Hotel developers are finding it difficult to get finance for the hotel projects and development projects are increasing. In this scenario, it makes perfect sense for hotel developers to sell condo units of their hotels to individuals rather then fund the whole hotel with their own money or loans. For Condo unit owners, it gives them a chance to own a private residence in a five star hotel with an option to earn money as rental. Condo Hotels in Mexico are an excellent risk free investment opportunity in today's low interest rate and volatile stock market scene. Condo Hotels generally feature star class amenities and are located near a popular vacation destination. Every big player in the hotel industry is now entering in this highly popular and lucrative business. A condo unit’s owner can stay there whenever he likes and for the rest of the period, he can place unit under Condo Hotel Management's rental program. Condo hotels management markets individual investor's condo unit as a hotel, handles reservation, takes care of the front desk and maintenance. In exchange, the hotel management gets a part of the revenue from the rental. Many developers offer an array of hotel services available to condo hotel unit owners like valet, concierge, maid and spa services, restaurants etc. Playa Del Carmen is a vibrant beach-side city located on the coast of the Caribbean Sea. It's a base from which Mayan Riviera can be explored. It has unspoiled white sandy beaches and clear Caribbean Sea. It's very popular with American and European tourists. Many of whom also buy second homes here in Playa del Carmen. Condo Hotels in Playa del Carmen are really good options. Real Estate in Playa del Carmen is booming every year. And therefore properties appreciate every year. There are lots of options when it comes to buying Condo Hotel in Playa del Carmen. The Fives By Charisma, Aldea Thai, Pueblito Escondido, Viceroy Mayakoba are few of the condo hotels that provide world class amenities along with great location and services.
Lifestyle buyers tend to purchase condo hotels at their favorite resort destination. They love the idea of owning a fabulous property at their favorite destination, but they don't want the burden of a second home sitting empty and draining them financially. They also are attracted to the idea of their vacation home being fully managed by someone else and being cleaned and completely in order upon their arrival. Additionally, because condo hotel ownership generally comes with major amenities and service benefits, the purchase makes even more sense. These types of buyers are called ?resort enthusiasts? and tend to visit their property 5-6 times a year.
Investors, on the other hand, will buy regardless of whether the purchase fits their lifestyle. If the property makes financial sense, that is all they need to justify the purchase. For the pure investor, appreciation and cash flow are of paramount importance, with appreciation being the greater determining factor. In addition, the opportunity to own a hassle free investment that is fully looked after by a professional management company is another highly valued attribute.
Many savvy real estate investors have achieved fantastic appreciation gains over the years from condo hotels and continue to buy whenever a premium property comes to market. Some repeat buyers own upwards of 10 ? 20 condo hotel units and look to add more every year. They love the concept of purchasing at a lower price point during preconstruction and then selling at a higher price point once the property has been in operation for a few years. In particular, most investors are drawn towards the name brand condo hotels, such as Trump, W, Hard Rock, Ritz Carlton, Westin, and the Four Seasons.
Incidentally, even among the buyers who would consider themselves investors, most stay at their property several times a year and enjoy taking advantage of the many benefits that come with being an owner. However, it must be noted that this lifestyle component is secondary in their purchasing decision. Ultimately, the decision to purchase is based off of the condo hotel's ability to appreciate and cash flow.
Demographically, the age of the typical condo hotel buyer is what you would probably expect. The average buyer is between the ages of 45 ? 55, is married, has children still at home or in college, and has owned vacation property previously. The typical buyer trends to be more affluent and views the purchase of real estate as an intelligent way to increase wealth.
With that said, different condo hotel projects do cater to different sectors of that demographic and this will cause slight fluctuations in those statistics. Ritz Carlton's, as you can imagine, have great appeal to older members of that age group and beyond. W Hotels and Hard Rocks, along with their hip atmosphere, appeal to the younger members of that demographic, as well as to persons who have attained wealth at an earlier stage in life.
Condo hotels also appeal to buyers from around the globe. Europeans, South Americans, and Asians are all buying condo hotels in North America. They are competing with Americans for the best properties in the U.S., Canada, and Mexico. In fact, Europeans and Asians have quickly emerged as one of the fastest growing segments of condo hotel owners in North America. Aiding this trend is the weakened dollar. The citizens of these regions have flexed their economic might in recent years and have shown exceptional interest in the condo hotel model. In fact, half the units of Trump Waikiki, the most successful real estate project in the world, were sold exclusively to Asian buyers.
Both Innomax Solutions & Todd Peterson, President Of Premiumcondohotels.com are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
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