Jean Hagerty

Jean Hagerty

Broker
312.506.0200      Contact Me
312.506.0200
Contact Me

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Condohotel vs.condo over hotel


Friday, 17 Oct 2014 at 05:08 pm

Learn about condo hotels vs. condos over a hotel. Condo hotels are a relatively new concept. They are usually luxury hotel properties with a strong brand affiliation such as Marriott, Four Seasons, Hilton, Trump. Most feature resort amenities, concierge services and exciting views The hotel units are sold to individual investors who use it for their own enjoyment and earn income when they are not there through an organized rental program run by the hotel operator. The units can be rented for one night or longer. People book a room through the hotel central reservation system. As investments, they have special financing needs. The condo units over a hotel are homes that share the resort amenities of the property but usually have a separate and private lobby entrance that can only be accessed by unit owners and their guests. They are intend to be homes, not investment vehicles and carry restrictions on renting them out.