Condo Hotels What could be more
perfect than owning a luxury vacation home at a world class resort and
receiving rent revenue whenever you're not using it? Condo hotels are
the newest trend in vacation home ownership. Live in it when you're
there; rent it out when you are not.
So how do condo-hotels differ from owning a traditional vacation
apartment or condominium? These are not your typical second homes. They
are fabulously-furnished condominium suites in some of the most famous
hotels and resorts around the country. The properties are usually large,
high-rise, luxury hotels. Prices can range from $250,000 to over $1
million for prime properties.
When condo-hotel unit owners are not using their units, they have the
option of putting the unit into the hotel's rental program. This is what
makes the program so attractive. While the developer doesn't guarantee
the rental of the unit, by capitalizing on a hotel's name recognition,
advertising, national affiliations, centralized reservation system and
management expertise, unit owners typically receive a higher level of
rental income than they would from a traditional vacation home.
