Thinking of Buying a Condo Hotel Here Are 20 Things You Need to Know!
1. What is a condo hotel or condotel?
Think of a condo hotel (also sometimes called a condotel or hotel condo) as buying a condominium, although one that is part of a four-star caliber hotel. Therefore, as an owner, when you are on vacation, you’ll get the benefit of more four-star services and amenities than you’d get in a typical condominium.
2. What types of services and amenities are found in condo hotels?
If you can imagine the niceties you’d find in an upscale hotel, then you can picture a condo hotel. Among the features are often resort-style pools, full-service spas, state-of-the-art fitness centers, fine dining restaurants, concierge services and room service.
In some locations, like Las Vegas, you’ll find condo hotels with their own casinos, retail areas, and entertainment venues. In places like Orlando, you’ll find condo hotels with their own water parks and convention facilities.
3. What is the difference between a condo hotel and a traditional condominium?
The big difference between a hotel and a condo hotel is that a hotel typically has one owner, either individual or corporate, but a condo hotel is sold off unit by unit. Therefore, a 300-room condo hotel could have as many as 300 unit owners.
4. Is it evident to hotel guests whether they’re staying in a condo hotel or a traditional hotel?
A hotel guest will likely never know that the hotel has multiple owners because the property is operated just like a traditional hotel and often under the management of a well-known hotel company like Hilton, Hyatt, Starwood, Trump or W. Also, each of the individual condo hotel units will look identical in design and d