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    Definition: Condo-Hotels Definition: Condo Hotels

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    mundragovind
    A condo-hotel is a centrally managed property with individually owned units that can be used by owners but are also available for single-night rentals through the hotel, providing owners rental income. Condo-hotels range from properties where all rooms are owned units that feed into the hotel's rental program, to properties with one building for hotel guests and another for condo owners who share facilities. Compared to timeshares, condo-hotel owners have more flexible usage rights and the ability to benefit from rental income when not using their unit. Stakeholders like developers, operators, and owners see benefits around financing, branding, and amenities, but also face risks such as sales performance, management issues, and changes in the

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    Definition: Condo-Hotels Definition: Condo Hotels

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    mundragovind
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    A condo-hotel is a centrally managed property with individually owned units that can be used by owners but are also available for single-night rentals through the hotel, providing owners rental income. Condo-hotels range from properties where all rooms are owned units that feed into the hotel's rental program, to properties with one building for hotel guests and another for condo owners who share facilities. Compared to timeshares, condo-hotel owners have more flexible usage rights and the ability to benefit from rental income when not using their unit. Stakeholders like developers, operators, and owners see benefits around financing, branding, and amenities, but also face risks such as sales performance, management issues, and changes in the

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    Presentation Condo Hotels

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    A condo-hotel is a centrally managed property with individually owned units that can be used by owners but are also available for single-night rentals through the hotel, providing owners rental income. Condo-hotels range from properties where all rooms are owned units that feed into the hotel's rental program, to properties with one building for hotel guests and another for condo owners who share facilities. Compared to timeshares, condo-hotel owners have more flexible usage rights and the ability to benefit from rental income when not using their unit. Stakeholders like developers, operators, and owners see benefits around financing, branding, and amenities, but also face risks such as sales performance, management issues, and changes in the

    Copyright:

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    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    254 views6 pages

    Definition: Condo-Hotels Definition: Condo Hotels

    Uploaded by

    mundragovind
    A condo-hotel is a centrally managed property with individually owned units that can be used by owners but are also available for single-night rentals through the hotel, providing owners rental income. Condo-hotels range from properties where all rooms are owned units that feed into the hotel's rental program, to properties with one building for hotel guests and another for condo owners who share facilities. Compared to timeshares, condo-hotel owners have more flexible usage rights and the ability to benefit from rental income when not using their unit. Stakeholders like developers, operators, and owners see benefits around financing, branding, and amenities, but also face risks such as sales performance, management issues, and changes in the

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    Definition : Condo-Hotels Condo Hotels

    A condo-hotel is a property with different units that are centrally managed by an operator (a single brand). In contrast with a hotel, these units are individually owned. In condo-hotels the rooms are sold to investors who can use their units but who are also allowed to rent those units whenever they are not using them in exchange for rental income. The rental program allows for single night rental periods, as opposed to weekly or monthly minimum periods (as in other alternative hotel investment vehicles like time share / vacation ownership) The condo-hotel term is used to reference a variety of hotel products At one end there is a property that functions as a hotel, but where all rooms are condominiumised and owned by individual owners who may put their units in a rental program and then be used as hotel inventory. At the other end there is a hotel or resort property that has one building for hotel guest and another building for condos (where owners may share facilities with hotel guests) guests). And then there are variation that fall within these two products. The difference between Branded Residences & Condo hotels is that in the first type the units are Condo-hotels used as prime residence by the owners and are not available to the hotel for renting out. But the term is loosely used and is also called Private Residences or The Residences by XXXX Hotels.

    Condo Hotels Condo-Hotels Vs Fractional Units/Timeshare

    Condo Hotels Condo-Hotels : Stakeholders Benefits & Risk


    Benefits Improved feasibility & financing Improved credibility & premium pricing Improved hotel financial performance Risk Potential for weak sales Change in hotel brand perception Improper legal / physical structuring

    Developer

    Operator
    Benefits Grow hotel brand portfolio Revenue from mgmt. & license fee Enhance brand equity with guests/owners Risk Complex Management Lawsuit, liability and litigation Damage to brand reputation Benefits

    Owner
    Risk Change in hotel brand Insolvency of homeowner association Lack of privacy because of hotel guest

    Superior Service & Amenities Promise of strong resale value Superlative cachet & trophy status

    Condo Hotels Condo-Hotels : Major Operators 24 Private Residences in Operation/Pipeline 1 Planned in Chennai with Nitesh Estate 21 Private Residences in Operation/Pipeline 1 Planned in Bangalore with Westcourt

    12 Private Residences in Operation/Pipeline None in India

    10 Pri ate Residences in Operation/Pipeline Private In talks with Oberoi Realty for Mumbai

    Condo Hotels Condo-Hotels : Major Operators 11 Private Residences in Operation/Pipeline None i I di N in India

    6Pi Private R id Residences i O in Operation/Pipeline i /Pi li None in India 4 Private Residences in Operation/Pipeline None in India 3 Private Residences in Operation/Pipeline 1 Planned in Mumbai with Rohan Lifescape 2 Private Residences in Operation/Pipeline None in India

    Condo Hotels Condo-Hotels : Other Operators


    Key Observation: Almost all Condo-Hotel / Branded Residences Brands are in Luxury Segment, probably because of High service standards Brand visibility Global presence Premium attached to brand Some Upscale H t l b d h S U l Hotel brand have entered th C d t d the Condo Hotels / Branded Residences segment but lacks experience & premiumness compared to luxury brands

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