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Condos Vs. Condo Hotels For Vacaton Home Ownership
Condo hotels, also called condotels, are a relatively new concept in vacation home ownership. Rapidly gaining popularity, numerous condo hotels are now being built in Florida, Las Vegas, Chicago, Toronto, the Caribbean and many other locales around the U.S. and the world. To help illustrate the unique qualities of condo hotels, here's a look at how they compare with traditional condos. AMENITIES Condos - The average condo has a community pool and some common areas. Condo Hotels - A condo hotel has many of the amenities you would find at a four- or five-star hotel. In addition to a pool (or pools), there is probably an on-site restaurant (possibly several), a lounge, a full-service spa, a state-of-the-art exercise facility, poolside bar, etc. The amenities in a condo hotel are far greater than what you would typically find in a condo. FURNISHINGS Condos - Condos are usually sold unfurnished. You may decorate your unit as you like, and you pay for all furnishings. Condo Hotels - A condo hotel unit is delivered to you completely furnished, typically with high-end furniture, appliances and fixtures selected by a professional interior designer. All units are decorated the same, more or less, much like hotel rooms. Condo hotel units are delivered user-ready upon receipt. The cost for furnishings is included in the price of the condo hotel unit. SERVICES Condos - You are responsible for your own housekeeping and unit upkeep. Services are usually limited to maintenance and possibly security. Condo Hotels - You get daily housekeeping as you would in a luxury hotel. You have access to room service, concierge services, maintenance services and check-in services. The vast majority of condo hotels are operated by big-name hoteliers like Ritz Carlton and Hilton, the consummate professionals when it comes to customer service. Most of the same services available at their high-end hotels are offered at their condo hotels. LOCATION Condos - Condos can be found in almost every major market across the country. Some condo developments are in resort areas, while others are not. Condo Hotels - At this time condo hotels are only available in a handful of locations, all of which are major vacation destinations or highly desirable cities, such as South Florida, Las Vegas and Chicago. Condo hotels are usually built on the most desirable pieces of land such as on a golf course, overlooking the ocean or in the heart of a major city. PRICE Condos - Prices for condos can start as low as $70,000. Condo Hotels - Units start at $200,000, and most are substantially more. An oceanfront four- or five-star condo hotel unit can cost $500,000 to over $1,000,000. RENTAL INCOME POTENTIAL Condos - You have the option of renting out your unit when not using it. However, you are responsible for finding your own renters, preparing the unit for those renters, dealing with any maintenance issues that arise and collecting the rent. The condo association's approval may be required on renter issues. You keep 100% of the rental revenue. Condo Hotels - All details are handled for you. When you're not using your condo hotel unit, you simply place it in the rental program. Renters would be found for you, and all aspects of the renters' stay would be handled by the hotel management company. The entire process would be hassle-free for you. You would receive a portion of the rent revenue, typically 40%-50%; the balance would go to the management company. Because the condo hotel most likely is a national or international hotel chain (such as Hilton or Ritz Carlton), it has a global sales force, multimillion dollar marketing campaigns, loyalty programs, a centralized reservation system and a strong Internet presence, all of which suggest that the property's management would probably have better success at keeping your unit rented than you would as an individual condo owner. APPRECIATION POTENTIAL Condos - Whether your condo will appreciate or depreciate depends strongly on its location. Because there are so many condos on the market, the rules of supply and demand often help keep prices down. For the same reason, condos can be hard to resell. Condo Hotels - Because condo hotels are a relatively new type of property investment, they are limited to just a handful of locales across the country. The supply is small and demand is currently high and growing, all of which contribute rapid and significant appreciation. Another factor to keep in mind when reselling a condo hotel unit is that you're selling not only the actual unit but also the luxury lifestyle that comes with an amenity-filled, high-service property. Many condo hotels are sold out in pre-construction. Often the developers, sensing the high demand, will themselves raise prices many times before all units are gone. For example, The Mutiny condo hotel located in Coconut Grove, Florida was the first condo hotel to be built in South Florida. From the time the developer began accepting deposits until it sold out in pre-construction, there were nine price increases. People who bought early did exceptionally well. Joel Greene is the President of Condo Hotel Center, a licensed real estate brokerage that specializes in the sale of condo hotels. For more information on condo hotels -- including property listings, photos and prices -- visit his website at http://www.CondoHotelCenter.com. Be sure to sign up for the Property Alert e-newsletter at http://www.CondoHotelCenter.com to receive notification when new condo hotels come on the market and are available at pre-construction pricing.
MORE RESOURCES: Altadena’s rough real estate market: Slower sales, lower prices, lottery winner plucking up properties Los Angeles Times Real estate magazine reports Les Wexner as Blue Heron buyer The Martha's Vineyard Times Real estate expert warns socialist mayoral candidate could trigger massive NYC exodus - Fox Business Canadian psychologist Jordan Peterson sets up shop in the Valley, records show The Business Journals Bedrock flexes its real estate portfolio to grow Detroit's tech ecosystem - Crain's Detroit Business Bedrock flexes its real estate portfolio to grow Detroit's tech ecosystem Crain's Detroit Business ‘Taken advantage of’: Real estate agent ripped off friends, church, and federal government - WSOC TV Office real estate wide open in Denver as vacancy rate hits 36 percent Colorado Public Radio Vail Valley real estate inventory is on the rise VailDaily.com NAR Real Estate Forecast Summit National Association of REALTORS® Real Estate Partners Dollar Tree Let's Talk Business: June residential real estate sales lagging, heritage grants and more Pueblo Chieftain A New Perspective: Here Comes the Groom | Real Estate Insights Piedmont Exedra Boston Real Estate Times Unveils 2025 Excellence Award Winners: Honoring the Visionaries Shaping New England’s Future Boston Real Estate Times Dawson County weekly real estate transactions, July 18 Central Nebraska Today State lawmaker joins Westport commercial real estate brokerage as vice president Hartford Business Journal Private Credit Surges in 2025 as Real Estate Developers Bypass Banks The World Property Journal Real estate news: Senior apartments in Tustin sell for $83M; Fullerton Metrocenter snares $118M Orange County Register 5 Essential Tech Tools for Real Estate Agents National Association of REALTORS® New York Housing Market Trends 2025: Is the Tide Turning for Buyers? Norada Real Estate Investments Los Angeles Water & Power commits $100 to real estate debt Pensions & Investments Today’s Mortgage Rates: The States Offering Lowest Rates – July 18, 2025 Norada Real Estate Investments Property management with an owner’s mindset J.P. Morgan Corcoran McEnearney Announces Evan Lacopo to Lead the Number One Real Estate Office in Alexandria, Virginia Alexandria Living Magazine SRS Real Estate Partners Arranges $4.53 Million Ground Lease Sale of Walmart Property in Deltona, FL citybiz Real Estate Market Report (June) highlandscurrent.org Licking County real estate transfers for June 30-July 4 range from $200,000-$14.6 million The Newark Advocate Banner Real Estate Group Breaks Ground on 334-Unit The Faywell Multifamily Development in The Heart MultifamilyBiz Bridgemarq Real Estate Services® Declares Dividend Yahoo Finance CBRE Announces Strategic Leadership Appointments Across U.S. & Canada Advisory Business Boston Real Estate Times Moon Becomes Next Real Estate Frontier, NAR Reports Higher Foreign Investment In US Huntsville Business Journal Gravelle advises on current real estate market in Grant County Columbia Basin Herald Frederick Ford, real estate executive and first Black Union League Club president, dies at 98 Chicago Tribune Mapletree Sells Sun Belt Warehouse Portfolio to EQT Real Estate for $241M Commercial Observer GenesisM Breaks Ground on 154,000-Square-Foot Biomanufacturing Facility in Bedford, MA Boston Real Estate Times AGC MA Announces 5th Annual Building Advancement Externship to Bridge Educators with STEM Construction Careers Boston Real Estate Times Operation Pawssible: Greenbrier Humane Society gets a boost from local real estate company Mountain Messenger What's the most expensive property sold in Rhode Island? July 18 real estate transactions The Providence Journal The Pipeline: Commercial real estate roundup for 7.18.25 Richmond BizSense LOCAL REAL ESTATE TODAY 7.18.25 KQEN News Radio Home Buyers May Have Accepted a New Norm on Rates National Association of REALTORS® SRS Real Estate Negotiates $4.5 Million Sale of Walmart-Anchored Property in Metro Orlando Shopping Center Business Miami-Dade’s self-storage surge a boom for real estate IslanderNews.com Home Buyers: Stop Freaking Out After the Home Inspection National Association of REALTORS® Tips on spotting real estate investment opportunities and avoiding risks, from experts at GR Property Group Community Impact Stage Point Europe Launches Its RWA Token $SPET, Setting it up as a Bridge Between Crypto and Real Estate Morningstar Hunt Companies Acquires Controlling Interest in Carter, Strengthening Real Estate Development Platform Business Wire New plans unveiled for Water Street’s second phase Tampa Bay Times Top Stocks for Real Estate Investment Elite AI Stock Forecasts - Massive wealth growth Jammu Links News July Economist Snapshot: What Will the Big Beautiful Bill Mean for Commercial Real Estate and Housing? Urban Land Magazine Vend Leans Into Verticalisation As Real Estate Revenue Grows 11% In Q2 onlinemarketplaces.com Is Apollo Commercial Real Estate Finance Inc. a good long term investment - Explosive market performance Jammu Links News Wood County Recorder reports on second quarter real estate activity BG Independent News Real estate sales in Jefferson, Bullitt and Oldham counties for Jan. 2-5, 2025 - The Courier-Journal Real estate sales in Jefferson, Bullitt and Oldham counties for Jan. 2-5, 2025 The Courier-Journal Choice Properties Real Estate Investment Trust 2025 Q2 - Results - Earnings Call Presentation (OTCMKTS:PPRQF) Seeking Alpha Drake Real Estate Partners closes largest fund yet after pivoting to institutions Private Equity Real Estate | PERE Manitowoc's real estate transfers include a sale of nearly $1 million to Riverside Dairy Herald Times Reporter Real estate transfers: Lake Township condominium complex sells for $5.61 million - Canton Repository Real Estate Transfers ~ June 25, 2025 The Bedford Citizen Stonelake Capital sells dozens of industrial buildings across US for $920 million The Business Journals Real estate office transforms into collection center for donations being transported to Kerr County kens5.com |
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