March 2017
Condo hotels combine features of hotels and residential condos.
Suites are individually owned. The facility operates legally as a hotel.
Hotel features may include a front desk, fine dining, business centre, spa and housekeeping.
Owners avail themselves of amenities while residing in their suite. For some a condo hotel suite may serve as a vacation home. When the suite is not in use it can be rented to others. Rentals may be handled by the suite owner or added to a rental pool of suites made available through the hotel.
Condo hotels are intended for short-term occupancy.
Revenue from rentals help offset owner expenses. Management handles upkeep and maintenance of common areas and individual suites.
Condo hotels tend to have higher maintenance fees consistent with the level of service and amenities that are provided.
