The Appeal of Condo Hotels
What makes the condo hotel concept so appealing? When owners are not using their condo hotel unit, they have the option of placing it into the hotel's rental program. They receive 40%-60% of the revenue their unit generates (it varies by property), with the balance going to the hotel operator. The revenue generated helps offset the costs of owning a holiday home. While many hotel operators don't guarantee the rental of the condo, by capitalizing on the hotel's brand name, strong sales and marketing capabilities, centralized reservation system and management expertise, owners typically receive a higher level of rental income than they would from a traditional vacation home. More importantly, ownership is 100 percent hassle-free, as the hotel operator takes care of finding hotel guests and maintaining the unit as well as managing the property's many facilities.