What is a Condo Hotel?
A condo hotel is a building that is titled as a condominium but functions as a hotel. The units are owned by individuals and are available for their use. While the owner is not in residence, the unit is rented to short-term renters by a management company. The revenue is then split between the hotel management company and the owner. The revenue earned while not in residence helps pay for the costs of owning the residence. They are typically high-rises in vacation areas or major cities.
Top 2018 Locations Available for Purchase
$113,000 and up - Condo Hotel
Samaná Bay on the northeast side of the Dominican Republic is widely considered one of the most scenic bays in the world. Soon it will…More Details
$140,000 and up - Condo Hotel
Imagine owning a piece of an elegant hotel that dates back to the 12th century. A soon to be refurbished, 21-room, boutique-sized property, sitting upon…More Details
$300,000 's - Condo Hotel
236 hotel residences and 149 private residences will soon be constructed overlooking the Miami skyline and Biscayne Bay in downtown Miami. Located in the center…More Details
$300,000 and up - Condo Hotel
A new trend is coming to Miami with a to-be-built property that will maximize space while keeping costs down. A condominium and hotel combo to…More Details
$350,000 +/- - Condo Hotel
Orlando’s newest opportunity is a lakefront property just five minutes from the Walt Disney World entrance. Sitting on beautiful Lake Austin, this contemporary Mediterranean style…More Details
$522,000 and up - Condo Hotel
The Cayman Islands, among the Caribbean’s most popular destinations, are a paradise with white sands, warm water, and year-round tropical weather conditions. The clear water…More Details
$700,000 and up - Condo Hotel
Clearwater Beach, on Florida’s west coast, best known for its sunny weather and immaculate Gulf Coast beaches, is about to become home to the first…More Details
$830,000 and up - Condo Hotel
Developers are increasingly investing in properties dedicated to holistic health and wellness; a growing industry estimated at over $134 billion worldwide. Palm Beach County, FL…More Details
$900,000 and up - Condo Hotel
W Residences Ft. Lauderdale is a luxurious 24-story, 171-room condo hotel sitting right on the famed Fort Lauderdale Strip, across from the beautiful Atlantic Ocean…More Details
Orlando, FL Resort and Spa
Orlando’s newest ownership opportunity opened in 2018. Low cost for a full-ownership vacation home with rental rates that top $200 per night!
More information on Orlando Ownership.
W Residences Ft. Lauderdale
The W Residences is a luxurious offering managed by Marriott. Starting prices of $900,000 USD. 2 Bedroom, ocean views.
A new small living concept, the units at YotelPad will be 400-700 sq ft. Great for corporations and those looking to own a residence in downtown Miami as the residence will be rented out while not in use.
Who Condo Hotels Are For
Snowbirds – Condo Hotels are ideal for Canada and Northeastern U.S. retirees looking to escape the cold winters and live in Florida, Arizona, Hawaii or California from December to March. Ownership guarantees a professionally managed residence that can generate income during the spring and summer months. No maintenance, professional amenities, and a guaranteed residence to stay in each year (with no rent) makes condo hotels ideal for this type of owner.
Extended Family/ Shared Ownership – A condo hotel is perfect for large families or groups of friends that wish to purchase a vacation home together. Shared owners then have the flexibility of anyone using the condo at any time for a vacation. Since there is no maintenance, none of the family members need to worry about who will be taking care of repairs. This type of ownership is especially popular with condo hotels in the Orlando, Florida area where the resorts have pools, water parks, and great amenities for children.
Work-At-Home, Travelling Couples – A condo hotel gives digital nomads the benefit of extended stays. With the flexibility of working at home, couples can stay in a variety of residences around the world at different times of the year. With the affordability of a condo hotel as opposed to a vacation home, these couples can own units around the world.
Corporate Retreats – A condo hotel is a tax benefit to corporations looking to provide a perk to employees. With no restrictions on scheduling, weeks are always available for free employee vacations. The remainder of the time when not in use, the condo hotel is in a rental program generating revenue to offset the costs of ownership.
Financial Analysis of Condo Hotel Ownership
The financial analysis above assumes a three month usage time and slight depreciation on the condo hotel as it ages. This is typical for a condo hotel. However, a strong real estate market can offset depreciation. It is important to remember all condominiums are depreciating structures and the effect of appreciation or depreciation on the final numbers are unknown.
With a total cost of $3,300 per month of usage for the owner, the results may not seem fantastic, but in actuality, they are quite good. A comparable condominium would cost $5,000/month for the owner to rent elsewhere and would have fewer amenities, no resort services, and no guaranteed availability. Plus, the condo hotel unit is brand new, furnished with high-quality interior design, and customer service and concierge services are impeccable. Owners of the unit have a true vacation home they can visit anytime with 5-star resort amenities included.
Long-term rentals on VRBO.com and Airbnb can end up being hit-and-miss and are often hard to book. The convenience and cost savings to owning a condo-hotel for long-term stays is excellent.