Tuesday, September 4, 2007

Celebration Florida | Condo Hotels

Rising in popularity is an alternative to timeshares - Condo Hotels. Condo Hotel are rising in popularity, especially in areas like ours! With the draw of such popular vacation destinations with Walt Disney World Resort and Universal Studios / Islands of Adventure in the area.

The US Securities and Exchange Commission (SEC) view is that selling condo hotel units combined with a rental arrangement or similar service constitutes the offering of a security. We know you want to know about these things, but because of that there are some questions the Orlando Avenue Top Team cannot answer for you:

  • Will I break even?
  • Will the condo hotel appreciate?
  • Is this a good Investment?
  • What will my condo hotel be worth in a month/year?
  • What will I receive as income?

The SEC law clearly prohibits these projections or guarantees. You will need to speak with your Financial Advisor to find these answers.

Each Condo hotel unit is sold as a condominium, but they are managed by a hotel. Condo hotels are most times luxury hotels in popular destinations where each room is sold to individual investors who can use them as a vacation home whenever they like. Major hotel chains include the Four Seasons, Starwood, Clarion, Marriott International and Ritz-Carlton are in the condo hotel market.

Financing for a condo hotel unit is possible, but because of lending requirements it is recommended that you work with a trusted Mortgage Professional. Several reasons that Condo Hotels are appealing include:
  • Having the option of taking part in the property's rental program
  • Incredible amenities including spas, fine dining, concierge, housekeeping and fitness enters.
  • Hassle-free vacation home ownership with on-site management

Aspects of a Successful Condo Hotel:

  • Location! Location! Location!
  • Amenities of the facility
  • Strong Managment company
  • A respected developer

Celebration Florida Condo Hotel Projects that you might want to investigate:

Mona Lisa at Celebration
Icon Celebration

If you would like more information on Condo Hotels, please call us today at (407) 288-0017.

This information about Celebration Florida is provided by:

Colleen Kulikowski
Celebration Realtor
Orlando Avenue Top Team
Keller Williams at Celebration
(407) 288-0017

1 comment:

Joe Bartolotta said...

Nice article on Condo Hotels. You are right about the financing, they require a mortgage person who knows the lenders requirements regarding condo-tels.

On a side note -- I am looking forward to the BlogOrlando get together.