condotel

condotel

A relatively recent concept involving a melding of a resort hotel with condominium ownership. Initially became popular after September 11, 2001, when it became difficult to obtain financing of more than 50 percent of the cost of acquisition or development of a hotel property.To raise the additional necessary capital, developers sold individual units to investors and users, with the promise to rent the units to hotel guests and pay over profits to the individual owners.In recent years the practice has become less common with regular hotels, but remains strong with resort developments. The Securities and Exchange Commission, and several plaintiffs' law firms, have recently taken the position that such relationships involve the sale of securities, thereby requiring registration,disclosure,adherence to strict accounting standards,and many other requirements.
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Launched in December 2012, Shiki Niseko is a luxurious maiden landmark condotel in the village of Hirafu.
Serviced condo or condotel units are now turning out to be good buy-to-rent property investments.
PT Gapuraprima Tbk (Gapuraprima) will operate in 2014 Hotel Best Western Premier Bellevue in Radio Dalam area of South, Jakarta, Gapura Prima Hotel at Jalan Gatot Subroto in Jakarta, Bellevue Place MT Haryono Condotel at Jalan MT Haryono in Jakarta, Bellevue Nusa Dua Bali Condotel in Bali, Belmont Kebon Jeruk Condotel in Jakarta.
SINGAPORE, April 3, 2013 /PRNewswire/ -- Asian hospitality chain Meritus Hotels & Resorts (MHR) has signed a Memorandum of Agreement with Funtasy Island Development (FID) Pte Ltd for the management of a deluxe resort development comprising a 200-room condotel, a 230-suite hotel, and an aggregate of 413-unit villas on Funtasy Island - envisioned to be the largest eco theme park and the first gated island community in the world.
But tourism's economic pain is also being directly felt by people who dabbled in a unique type of real estate that was hot several years ago N the condotel.
That's the idea behind the new Sea Spray condotel, currently being marketed through Prudential Palms Realty.
William McLennan, 40, was discovered on Saturday by staff at the Chiang Rai Condotel in the country's northern province of Chiang Rai.
In 2012, apartment and condotel buildings grew rapidly in number in certain areas in the Greater Jakarta area.
It involves the selling of hotel rooms and suites to individual purchasers, who wish to have ownership as a Condotel with the option to occupy the Condotel as well as to generate income from the unit which is an alternative method that is outperforming the time-share condominiums in the United States.
Development of Dufan Sea will include thematic apartment complex, condotel and hotel complex complete with life style mall center, island theme park, water ride attractions, water front convention hall, and Dufan Sea Theme Park.
It enjoys views of the golf course and is part of the gated Hampton Club community; and a very nice condotel unit with 24-hour concierge service located adjacent to the St.
Among the hotel projects are Chocolate Hotel (Surabaya), Pakuwon Jati (Tunjungan Plaza 5), Condotel, Prime Royal, Santika, Sahid, Discovery, Aston Madiun Hotel and Conference (Madiun).