In todayís economy and with an increasingly internet-savvy consumer, traditional notions of how we rest, play and travel are changing. There is a huge and publicly recognized opportunity for budget hotels to capitalize upon this movement and take away business from prime hotel brands.
Reflecting a consumer tendency for no frills affluence, Condo-hotels concept is a substantially growing niche market, which has become one of the most popular trends in vacation home ownership in recent years.
Unit owners will receive a higher level of rental income by being in a rental program with a recognized professional operator that utilizes his global marketing initiatives, hotelís affiliation, sophisticated reservation system, brand recognition, and management expertise to ensure higher occupancy rates. Usually upscale with full-service and set in the strongest hotel markets, the financing structure of a condo-hotel also sets it apart from superficially similar products such as time-shares or fractional ownership as itís a straight real estate deal.
The revenue from the condo- hotel units are pooled, and split between the individual unit owners and the condo-hotel operator.
The fees kept by the hotel operator cover common area maintenance, property insurance, utility expenses, reservation systems, salaries and other direct hotel expenses.
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