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Tips on buying a condo hotel - Part 2

We have talked about tips on buying condo hotels before wherein we said that before buying your own hotel room, you should research the location and the perfect time before you purchase. Now it’s time for you to know the other factors in buying the condo hotel that best fits you.

Your Lifestyle: According to condohotels.com, Our prospective buyers aren’t necessarily dependent in the sale of their primary home in order to purchase a condo hotel. Most of our clients are investors or jet setters looking for a ‘crash pad.’ I believe that’s helping to keep the condo hotel market buoyant during this rough patch in the real estate market. Considering this, one would deduce that condo hotel buyers would be able to make use of their property in the times when they are within the area.; Also, condo hotels are fabulously-furnished condominium suites in some of the most famous hotels and resorts around the country. The properties are usually large, high-rise, luxury hotels and come with premium amenities like valet, concierge and maid service. Prices can range from $250,000 to over $1 million for prime properties.
Hospitality Company that Manages the Condo Hotel: In real estate, name and reputation matters, and that is no different in condo hotels. In purchasing your condo hotel, whether it is your first or to be a part of your portfolio, you should consider the company that manages the hotel. Naturally, having a well-known hospitality company managing your property means that people, visitors and guests would likely to check in there having established their names in the market.
Condo Hotel’s Unique Selling Point: Does the hotel have one of the best amenities like gyms, spas and the likes that would make the guests come back time and time again? You’ll want to choose a condo hotel that has amenities you’ll enjoy using and that will also be used to attract hotel guests. In doing so that will mean revenue for the hotel as well as for you.

A realtor who specializes in condo hotels and is familiar with the area in which you’re looking can often help you determine if the condo hotel you’re considering has good appreciation potential.