Condo-hotels: the perfect combination of comfort and amenities

Condo-hotels, also known as apart-hotels, have become popular and are now actively appearing in many countries. This unique format combines the best features of a hotel and a condominium.

Condo-hotel what is it?

A condo-hotel, or apart-hotel, is a high-end hotel complex with rich infrastructure including restaurants, bars, spas, beauty salons, swimming pools and conference areas. These properties usually have a 5-star status. The condo-hotel is managed by a professional company, but individuals can also be the owners. Instead of shareholdings, investors purchase individual units such as studios or multi-bedroom apartments with kitchens that can be used for temporary stays or rentals. The condo-hotel is managed by experienced professionals under brand names such as Four Seasons, Pierre et Vacances, Hyatt, Hilton, Le Méridien and others.

History and dissemination

The first condo-hotels appeared in Miami in the middle of the last century. They are especially popular in winter and summer resorts, as well as in large cities where businessmen are often on business trips. This format is popular in the United States, Canada, Mexico, Panama, Costa Rica, the Bahamas, Jamaica and the Arab Emirates. In Europe, such properties are less common and are usually located in large cities such as London or Paris, as well as on the resort coast, including the Cote d'Azur and the Spanish coast.

Cooperation between operator and owners

The management agreement defines the relationship between the hotel operator and the unit owners. It regulates the rights, obligations and distribution of profits from the rental of premises. Usually such an agreement is concluded for a period of 5 to 20 years with an option to renew.

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The unit owners receive a share of the profit, but bear the costs of taxes, insurance and maintenance of the apartments. The operator, for its part, provides security, attracts customers, maintains the units and provides a variety of services, including concierge service and maintenance of restaurants, fitness centers and nightclubs.

Infrastructure

The infrastructure of a condo hotel depends on its location, target audience and class. For example, ski condo-hotels provide snow removal services, while coasts require regular maintenance due to weather conditions. It is also important to consider customer preferences: business centers may have conference rooms, while resort complexes may have spas, water parks and other entertainment.

The Condo Hotel is a successful combination of comfort and convenience, providing customers with a wide range of services in an inviting atmosphere.

Condo Hotel Prices: Factors and Variations

The cost of apartments in condo-hotels is subject to significant fluctuations and depends on many factors. The location of the hotel complex, its floor, the quality of services provided and the choice of hotel operator have a significant impact on the price of accommodation. In this article we will look at several examples of price ranges in different regions and analyze the pros and cons of investing in condo-hotels.

Prices by Region:

Asian Countries: In Asian countries, the cost of units in condo hotels is often more affordable compared to Europe and the US.

Major Cities in Europe and the USA: In megacities of this scale, prices for apartments in condo-hotels can increase significantly. For example, at the Trump Soho complex in New York City, prices start at $1.2 million. In Europe, apartments in the condo-hotel Du Parc Kempinski Private Residences, near Montreux, can cost from 3.5 million euros for a unit of 200 m² or more.

Advantages and Disadvantages:

Advantages for Investors: Purchasing apartments in condo-hotels is considered a low-risk investment. Hotel complexes of this type are usually in high demand and provide high quality service.
Additional Income: Owners of units have the opportunity to rent them out, which allows them to earn additional income. The hotel operator takes care of finding tenants and organizing the rent.
Residency Restrictions: Unit owners are often limited in the length of their own residency in apartments, which can be inconvenient for some investors.

So, condo-hotels represent a diverse and promising real estate trend, providing investors with the opportunity to generate income and enjoy a high level of service.