Like many businesses in the industry, The Breakers, an upscale resort in Palm Beach is taking measures in order to cut costs as the economy continues its downward spiral. The beach resort’s staffing has decreased by roughly 200 employees, down 10 percent from this time last year, bringing the total employee roster to about 2,000. Although the hotel’s bookings are still very strong, the hotel will continue to stay proactive in reducing the workforce throughout the year, as the economy continues to worsen.
Set amidst 140 acres of breathtaking oceanfront property, the resort offers an extensive range of services and amenities. In an effort to revitalize and expand the resort, the company has invested $250 million since 1990. Now, in an effort to stash some cash, the upscale resort has made moves to open up three new businesses. During the past month the company has hired 40 new employees dedicated to working the Phillips Point Club on the top floor of the Phillips Point office building in West Palm Beach and MIX, a women’s accessories store at The Breakers. The third new venture is The Breakers Palm Beach Realty, a brokerage catering to the luxury real estate market.
The real estate business is located on the hotel grounds and is in response to inquiries by guests and members interested in high-end real estate in Palm Beach and surrounding areas. The Breakers Realty makes sense. With only very expensive real estate selling in the market these days, why not tap into the market when the market is knocking on your door?