The concept of using a residential building both as a condominium and a hotel is not new, though it’s gaining more popularity than ever before. It’s easy to see why.
Hotel developers are finding it an uphill task to finance their projects and the idea of selling condo units to individuals appeals to them, since it allows them to decrease their loan burden. For the buyer, a condo hotel means a an opportunity to own a private residence in a posh hotel with an option to earn money as rental. Plus, condo hotels are luxury furnished condominium studios and suites, typically in resort areas. Owners have access to all the amenities and services of the resort area suite hotel.
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