Here Are Few Things You Want to Know!
1. What is a condominium?
Think about a condominium hotel (also sometimes referred to as a condotel or resort condo) as purchasing a condo, although one which part of a four-star caliber hotel is. Therefore, as an owner, once you're on vacation, you will find the advantage of more four-star amenities and services than you would get in a normal condominium.
2. What sorts of services and conveniences are located in condo hotels?
If you can envision the niceties you would see in an upscale resort, then you can envision a condominium hotel. One of the features is often resort-style pools, full-service spas, state-of-the-art fitness facilities, fine dining restaurants, concierge services and room service.
In certain places, like Las Vegas, you will find condominium resorts with their own casinos, retail locations, and entertainment venues. In areas like Orlando, you will find condo resorts with their own water parks and conference facilities.
3. What's the difference between a condominium hotel and a conventional condominium?
The large difference between a hotel and a condominium hotel is that a resort generally has one owner, either corporate or individual, but a condominium resort is sold off the unit by unit. Thus, a 300-room condo resort might have as many as 300 unit owners.
4. Who typically buys luxury hotels?
They are primarily sold to folks who want a holiday home but don't want to take care of the hassles typically associated with second home ownership such as keeping the property or finding tenants in the offseason.