Many people dream of owning a holiday home. But concerns about keeping it, leasing it out or justifying the expense when it’s just to be used for a few weeks of this year keep them . Now condo resorts, an innovative kind of holiday home ownership, offer a welcome solution to each of these problems.
Also known as condotels or aparthotels, condominium hotels have been growing in popularity as a way of owning a luxurious home.
Condo hotel buyers purchase an actual condominium unit at hotel or an upscale hotel. The property functions as a hotel, and owners have access to all amenities, facilities and services like hotel guests.
They get a deed and can use their vacation home when they need. When not they can place their unit to the hotel’s rental program and share in the revenue that it generates. The proprietor can also sell his condo hotel unit and might make a profit on its value.
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