“Condotels,” also known as “condo hotels,” are typically condominiums in resort or famous tourist destinations. A condotel looks and feels to visitors like a hotel or resort, but in these resorts, individuals have the opportunity to purchase individual units. Unlike a timeshare, where buyers pay for limited use of a resort, buyers of a condotel own their residence outright and can stay in it, rent it out, or sell it according to their own wishes. In these communities, in-house management companies rent out the units on behalf of their owners in exchange for a percentage of the rental income. Condotel owners and their renters often have use of the resort’s amenities, such as concierge, fitness and spa services. Whether an owner can use the amenities while a renting guest is staying in the unit depends on the rules of the particular condotel development.Owning a condotel differs from buying and managing a condo in several respects, says the Vice President of Fuente Triangle Realty Development Corp.
Unlike typical condos built by multifamily housing developers, condotels are often developed by hotel and resort companies — such as Crown Regency Hotel Chain nationwide. The price you pay for a unit may be substantially higher than that for a “regular” condo.
For the extra cost, you have access to the services of an in-house management company, which will market and rent your unit out for long or short periods of time (even nightly). The management company’s rental program will charge you a portion of your rental income (typically 50%), and will handle the maintenance of your unit, groundskeeping and the clean-up after your renters leave. It will also oversee guest amenities such as swimming pools, convention center, sports center and fine dining restaurants. If you bought a “regular” condo and hired an outside management firm to market and lease your unit to renters, there may be less flexibility when it comes to placing your unit in and out of the rental program, and the firm may not market your unit nationally in the way that a large hotel company might.
When looking to invest in a condotel, research the local real-estate market (e.g., are prices on the rise, or has the real-estate market peaked?). Study regional tourist activity and hotel occupancy, since a condotel unit, especially if it is run by a hotel operator, may be marketed like a hotel room. The location of your unit has the potential of figuring prominently into how profitable an investment it is.
Ask yourself whether Boracay Island can attract tourists. Boracay is a tropical island conveniently located at the northwestern tip of the Province of Aklan.
Boracay is a coral island with a total land area of 1,083 hectares. This incredible island is 7 kilometers long, 0.5 kilometers at its narrowest and 2 kilometers at its widest, laced with a beautiful stretch of beach 4 kilometers long that is known for its powdery white sand unequaled not only in the Philippines, but anywhere else in the world.
Boracay is composed of 3 barangays in the Municipality of Malay which has a local population of about 13,000 whose main source of livelihood is tourism. The island was declared a tourist zone in 1978 and tourism development has expanded rapidly since that time.
Boracay is the Philippines number one tourist destination. The average yearly increase in tourist arrivals from 1998 to 2007 has been about 20%.
If you buy before a condotel project is fully built, you may be able to purchase your unit at a lower cost, as Fuente Triangle Realty Development Corp. tend to offer the lowest prices pre-construction. You may have to wait until the project is completed, though, before you can rent out your unit. Estimate how much you can fetch per night and how often you need to rent the unit out to bring in enough to cover your mortgage and other expenses. It’s all about the numbers. You’d have to look at the rules and make sure the property would be suitable for an investor.
Why invest Boracay Crown Regency Condotel?
Watch Worldwide Investors’ Endorsements: www.cebucondoreview.co.cc
Pride of ownership of a Condotel unit in a world class tourist destination known worldwide for its powdery white sand.
- Own an income generating investment from hotel operations.
- Bundled with a prestigious membership at Club Ultima, a lifetime private membership club in Cebu City that offers the finest facilities available for business, travel, health and family leisure needs of its members.
- Investors FREE night stays in Boracay can be exchanged for FREE night stays in all Crown Regency Hotels and at more than 2,900 Interval International affiliated hotels & resorts worldwide.
- Condotel Unit Ownership is covered by an asset backed preferred stock share.
- The unit comes fully furnished and will be managed by the established Crown Regency Hotel Group.
- This Condotel opportunity is definitely not a timeshare.
- No ongoing overhead or maintenance costs
- No homeowner or association dues
- Appreciation of property values over time
- The expected return of investment is 5 to 7 years when unit is fully paid for and all units are operational.
- Increase your returns by selling your unused FREE night stays either by yourself, through a travel agency or back to the Crown Regency Hotel Group.
- Absolute global marketability
- Affordable payment plans offered
- Enjoy quality time with family & loved ones
Own a Crown Regency Hotel Room in Boracay…
Enjoy 52-day FREE night stays in major Philippine tourist destinations and around the world!
Earn a Million…
For FREE investment proposal and reservations, please contact:
Daisy Guo
Fuente Triangle Realty Development Corp.
International Marketing Assistant
E-mail: ftrdcmarketing@gmail.com or info@cebucondoreview.co.cc
Cell: (+63917) 462-1174
Skype & Yahoo! Messenger: daisy_guo_onlinemarketing
My website: Daisy Guo Blog
