The concept is quite simple: An individual becomes the owner of a room or suite sold by a luxury hotel.During certain periods throughout the year, the owner – or investor, have access to his own unit as well as the services of the hotel. The unit is at the disposal of the hotel who gives back to the owner a percentage of the earnings made through leasing that unit.
The idea behind the concept
Basically, a Condo Hotel* is a leisure condominium located define the concept.
Here is three key aspects:
* The investor buying the unit has a full ownership and can lease it via a program from amanagement firm, who then make the arrangements with the renter.
* The hotel manages the renting service and shares the revenues, minus the fees for maintenance and other accruing expenses, with the owner.
* The owner of condo units keeps the right to use his property as he or she wishes, without any intermediary.
Thus, it is not a time sharing program.
* Mr Claude Péloquin, document Les Condotels : nouveau levier financier du tourisme.
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