Condo Hotels

Are you thinking of buying a condo hotel in California? Condo hotels are one of the hottest products in today’s real estate market. New properties are being added in different parts of the country and new buyers are entering the market daily. They are coming to California soon.

Virtually every single condo hotel that has come on the market to date has sold out in pre-construction. Most of these properties are mega high-rise buildings with an average 200-500 units, and with some in excess of 1,000 units.

South Florida is one of the extremely popular condo hotel areas and has shown strong and steady appreciation. As already mentioned, the condo hotel trend which began in South Florida and Orlando has now spread out west. Las Vegas is leading the pack with many new condo and condo hotel developments in all price ranges being built.

The latest condo hotel trend is where developers buy existing structures on Miami Beach and upgrade them. In one instance, Bal Harbour a multi-family high-rise building (Harbour House) was demolished and a five-star condo hotel was built in its place.

Some condo hotels are beginning to crop up inland. These may not have oceanfront views, but they're within a few short blocks of a beach. Seeing as they're not on the ocean, these hotel condos tend to be priced more economically.

How does a condo hotel compare with a time share? A condo hotel is far more exclusive and includes many more luxury amenities and services than time shares. They tend to be larger units, usually three to five bedrooms. Time shares usually allow you use for just one to two weeks per year.

A condo hotel is usually used as a second home. Owners can use their condo hotel vacation homes when they want and place them in the hotel’s rental program the rest of the time. They’ll receive a share of the revenue their unit generates, typically about 50%. Because the onsite hotel management company takes care of finding guests and maintaining and operating the property, condo hotels offer hassle-free ownership.