It's a bird, it's a plane, it's... a hotel?

Business Jet Traveler » August 2009
Photos: Vincent Costello
Tuesday, September 1, 2009 - 5:00am

If you love aircraft so much that you'd prefer to stay in one even when you reach your destination, then Costa Rica's Hotel Costa Verde (www.costaverde. com) has the lodgings for you. Its recently unveiled newest offering is a suite installed in the fuselage of a Boeing 727. Built in 1965, the passenger jet served with South Africa Air and Avianca Airlines before its retirement in 1990. After acquiring the airplane, the hotel's owners disassembled it, hauled it by truck through the jungle, rebuilt its interior and installed it atop a 50-foot pedestal.

The all-native-wood, paneled suite features two bedrooms, each with private bath; covered wing-top terraces that provide spectacular treetop views of the ocean and surrounding rainforest; and a kitchenette and dining area. Don't want to eat in? Stroll over to the hotel's restaurant and bar-a converted Fairchild C-123 cargo airplane that gained fame in the Iran Contra scandal during the Reagan era, when Nicaraguan guerrilla fighters purchased it with CIA help.

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““CEOs go to their vacation homes just after companies report favorable news, and CEOs return to headquarters right before subsequent news is released. More good news is released when CEOs are back at work, and CEOs appear not to leave headquarters at all if a firm has adverse news to disclose. When CEOs are away from the office, stock prices behave quietly with sharply lower volatility. Volatility increases immediately when CEOs return to work.” —David Yermack, a New York University finance professor, whose recently released study shows a correlation between when CEOs take their private jets on vacation and movements in their companies’ stock price ”

-David Yermack