http://www.articletrader.com/ Articles at ArticleTrader en-us http://www.articletrader.com/finance/real-estate/what-a-condo-hotel-is-and-how-they-work.html http://www.articletrader.com/finance/real-estate/what-a-condo-hotel-is-and-how-they-work.html Tue, 02 Oct 2007 00:00:00 -0500
A condo hotel operates just like any hotel you might be familiar with. The only difference is that each room is individually owned. The paying hotel guest would have no idea that the hotel is a condo hotel. From appearances sake, there is no difference.

As an owner, you take fee simple title. So, you own it outright. Just like you would own the home you currently reside in. The difference is that you would have a highly skilled management team overseeing your property and handling all aspects of the daily operation and rental. Condo hotels are designed for 100% hassle free ownership.

Of course, as an owner of the condo hotel, your visit would likely entitle you to various benefits and first in line privileges not made available to the average guest. You would be entitled to a truly remarkable visit.

Some have suggested that condo hotels are the best area of real estate to get involved with, short of commercial development. To back up this statement, they point to hard evidence that is readily available – historical appreciation comparisons. It’s not uncommon to find branded condo hotels appreciating at a greater rate than the traditional real estate in the same market.

One of the few downsides to owning a condo hotel is that most are not meant for residency. A lot of condo hotels have usage restrictions that limit you to a couple of months of total usage throughout the year. With that said, most people do not buy condo hotels with the idea of residency in mind, so this restriction rarely affects any potential buyer.




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Todd Peterson is the President and founder of the popular real estate site, PremiumCondoHotels.com

Visit his website http://www.premiumcondohotels.com to see the latest condo hotel listings, pricing for suites, and photos of all the condo hotels in the world. You can also sign up for a Free Property Alert and be among the very first to be notified when a new condo hotel is announced.

Source: http://www.articletrader.com ]]> http://www.articletrader.com/finance/real-estate/the-chateau-at-heavenly-village-in-lake-tahoe-california.html http://www.articletrader.com/finance/real-estate/the-chateau-at-heavenly-village-in-lake-tahoe-california.html Thu, 27 Sep 2007 00:00:00 -0500
It was the perfect setting to officially kick off the news about the new hotel and the ownership opportunity. The occasion was marked by great music, lively conversations, and a sense of great anticipation.

The public’s response to the Chateau at Heavenly Village is not what one would have necessarily expected. The various government agencies and planning commissions of Lake Tahoe are notorious for being anti-development. To see them throwing their support behind the Chateau at Heavenly Village speaks volumes about the quality of the future hotel.

There was a time not so long ago when South Lake Tahoe was considered to be secondary to North Lake Tahoe. Much of it was marked by low end hotels and gift shops. This all changed about a decade ago when Vail Resorts, the company that owns Vail and Heavenly ski resorts, decided to give South Lake Tahoe a much needed face lift.

They created Heavenly Village. This large-scale development transformed South Lake Tahoe and Heavenly ski resort into a truly stunning and luxurious vacation destination. They introduced high-end lodging, world class dining, and retail shops and boutiques fitting for such a beautiful oasis. Had Vail Resorts stopped there, it certainly would have been enough. But, they had other plans!

Vail Resorts is now set to take South Lake Tahoe to the next level in sophistication. They are introducing a massive $400 million redevelopment project entailing two luxury condo hotels, a 50,000 square foot convention center, a 16,000 square foot spa, a 1.5 acre park, and a collection of shops and restaurants. Building one is being released this winter.

The Chateau is ideally located in the heart of South Lake Tahoe, directly across from the gondola at Heavenly Village. Guests have immediate access to the ski slopes, beaches, and hiking trails. Guests are also within immediate walking distance to casino nightlife and entertainment.

The Chateau’s first condo hotel will rise 6 stories and have over 200 fully furnished, luxury mountain-style hotel suites. The building will primarily consist of studios and one bedrooms. A few 2 and 3 bedrooms will also be available. Suite sizes will range from 400 square feet to 2000 + square feet.


Owners and visitors to The Chateau at Heavenly Village will experience:

· Walking distance proximity to Skiing, Beaches, and Casinos
· 16,000 sq. ft. spa
· Fitness Center
· Heated pool
· 50,000 sq. ft. convention center
· 21,000 sq. ft. meeting facilities
· Pedestrian overpass to gondola at Heavenly Village
· 1.5 acre park
· World class dining
· Retail shops
· Underground parking
· Private business center


If you’re interested in seeing some renderings and photos of the future hotel, visit http://www.premiumcondohotels.com/pages/chateau-at-heavenly-village.php

The Chateau at Heavenly Village will likely start getting national attention in the coming months as they unleash their marketing blitz and ski season rolls around. In case you were wondering, the place won’t be open until 2009, so you’ve got plenty of time before you need make your reservations. But, if you actually want to own a suite, you’d better act fast. The suites are going to be sold this spring and most likely they’ll all be snapped up the first day that they are made available.




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Todd Peterson is the President and founder of the popular real estate site, PremiumCondoHotels.com

Visit his website http://www.premiumcondohotels.com to see the latest condo hotel listings, pricing for suites, and photos of all the condo hotels in the world. You can also sign up for a Free Property Alert and be among the very first to be notified when a new condo hotel is announced.

Source: http://www.articletrader.com ]]> http://www.articletrader.com/finance/real-estate/hard-rock-hotel-san-diego-now-available-for-resale.html http://www.articletrader.com/finance/real-estate/hard-rock-hotel-san-diego-now-available-for-resale.html Tue, 25 Sep 2007 00:00:00 -0500
This spoke volumes about the strength of the Hard Rock brand and the intelligence behind the condo hotel concept.

Fortunately for many who got shut out last year, this amazing property is again available to the general public. The Hard Rock Hotel San Diego is ready for operation and the resale action is in full swing. A handful of the original purchasers who bought in the preconstruction phase are now making their suites available for purchase.

The Hard Rock Hotel is San Diego’s only 4 star branded condo hotel. You can chill out in a cabana by the rooftop pool. Nosh on Asian fusion at Nobu. Skip the line into the newest of Rande Gerber's ultra lounges and bars. Sample LA's hottest gourmet yogurt at Pinkberry or choose Maryjane's for your favorite comfort foods. It's life behind the velvet ropes and you're invited.

Other amenities include:

· Landscaped rooftop pool deck
· Outdoor music venue that can accommodate up to 2000
· Intimate indoor music venue that can accommodate up to 800
· World-class, full service Rock Spa
· 40,000 sq ft. indoor and outdoor meeting space
· 9000 sq ft main event room that accommodates up to 1000 guests
· Fitness center


Suites range from studios to Rock Star suites. The studios are luxurious and spacious and come with rock and roll artwork and a wet bar filled with the finest liquors. It’s the ultimate place to chill out, share a cocktail, and feel good about life. The rock star suites are on another level entirely. Some come with fireplaces and Jacuzzis. A handful of the Rock Star suites even come with outdoor patios that are larger than your average apartment.

So, if you are interested in getting in on the VIP list and would like to consider purchasing at the hottest spot in town, you can now do so. One site that allows you to view all of the available suites is PremiumCondoHotels.com To take a look at what’s currently available, check out: http://www.premiumcondohotels.com/pages/hard-rock-hotel-san-diego.php

The properties will likely be snapped up quickly, considering that many people were not able to purchase in the preconstruction stage. And now that hundreds of guests will be spending the night and falling in love with the Hard Rock VIP experience, one can only imagine that the demand will grow even more.




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Todd Peterson is the President and founder of the popular real estate site, PremiumCondoHotels.com

Visit http://www.PremiumCondoHotels.com to learn more about the condo hotel industry.

Source: http://www.articletrader.com ]]> http://www.articletrader.com/finance/real-estate/drawbacks-to-owning-a-condo-hotel.html http://www.articletrader.com/finance/real-estate/drawbacks-to-owning-a-condo-hotel.html Mon, 24 Sep 2007 00:00:00 -0500
1) The condo hotel unit may lose value over time. Just like traditional real estate, appreciation is never guaranteed. This very scenario most recently occurred in Las Vegas. Several of the more notable condo hotels have sold for less in the resale market than they did during pre-construction.

2) Local governments typically limit the amount of time owners may use their hotel room. This is done to assure room availability for visitors. In particular, you’ll often find limitations at the condo hotels that are located in cities. The Hard Rock Hotel San Diego, for example, limits owner occupancy to just under a month.

3) Financing is generally costlier than for a primary residence. Your rate may be a full point higher.

4) You will need to give notice that you’ll be staying in the hotel. Condo hotels are located in major travel destinations and are often booked up well in advance.

5) You may not be able to use your room if it has been reserved by another guest. The hotel may not be able to relocate someone from your room to another room – even if another room is available.

6) If you buy preconstruction, you may have to wait a year or two before the condo hotel is completed and ready for operation. This means you won’t be able to stay in it the moment you buy it.

7) You might have to pay extra for daily housekeeping and other services when you’re staying at your place.

8) There will be a monthly homeowner association fee. Although this is hardly uncommon for anyone familiar with condominium real estate, just be aware of all your potential costs. Some condo hotels can have low monthly HOA’s and some can be exceedingly high.

9) Rental income from hotel guests is at the mercy of travel patterns and may decline. Rental income should always be viewed as an added benefit and never something to be counted on.

10) You may have to buy extra insurance to protect against liability claims and some types of damage or loss.

11) Not all condo hotel rooms have storage lockers, so you may not be able to keep any personal possessions in the very room that you own.




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Todd Peterson is the President and founder of the popular real estate site, PremiumCondoHotels.com

Visit http://www.PremiumCondoHotels.com to learn more about the condo hotel industry.

Source: http://www.articletrader.com ]]> http://www.articletrader.com/finance/real-estate/ritz-carlton-kapalua-maui-residences-now-available-for-sale.html http://www.articletrader.com/finance/real-estate/ritz-carlton-kapalua-maui-residences-now-available-for-sale.html Sat, 22 Sep 2007 00:00:00 -0500
Even though the Ritz Carlton Maui has been around for some time, the hotel is undergoing a major renovation and some of the newly designed suites are being sold as private residences.

Just some of the features will be marble foyers, walk-in closets, custom kitchen cabinetry and access to the services of The Ritz-Carlton, including twice daily maid service and valet parking. And lest we not forget, you’ll also be able to enjoy the pleasure of telling your friends that you own at the most luxurious place in town.

Without question, having direct access to D.T. Fleming Beach, rated the #1 beach in the world, is a major selling point for the Ritz Carlton. Of course, having your signature restaurant, The Banyan Tree, receive a AAA Four Diamond rating doesn’t hurt either. Adding to the amenities is an overhaul of the spa, which will now span 14,000 square-feet and have water walls flowing throughout the corridors

The residences will go to sale sometime this winter or spring. The sale date has been pushed back a little, but don’t think that gives you a little more time to make your inquiries. If you are interested, you’ve got to act fast. The list of persons looking to buy grows by the day. And if the last branded hotel available for sale, Trump Towers Waikiki, is any indication, the Residences at the Ritz Carlton Maui will be snapped up the very first day they are made available. This is what happened with Donald Trump’s condo hotel property on the Big Island. Over $700 million dollars of real estate was sold in under 9 hours. Over a thousand would be purchasers were turned away at the door because no more suites were available to buy.

The Residences at the Ritz Carlton Maui is a much smaller offering with only 100 residences available. If you are interested in viewing some photos of the property, visit: http://www.premiumcondohotels.com/pages/ritz-carlton-kapalua-lahaina-maui-hawaii.php You’ll see the most recent photos that have been released.

So far, the Ritz Carlton has been very successful in their offerings of ownership. They’ve offered the chance of ownership at 10 other properties around the world. All sold out in near record time. This amazing opportunity should be no different.




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Todd Peterson is the President and founder of the popular real estate site, PremiumCondoHotels.com

Visit http://www.PremiumCondoHotels.com to learn more about the condo hotel industry.

Source: http://www.articletrader.com ]]> http://www.articletrader.com/finance/real-estate/costs-associated-with-owning-a-condo-hotel.html http://www.articletrader.com/finance/real-estate/costs-associated-with-owning-a-condo-hotel.html Fri, 21 Sep 2007 00:00:00 -0500
Your monthly mortgage for a condo hotel will operate in the same manner as a mortgage you might have for the residence in which you currently reside. You obtain a loan, agree to all conditions and promise to make monthly payments, and then you make your monthly mortgage payments until the loan is resolved. That’s it. Just remember, condo hotel loans are not saleable to Freddie Mac or Fannie Mae and therefore carry slightly higher rates and stricter loan qualification terms.

In almost all circumstance, yearly property taxes will be the exact same for a condo hotel as they will be for traditional real estate in the same area. For example, if property taxes are 1.2% for a single family home, in all likelihood, the property taxes for a condo hotel in that same location will be 1.2%.

Every condo hotel will have HOA dues. In addition, most condo hotels also have master association dues. These expenses will be assessed to all unit owners on a monthly basis. The best part about condo hotel HOA dues is that they cover nearly everything. HOA’s will typically cover all utilities: electricity, air conditioning, water, etc. Most importantly, most HOA’s also cover the room reserves. This means it’s highly unlikely that you’ll ever be faced with an unexpected cost that you’ll have to pay for out of pocket. Other items covered by HOA’s are ground maintenance and common area maintenance.

All in all, condo hotels have all the costs that you would expect to find. The fees of ownership vary only slightly from what you would find with traditional real estate. Of course, owners of traditional real estate rarely have an HOA that covers all utilities and reserves for home repair.




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Todd Peterson is the President and founder of the popular real estate site, PremiumCondoHotels.com

Visit http://www.PremiumCondoHotels.com to learn more about the condo hotel industry.

Source: http://www.articletrader.com ]]> http://www.articletrader.com/finance/real-estate/benefits-of-buying-a-pre-construction-condo-hotel.html http://www.articletrader.com/finance/real-estate/benefits-of-buying-a-pre-construction-condo-hotel.html Tue, 11 Sep 2007 00:00:00 -0500
The most common cliché regarding preconstruction real estate is “You get to secure your purchase of tomorrow’s real estate at today’s prices.” And while that statement may be passed around a little too often, it does capture the very definition of preconstruction. You do get to buy the properties of the future at present day pricing.

Your opportunity to purchase a condo hotel in the preconstruction phase is quite good. Nearly all condo hotels are sold at preconstruction. In fact, the very best condo hotels tend to sell out 100% of their inventory in the preconstruction stage. Savvy real estate investors know that preconstruction pricing can be a bargain and that the property can sell for a great deal more once it is completed and fully operational.

Some developers will space the release of their inventory over the course of two or three phases. Pricing tends to be progressively higher each phase. On some of the higher end condo hotels, you can see a price jump of 10% between phase 1 and phase 2. And, of course, the difference between phase 2 and phase 3 can be equally substantial. This is why you’ll often find the most savvy real estate investors who own several condo hotels making their purchases in the very first phase of the preconstruction development.

However, one should be very careful and incredibly selective when considering the purchase of a condo hotel. In the last few years many pseudo investors have lost money by purchasing condo hotels with the idea of turning a quick buck in mind. Not all condo hotels are the same. If the condo hotel does not have a major brand associated with it, one should be quite weary. The possibility of a Trump or a Ritz Carlton losing value is much less likely than a no name condo hotel. In fact, many real estate investors make it their number one rule of never owning a non-branded condo hotel.

In addition, if the condo hotel is being built in a region that is saturated with condo hotels, be particularly weary. This problem of saturation has afflicted the Las Vegas market in recent years and many condo hotel owners ended up purchasing a property that is worth less now than when they originally bought it. The theory of supply and demand holds true for condo hotels, as well. If there is a glut in the market place of condo hotels, you might want to think twice about purchasing.




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Todd Peterson is the President and founder of the popular real estate site, PremiumCondoHotels.com

Visit http://www.PremiumCondoHotels.com to learn more about the condo hotel industry.

Source: http://www.articletrader.com ]]> http://www.articletrader.com/finance/real-estate/typical-costs-of-purchasing-a-condo-hotel-unit.html http://www.articletrader.com/finance/real-estate/typical-costs-of-purchasing-a-condo-hotel-unit.html Mon, 10 Sep 2007 00:00:00 -0500
Nearly all condo hotels are sold at preconstruction. In fact, the very best condo hotels tend to sell out 100% of their inventory in the preconstruction stage. Savvy real estate investors know that preconstruction pricing can be a bargain and that the property can sell for a great deal more once it is completed and fully operational.

Some developments will sell out their inventory over the course of two or three phases. Pricing tends to be progressively higher each phase. On some of the higher end condo hotels, you can see a price jump of 10% between phase 1 and phase 2. And, of course, the difference between phase 2 and phase 3 can be equally substantial. This is why you’ll often find real estate investors limit their purchases of condo hotels to the very first phase of the development.

If a particular property is having trouble selling its inventory and the developer simply wants to move on to the next project, they might discount the properties in the final phase just to get rid of them. Be wary of this. Generally, it’s the non-branded and non-desirable condo hotels that do this. It’s nearly unheard of for a sought after luxury condo hotel to partake in this practice and you could be setting yourself up for disaster if you buy a discounted property. The main idea when buying a condo hotel is to buy a property with the possibility of appreciation. You don’t want to buy a property that is being discounted and depreciated from the moment it’s sold.

On occasion, some developers will sell their properties at a slight discount if the buyer is going to make a bulk purchase of 10 to 30 units. This practice is desirable for all parties involved. The developer has peace of mind knowing that they can unload a significant amount of property and it helps them get closer to their sales target. The buyer, of course, gets to purchase a premium property at a discount and will realize these gains down the road when they resell them. You’ll often find bulk purchases occurring in highly sought after 4 and 5 star developments. Premium properties tend to attract heavy hitting real estate investors.




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Todd Peterson is the President and founder of the popular real estate site, PremiumCondoHotels.com

Visit http://www.PremiumCondoHotels.com to learn more about the condo hotel industry.

Source: http://www.articletrader.com ]]>