Jeff Mills Coastal Vacations Club Blog

Condo hotels, also recognized as condotels, are a comparatively new concept in vacation home ownership. They allow individuals to own condos in luxury hotels and have access to all the amenities of that hotel. When not using their condo unit themselves, owners have the option of placing it in the hotel’s rental program and receiving a percentage of the revenue it generates. For the reason that the condo hotel concept is so new, it’s often confused with timeshares, a popular vacation home option that has been around since the 1970s. In reality, condo hotels have many qualities that set them apart from timeshares and make them appealing to a unique segment of the second home market. Here’s a contrast between these two types of real estate investment. FLEXIBILITY IN USE Timeshares – When you buy a timeshare, you select not only a set location but also a specific week or two that you will use your vacation home every year. Condo Hotels – With a condo hotel, you have suppleness to use your unit whenever you want. Keep in mind, however, that some condo hotels do have living restrictions that prevent you from making your condo a permanent residence. AMENITIES Timeshares – The average timeshare has a community pool and some common areas. Condo Hotels – Condo hotels have numerous the facilities you would find at luxury hotels. In addition to a pool (or pools), there is almost certainly an on-site restaurant (possibly several), a lounge, a full-service spa, a state-of-the-art exercise facility, a poolside bar, etc. FURNISHINGS Timeshares – Timeshares are sold completely furnished. The quality of furnishings depends on the individual development. The cost for the furnishings is built into the price. Condo Hotels – Condo hotel units are sold completely furnished typically with high-end furniture, appliances and fixtures selected by a professional interior designer. The cost for furnishings is incorporated in the price of the condo hotel unit. SERVICES Timeshares – In a timeshare, you are accountable for your own housekeeping and unit upkeep during your stay. Condo Hotels – You get every day housekeeping as you would in a luxury hotel. You have access to room service, concierge services, preservation services and check-in services. The vast majority of condo hotels are operated by big-name hoteliers like Ritz Carlton and Hilton, the consummate professionals when it comes to customer service. Most of the same services obtainable at their high-end hotels are offered at their condo hotels. If you are looking for Hotels in Downtown Chicago or cheap Hotels in Downtown Chicago or even luxurious Hotels in Downtown Chicago then you have come to the right place.

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