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Hotel Condominium

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The Hotel Condominium is one of the hottest concepts in the lodging and real estate industries today.  Condominium buyers own the units outright (in fee-simple) which doubles as a hotel guest studio or suite. Hotel condominium unit owners may live in the hotel as they wish or use them as second or third homes.  Buyers have the fun of a resort area vacation home but they do not have to worry about maintenance.  Plus they have the opportunity to recoup some of their costs through hotel rentals on their own or through others if they wish.

 

Hotel Condominiums

Best of both worlds

 

Condo Hotels have quickly become one of the hottest areas of the real estate market over the last few years. What makes condo hotels so appealing to buyers is the concept of owning a property that generates revenue when not being used by their owners. Condo Hotels are taking the place of traditional vacation homes because of their income potential. Condo hotel owners have the option of placing their unit in the hotel management program while it is not being used to generate revenue. The revenues are shared between the owners and the management company and percentages can vary depending on the agreement.

 

Most condo hotels offer a very high level of services and amenities that you will not find in vacation homes. Amenities such as top level spas, fine dining, room service, house keeping and concierge services make condo hotel ownership very appealing. Also, condo hotel ownership is "hassle free". Any problems that come up are handled by the onsite hotel management company so the unit owner does not have to be bothered. Imagine owning a luxury hotel room or suite you can use any time that has the potential to pay for its self or at the very least offset some of the annual expenses. Sounds pretty good. The condo hotel concept got its start in Miami with projects like the Fontainebleau II, Four Seasons and the Trump International Sonesta Beach Resort. Now that condo hotels have become a hot product, they are being built or converted in just about every major city in the country from Miami to Las Vegas to New York. Many of the preconstruction condo hotels sell out in a short period of time due to the high demand.

 

Many buyers look for a recognizable brand when deciding which condo hotel project to buy. Some of the countries top condo developers have teamed up with the top hotel companies to form very powerful brands. The brand is important because people are buying into a lifestyle and the brand is an extension of that lifestyle. Buyers of condo hotels also feel more comfortable with their purchase knowing that they will have an experienced team building and running the project. A very good example of a powerful brand is the team of Starwood and the Related Group. They have recently joined forces to bring you condo hotel projects like the W Hotel and Residences South Beach, and the St Regis Resort and Residences Bal Harbour.

Many of the condo hotels we see today are sold as pre construction while others are conversions of existing hotels. Some projects are mixed use offering condo, condo hotel and fractional units all within the same building. Traditional condo buyers are now being drawn to these mixed use projects because they have access to all of the extraordinary hotel facilities and services while not having to participate in the hotel program.

 

 

 

 

 

Trump Hotel

Las Vegas, Nevada

 

 

Trump Grande

Miami, Florida

 

 

 

 

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