There are a limited amount of location, location, location areas that can be built, and in time those locations will be harder to get a room in during the peak season.
Denver, CO (PRWEB) July 7, 2006 –
Condo Hotel projects are popping up everywhere. Steve Roszell of CondoHotels.com (http://www.condohotels.com) offers investors some sound advice on how to sort out all the different options.
“A big name or personality on a project does not guarantee success,” says Steven Roszell, owner and broker of CondoHotels.com and HotelsForSale.com. “Ivana Trump, George Clooney, Michael Jordan, and even the Hard Rock Las Vegas project are some of the most recent examples of scrapped projects. And just recently announced, Nicky Hilton is also getting into the game.”
“Big brands, seasoned developers and management companies are a better indication on a project's success. Four Seasons, Ritz Carlton, Marriott, Hilton, Westin, St. Regis, W, Sheraton, Donald Trump, Falor’s, Turnberry, Millennium Partners. We tell investors, a Condo Hotel purchase is a lifestyle investment. Buy in locations where you want to vacation for the next 5 to 25 years,” says Roszell. “There are a limited amount of location, location, location areas that can be built, and in time those locations will be harder to get a room in during the peak season.”
“When I sell a hotel or resort, the buyer is looking at several factors” Roszell added “Location, growth and future income. The same should hold true when investors are purchasing individual units in a hotel.”
Condo hotels or Condotels convert a portion of rooms into condominiums and make them available for purchase. Once a property is bought, owners can enjoy their new luxury condo and/or choose to rent it. Owners receive a percentage of any rental proceeds and hotel management takes care of maintenance and cleaning.
About CondoHotels.com (http://www.condohotels.com)
CondoHotels.com has a team of local, licensed realtors in Florida, New York, Colorado, Las Vegas and soon in Mexico, California and Hawaii and everywhere Condo Hotels are opening.
Licensed Real Estate Broker CO and FL
Condo Hotel Connection
Condo Hotel Collection
steve @ condohotels.com