikiki project two years ago.

Many industry insiders had assumed that the Ritz Carlton Kapaula project would not sell very well given the current real estate conditions.  A couple high profile condo hotel projects and resort residence projects have recently failed or not sold very well - especially on the west coast.  California, in particular, has seen some stunning failures.

It remains to be seen whether the Ritz Carlton Kapalua and its massive success will be enough to lift up the rest of the resort real estate industry.  What is clear, though, is that a branded condo hotel project, sold by a highly competent sales and marketing company, has the potential to succeed in any real estate climate.

Tara Peterson is the Director of Sales for PremiumCondoHotels.com