Many people have never heard
the term “Condo Hotel” or “Condotel,” but this is one of the
trendiest properties in the real estate market today. A Condo
Hotel or Condotel gives 100% fee simple ownership to an
individual or individuals in a luxury condo that has all of the
amenities and luxuries of a four or five star resort hotel.
When owners are not enjoying the unit themselves, typically the
unit is put into the hotel rental program, allowing the room to
be rented out as a hotel unit generating revenue off this
property which is split with the hotel. This provides owners
with hands-off management of their unit while they are not there
to enjoy the unit themselves. Condotels give people the ability
to afford a vacation property because the revenues their unit
generates when they are not there helps to offset some of the
costs of owning a 2nd home.
Condotels have become more and more popular over the past few
years in resort destinations as well as cities like Miami, Las
Vegas, Orlando, and New York. Developers of these Condotel
projects are primarily focused on areas with a large
concentration of vacation travel and/or business.
It is our goal to educate you on the concept of a Condo Hotel
and structure the best financing solutions so that you can make
the dream of owning a Condotel unit a reality. We have seen many
condo hotel projects throughout the world. Please let us know if
where you would like to own and we would
be happy to let you know the projects that are going on in that
area. We look forward to the opportunity to work with you on
your next financing venture and we will be sure to make this one of
the most pleasant financing experiences you have ever had.
