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.
