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What is a Condotel?

April 3, 2013

What is a Condotel? Is it a condominium? Is it a hotel?

 

Well it’s a combination of both. It’s also one of the hottest types of investment properties around the world.

You buy a condominium as a vacation home within a hotel type property and the condominium is rented out by the hotel when you are not there. Many condo hotels have superior amenities like spas, health and fitness centers, restaurants and business centers.

Condo hotel unit owners can receive revenue from participating in the condo hotel’s rental program, helping to offset their ownership expenses and the surplus resulting in a annual return on their investments. The operator of the rental program, in exchange for a 40% share of the revenue, markets the units as a hotel, takes reservations, operates the front desk, staffs and maintains the entire property, and provides the services hotel guests expect, such as housekeeping, food and beverage, and concierge.

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