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What is a Condo Hotel?[View][Hide] |
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Condo Hotel’s offer all of the amenities of a hotel with the comfort and convenience of a condo. They offer an investor the opportunity to own a luxurious vacation property that helps pay for itself. Unlike traditional condominiums, Condo Hotels come with a reservation system similar to that found in any hotel, with a reservation desk that is staffed around the clock. By enrolling their unit in the hotels’ optional reservation system, owners can split the monthly revenue (splits normally range from 40-60%) generated from their property when they are not staying there. The cash flow generated from these rentals can help offset any fees or interest payments owners might incur. Furthermore, because of the prime locations these properties are being developed in, owners can anticipate a great amount of appreciation on there property investment. For instance, the first buyers at the Trump Chicago Condo Hotel saw the price of a similar unit appreciate 95% before the project was even sold out.
If you plan to stay at a Condo Hotel, whether as an owner or a guest, you can expect all of the carefree amenities associated with a luxurious hotel. The Condo Hotels being developed offer everything from world class health clubs, pools and spas, daily maid service, full service business centers, lush landscaping and gardens, nightclubs and gourmet restaurants, golf, shopping, 24 hour room service, along with private entrances and valet parking, concierge services, and doorman. And while Condo Hotels are being developed rapidly around the world, destinations such as Las Vegas Nevada, Miami and Orlando Florida, Baja Mexico and Dubai are experiencing the most rapid growth.
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What Are The Real Advantages Of A Condo Hotel?[View][Hide] |
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As you might have read in the news, the biggest trend in the current real estate market is the vast number of “Condo Hotels” being built. However, prior to Donald Trump announcing several new Condo Hotel developments in the next few years, many people had never heard of the term “Condo Hotel”. While its name seems to imply what it consists of (half condo, half hotel), there are several less obvious rewards to Condo Hotels. Unlike traditional condominiums, Condo Hotels offer their owners and guests several key advantages.
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What are the Advantages for Owners?[View][Hide] |
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Not only are Condo Hotels being developed around the world, but they are being built in the most desirable places imaginable. Such as Hawaii, Florida, Las Vegas, New York City, Belize, and Dubai, just to name a few. Unlike timeshares and fractional ownerships, buyers of Condo Hotels are buying the real estate, and not just a piece of time. Who wouldn’t want to own a piece of property on the beaches of Hawaii or Belize, or on the “strip” in Vegas? Who knows what that property will be worth in 5 to 10 years...the sky is the limit. Furthermore, the units being developed have the benefits of home along with the pure luxury of a resort, including fully equipped kitchens, laundry rooms, dining and entertaining areas, and often times a balcony with a spectacular view. Since developers are now offering this opportunity through Condo Hotel ownership in such highly desirable locations, owners can expect to see a great amount of appreciation on their investment along with better occupancy statistics to increase cash flow.
So while these properties appreciate over time, owners have the option of placing the units into the hotel rental program, allowing the owners to earn monthly income on their investment.. This cash flow can help owners offset mortgage payments and fees. And the best part is, this can all be done from anywhere in the world since the hotels’ management can handle the reservations, cleaning, and maintenance of the unit.
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What are the Advantages for Guests?[View][Hide] |
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You might think of a guest in a Condo Hotel as someone other than the owner of a unit, however, that is not necessarily the case. Many of the Condo Hotels allow owners to setup their permanent residences in their unit, therefore becoming permanent guests. Furthermore, owners can choose not to enroll there unit in the rental program and visit as quests whenever the like. Or, owners enrolled in the rental program can always reserve their unit in advance. Regardless of who is in the room, owners or renters, they are all guests of the hotel. And one of the best advantages of being a guest in a Condo Hotel is that you are pampered as a guest. The Condo Hotels being developed offer everything from world class health clubs, pools and spas, daily maid service, full service business centers, lush landscaping and gardens, nightclubs and gourmet restaurants, golf, shopping, 24 hour room service, along with private entrances and valet parking, concierge and doorman. The Cosmopolitan in Las Vegas is building a five acre Cosmo Beach Club with a real sand beach surrounding the pool on the 4th floor overlooking Las Vegas Boulevard! So go ahead, live the dream, own or rent a Condo Hotel!
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Where Can I Learn More about Buying or Renting a Condo Hotel?[View][Hide] |
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Condo Hotel Marketplace is your online portal for buying, selling, or renting your investment property. If you are looking to rent one of the worlds’ most exquisite vacation properties or hoping to sell your property fast, easily, and affordably, Condo Hotel Marketplace is the ultimate vacation property portal. With an easy to use interface, countless resources, and an expert staff on hand, Condo Hotel Marketplace is the smartest way to directly link buyers with sellers, and renters with owners.
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