Top Ten List for Consumers Considering a Condo Hotel Purchase
The National Association of Condo Hotel Owners (NACHO) is taking another step in its efforts to provide consumers the tools and information needed to better understand and enjoy their condo-hotel purchase.
Scottsdale, AZ (PRWEB) September 14, 2006 -- The National Association of Condo Hotel Owners (NACHO) is taking another step in its efforts to provide consumers the tools and information needed to better understand and enjoy their condo-hotel purchase. The Association’s latest release, “Top Ten Things to Consider When Buying a Condo Hotel,” outlines the basic -- but most critical -- aspects.
Condo hotels, or condotels , by definition are hotels in which some or all of the hotel’s rooms are sold to individuals as condominium units with an optional rental program. These programs allow the consumer to place their unit into the hotel inventory for rental purposes for a share of the rental income generated.
Dante Alexander, the Association’s president and CEO, notes that while the condo-hotel concept isn’t new, “it is dominating the industry today because of the tangible advantages for both the consumer and the real estate developer.”
Individuals considering the purchase of a condo-hotel unit are encouraged to review Guide to Condo Hotel Vacation Ownership and the detailed version of the top-ten list online. www.nacho.us provides its members with an ROI calculator to work through all of these variables to help understand net annual expenses or benefit of ownership.
The National Association of Condo Hotel Owners (NACHO) is a non-profit organization established to support the entire lifecycle of the condotel segment. It provides developers, planners and consumers with industry-related news, research, tools and other resources to ensure the overall success of the condo-hotel industry, as well as customer satisfaction.
Top Ten Things to Consider When Buying a Condo Hotel
1. Desirable Location
2. Price Comparison of Standard Condominium to Condo-Hotel Unit
3. Property Management
4. Annual Ownership Costs
5. Competitive Condition Sustainability
***If participating in a property rental program, the following should also be considered:***
6. Commercially Competitive Location
7. Historical Rates and Occupancy of Competitive Hotel within the Market Area
8. Specific Commission Structure, Deductions and Costs
9. Ease of New Competition to Enter the Market
10. Asset Management Utilization
Press Contact:
Christine Webber
The National Association of Condo Hotel Owners
(480) 905-2374
www.nacho.us
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